International Business Machines (NYSE:IBM) Receives Outperform Rating from Wedbush

Wedbush reissued their outperform rating on shares of International Business Machines (NYSE:IBM) in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a $300.00 price target on the technology company’s stock.

Other equities analysts have also recently issued reports about the company. Morgan Stanley raised their price objective on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Royal Bank of Canada restated an “outperform” rating and set a $276.00 price target on shares of International Business Machines in a research report on Monday, April 14th. JPMorgan Chase & Co. increased their price objective on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Finally, UBS Group reissued a “sell” rating and set a $170.00 target price (up from $160.00) on shares of International Business Machines in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $242.41.

International Business Machines Stock Down 6.6 %

Shares of NYSE:IBM opened at $229.29 on Thursday. The firm has a market cap of $212.61 billion, a PE ratio of 35.77, a price-to-earnings-growth ratio of 5.81 and a beta of 0.67. The company has a fifty day simple moving average of $245.94 and a 200 day simple moving average of $233.89. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. International Business Machines has a 12-month low of $162.62 and a 12-month high of $266.45.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.18. The business had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. On average, equities research analysts anticipate that International Business Machines will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were issued a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.91%. International Business Machines’s dividend payout ratio is currently 104.21%.

Insider Buying and Selling

In other news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the sale, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Compass Financial Services Inc acquired a new position in shares of International Business Machines in the 4th quarter valued at about $26,000. Vision Financial Markets LLC purchased a new position in International Business Machines during the fourth quarter valued at approximately $31,000. Avondale Wealth Management increased its stake in International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after buying an additional 56 shares during the period. Valued Wealth Advisors LLC lifted its position in International Business Machines by 134.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after buying an additional 90 shares in the last quarter. Finally, Rialto Wealth Management LLC acquired a new stake in shares of International Business Machines during the 4th quarter valued at $35,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Company Profile

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.