International Business Machines (NYSE:IBM) Price Target Cut to $179.00

International Business Machines (NYSE:IBM) had its price target reduced by Morgan Stanley from $186.00 to $179.00 in a report published on Friday, Benzinga reports. They currently have an equal weight rating on the technology company’s stock.

IBM has been the subject of a number of other research reports. Societe Generale reaffirmed a sell rating and set a $143.00 price objective on shares of International Business Machines in a research report on Friday, January 5th. BMO Capital Markets dropped their price target on shares of International Business Machines from $210.00 to $190.00 and set a market perform rating on the stock in a research note on Thursday, April 25th. Evercore upgraded shares of International Business Machines from an in-line rating to an outperform rating and raised their price objective for the company from $165.00 to $200.00 in a research note on Friday, January 19th. Stifel Nicolaus reiterated a buy rating and issued a $190.00 target price on shares of International Business Machines in a research note on Wednesday, April 17th. Finally, Wedbush raised their price target on shares of International Business Machines from $140.00 to $160.00 and gave the company a neutral rating in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus price target of $184.08.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $167.51 on Friday. The business has a fifty day simple moving average of $187.19 and a two-hundred day simple moving average of $170.72. The firm has a market capitalization of $153.56 billion, a P/E ratio of 18.97, a P/E/G ratio of 4.08 and a beta of 0.70. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32. International Business Machines has a 12 month low of $120.55 and a 12 month high of $199.18.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period last year, the company posted $1.36 EPS. International Business Machines’s revenue was up 1.5% on a year-over-year basis. On average, equities analysts forecast that International Business Machines will post 9.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On International Business Machines

A number of hedge funds have recently added to or reduced their stakes in IBM. Desjardins Global Asset Management Inc. increased its position in International Business Machines by 1.4% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 3,940 shares of the technology company’s stock valued at $644,000 after acquiring an additional 54 shares during the last quarter. Arden Trust Co grew its stake in shares of International Business Machines by 2.8% during the 1st quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock valued at $377,000 after purchasing an additional 54 shares during the period. Calamos Wealth Management LLC increased its position in shares of International Business Machines by 2.8% during the 4th quarter. Calamos Wealth Management LLC now owns 2,007 shares of the technology company’s stock valued at $328,000 after purchasing an additional 55 shares during the last quarter. Avion Wealth lifted its stake in shares of International Business Machines by 6.2% in the 4th quarter. Avion Wealth now owns 964 shares of the technology company’s stock worth $158,000 after purchasing an additional 56 shares during the period. Finally, Chicago Partners Investment Group LLC boosted its holdings in shares of International Business Machines by 0.8% in the fourth quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock worth $1,309,000 after buying an additional 58 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

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.