International Business Machines (NYSE:IBM) Price Target Cut to $185.00

International Business Machines (NYSE:IBM) had its price target lowered by JPMorgan Chase & Co. from $190.00 to $185.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 10.65% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Stifel Nicolaus reiterated a “buy” rating and set a $190.00 price target on shares of International Business Machines in a research report on Wednesday, April 17th. BMO Capital Markets lowered their price target on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a research report on Thursday. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Tuesday. Evercore upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $165.00 to $200.00 in a research report on Friday, January 19th. Finally, Wedbush boosted their price objective on shares of International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $184.08.

International Business Machines Trading Down 1.0 %

IBM opened at $167.20 on Thursday. The company has a current ratio of 1.13, a quick ratio of 0.93 and a debt-to-equity ratio of 2.32. The stock has a market capitalization of $153.28 billion, a PE ratio of 18.94, a PEG ratio of 3.33 and a beta of 0.70. International Business Machines has a 1-year low of $120.55 and a 1-year high of $199.18. The firm has a 50-day moving average price of $187.60 and a two-hundred day moving average price of $170.15.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. During the same quarter in the previous year, the company earned $1.36 EPS. International Business Machines’s revenue was up 1.5% on a year-over-year basis. As a group, equities analysts anticipate that International Business Machines will post 9.99 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of IBM. Advisory Alpha LLC lifted its stake in International Business Machines by 84.1% in the third quarter. Advisory Alpha LLC now owns 7,356 shares of the technology company’s stock valued at $1,032,000 after buying an additional 3,361 shares in the last quarter. Secure Asset Management LLC bought a new stake in shares of International Business Machines in the third quarter worth $214,000. Asset Management One Co. Ltd. lifted its position in shares of International Business Machines by 2.1% in the third quarter. Asset Management One Co. Ltd. now owns 529,406 shares of the technology company’s stock worth $74,276,000 after purchasing an additional 11,016 shares in the last quarter. Benin Management CORP lifted its position in shares of International Business Machines by 1.8% in the third quarter. Benin Management CORP now owns 5,593 shares of the technology company’s stock worth $785,000 after purchasing an additional 100 shares in the last quarter. Finally, Aaron Wealth Advisors LLC lifted its position in shares of International Business Machines by 86.6% in the third quarter. Aaron Wealth Advisors LLC now owns 307,827 shares of the technology company’s stock worth $43,188,000 after purchasing an additional 142,886 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

About International Business Machines

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.