International Business Machines (NYSE:IBM) Price Target Raised to $290.00

International Business Machines (NYSE:IBM) had its price target lifted by Bank of America from $270.00 to $290.00 in a research report report published on Monday,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

Several other brokerages have also issued reports on IBM. Jefferies Financial Group reiterated a “hold” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Morgan Stanley lowered their price objective on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Wall Street Zen downgraded International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st. UBS Group reissued a “sell” rating and issued a $170.00 price objective (up from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, Erste Group Bank raised International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $250.31.

International Business Machines Stock Up 1.9%

Shares of NYSE:IBM opened at $281.61 on Monday. The business’s 50 day simple moving average is $250.36 and its two-hundred day simple moving average is $242.96. The firm has a market cap of $261.73 billion, a P/E ratio of 43.93, a PEG ratio of 5.81 and a beta of 0.66. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. International Business Machines has a 52-week low of $167.23 and a 52-week high of $281.75.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 38.99% and a net margin of 9.60%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.68 earnings per share. As a group, research analysts forecast that International Business Machines will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were given a $1.68 dividend. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a yield of 2.39%. International Business Machines’s dividend payout ratio (DPR) is currently 115.66%.

Institutional Trading of International Business Machines

A number of large investors have recently bought and sold shares of the company. Blue Edge Capital LLC increased its position in International Business Machines by 0.6% in the first quarter. Blue Edge Capital LLC now owns 6,776 shares of the technology company’s stock worth $1,685,000 after buying an additional 39 shares during the last quarter. JBR Co Financial Management Inc increased its position in International Business Machines by 0.6% in the fourth quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company’s stock worth $1,405,000 after buying an additional 40 shares during the last quarter. Wealth Dimensions Group Ltd. boosted its holdings in shares of International Business Machines by 1.0% in the fourth quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company’s stock worth $873,000 after acquiring an additional 40 shares during the period. Tacita Capital Inc boosted its holdings in shares of International Business Machines by 20.8% in the first quarter. Tacita Capital Inc now owns 232 shares of the technology company’s stock worth $58,000 after acquiring an additional 40 shares during the period. Finally, Pallas Capital Advisors LLC boosted its holdings in shares of International Business Machines by 0.9% in the first quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company’s stock worth $1,195,000 after acquiring an additional 42 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

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.