International Business Machines (NYSE:IBM) Price Target Lowered to $280.00 at Argus

International Business Machines (NYSE:IBM) had its target price cut by Argus from $360.00 to $280.00 in a research report released on Thursday morning, MarketBeat.com reports. They currently have a buy rating on the technology company’s stock.

Several other research analysts also recently commented on the company. Citigroup raised their price objective on International Business Machines from $285.00 to $375.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. JPMorgan Chase & Co. upgraded International Business Machines from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $270.00 to $291.00 in a research note on Tuesday, June 23rd. Sanford C. Bernstein restated a “market perform” rating on shares of International Business Machines in a research note on Thursday. DZ Bank upgraded shares of International Business Machines from a “hold” rating to a “buy” rating and set a $295.00 target price on the stock in a research note on Friday, April 24th. Finally, Wolfe Research downgraded shares of International Business Machines to a “peer perform” rating in a report on Tuesday, June 23rd. Fifteen investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $301.83.

International Business Machines Trading Up 3.9%

NYSE:IBM opened at $219.39 on Thursday. International Business Machines has a one year low of $204.44 and a one year high of $332.46. The business has a fifty day moving average price of $264.17 and a 200-day moving average price of $263.94. The firm has a market capitalization of $206.21 billion, a price-to-earnings ratio of 19.40, a price-to-earnings-growth ratio of 2.06 and a beta of 0.68. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.80 and a quick ratio of 0.76.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.10. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The company had revenue of $15.92 billion for the quarter, compared to the consensus estimate of $15.60 billion. During the same period in the previous year, the business earned $1.60 earnings per share. International Business Machines’s quarterly revenue was up 9.5% compared to the same quarter last year. Sell-side analysts forecast that International Business Machines will post 12.33 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were given a $1.69 dividend. The ex-dividend date was Friday, May 8th. This is a positive change from International Business Machines’s previous quarterly dividend of $1.68. This represents a $6.76 annualized dividend and a dividend yield of 3.1%. International Business Machines’s dividend payout ratio (DPR) is presently 59.77%.

Institutional Trading of International Business Machines

Several institutional investors have recently made changes to their positions in the business. Norges Bank purchased a new stake in International Business Machines during the 4th quarter valued at approximately $2,446,429,000. Capital World Investors lifted its holdings in shares of International Business Machines by 29.2% in the fourth quarter. Capital World Investors now owns 22,021,912 shares of the technology company’s stock worth $6,523,720,000 after buying an additional 4,976,756 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of International Business Machines by 83.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,617,117 shares of the technology company’s stock worth $1,663,847,000 after buying an additional 2,553,552 shares in the last quarter. Corient Private Wealth LLC boosted its position in shares of International Business Machines by 359.6% during the fourth quarter. Corient Private Wealth LLC now owns 1,896,675 shares of the technology company’s stock worth $561,814,000 after acquiring an additional 1,484,026 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in International Business Machines by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 97,216,131 shares of the technology company’s stock valued at $28,796,390,000 after acquiring an additional 1,439,824 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Key Headlines 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

About International Business Machines

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.