International Business Machines’ (IBM) “Outperform” Rating Reiterated at Oppenheimer

Oppenheimer reissued their outperform rating on shares of International Business Machines (NYSE:IBM) in a research report report published on Tuesday morning, Marketbeat.com reports. The firm currently has a $350.00 price objective on the technology company’s stock, up from their prior price objective of $320.00.

Several other research firms have also recently commented on IBM. Wolfe Research cut International Business Machines to a “peer perform” rating in a report on Tuesday, June 23rd. Roth Capital reissued a “buy” rating on shares of International Business Machines in a research note on Wednesday, June 3rd. Piper Sandler upgraded International Business Machines to an “overweight” rating in a report on Tuesday, June 23rd. Barclays assumed coverage on International Business Machines in a research note on Monday, June 1st. They issued an “overweight” rating and a $350.00 target price for the company. Finally, Jefferies Financial Group assumed coverage on International Business Machines in a report on Tuesday, June 23rd. They set a “buy” rating on the stock. Fifteen investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, International Business Machines presently has a consensus rating of “Moderate Buy” and a consensus price target of $301.83.

International Business Machines Stock Performance

IBM opened at $219.39 on Tuesday. International Business Machines has a twelve month low of $204.44 and a twelve month high of $332.46. The firm has a market capitalization of $206.21 billion, a PE ratio of 19.40, a PEG ratio of 2.06 and a beta of 0.68. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75. The firm’s 50-day moving average price is $264.17 and its 200 day moving average price is $263.94.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, April 22nd. The technology company reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.10. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The company had revenue of $15.92 billion during the quarter, compared to the consensus estimate of $15.60 billion. During the same quarter in the prior year, the firm earned $1.60 EPS. International Business Machines’s quarterly revenue was up 9.5% on a year-over-year basis. As a group, sell-side analysts expect that International Business Machines will post 12.33 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were given a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Friday, May 8th. This is a boost from International Business Machines’s previous quarterly dividend of $1.68. International Business Machines’s dividend payout ratio is presently 59.77%.

Institutional Investors Weigh In On International Business Machines

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brown Miller Wealth Management LLC raised its holdings in International Business Machines by 4.3% in the 2nd quarter. Brown Miller Wealth Management LLC now owns 13,126 shares of the technology company’s stock valued at $3,691,000 after buying an additional 541 shares during the period. Simplify Asset Management Inc. raised its stake in shares of International Business Machines by 4.7% in the 2nd quarter. Simplify Asset Management Inc. now owns 5,014 shares of the technology company’s stock valued at $1,410,000 after acquiring an additional 224 shares during the period. Northeast Investment Management lifted its holdings in shares of International Business Machines by 4.4% in the 2nd quarter. Northeast Investment Management now owns 7,268 shares of the technology company’s stock worth $2,044,000 after acquiring an additional 309 shares during the last quarter. Richards Merrill & Peterson Inc. lifted its holdings in shares of International Business Machines by 5.9% in the 2nd quarter. Richards Merrill & Peterson Inc. now owns 8,461 shares of the technology company’s stock worth $2,379,000 after acquiring an additional 471 shares during the last quarter. Finally, Truefg LLC purchased a new position in shares of International Business Machines during the 2nd quarter worth approximately $210,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Key Stories Impacting International Business Machines

Here are the key news stories impacting International Business Machines this week:

• Negative Sentiment: IBM’s preliminary Q2 results came in below expectations, with softer revenue and adjusted EPS fueling the sharp selloff and a major reset in investor confidence. Article Title
• Negative Sentiment: Management said some large deals were delayed as customers reassessed spending, reinforcing concerns that IBM is being hurt by changing enterprise tech budgets and slower software demand. Article Title
• Negative Sentiment: Several reports highlighted the stock’s historic one-day drop, securities-fraud investigations, and analyst downgrades/target cuts, all of which can keep sentiment and trading pressure negative. Article Title

International Business Machines Company Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.