Evercore ISI Boosts International Business Machines (NYSE:IBM) Price Target to $240.00

International Business Machines (NYSE:IBM) had its price target raised by Evercore ISI from $215.00 to $240.00 in a report published on Wednesday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the technology company’s stock.

A number of other equities analysts have also issued reports on the stock. BMO Capital Markets boosted their target price on shares of International Business Machines from $190.00 to $210.00 and gave the stock a market perform rating in a research report on Thursday, July 25th. The Goldman Sachs Group started coverage on shares of International Business Machines in a research report on Monday, June 24th. They set a buy rating and a $200.00 target price on the stock. Jefferies Financial Group boosted their target price on shares of International Business Machines from $190.00 to $200.00 and gave the stock a hold rating in a research report on Thursday, July 25th. UBS Group boosted their target price on shares of International Business Machines from $130.00 to $145.00 and gave the stock a sell rating in a research report on Wednesday, September 4th. Finally, Stifel Nicolaus boosted their price target on shares of International Business Machines from $190.00 to $205.00 and gave the company a buy rating in a report on Thursday, July 25th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $188.60.

International Business Machines Trading Up 1.5 %

Shares of IBM stock opened at $214.79 on Wednesday. International Business Machines has a 12 month low of $135.87 and a 12 month high of $216.09. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The business’s 50 day moving average is $192.83 and its two-hundred day moving average is $183.40. The company has a market cap of $197.85 billion, a PE ratio of 24.33, a price-to-earnings-growth ratio of 4.67 and a beta of 0.70.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter last year, the company posted $2.18 earnings per share. International Business Machines’s quarterly revenue was up 1.9% on a year-over-year basis. Equities analysts predict that International Business Machines will post 10.1 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were given a dividend of $1.67 per share. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 3.11%. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in IBM. Gilbert & Cook Inc. raised its holdings in International Business Machines by 2.7% during the 4th quarter. Gilbert & Cook Inc. now owns 3,892 shares of the technology company’s stock worth $637,000 after purchasing an additional 101 shares during the last quarter. Aveo Capital Partners LLC raised its holdings in International Business Machines by 3.6% during the 4th quarter. Aveo Capital Partners LLC now owns 3,101 shares of the technology company’s stock worth $507,000 after purchasing an additional 109 shares during the last quarter. Gryphon Financial Partners LLC raised its holdings in International Business Machines by 6.5% during the 4th quarter. Gryphon Financial Partners LLC now owns 2,394 shares of the technology company’s stock worth $386,000 after purchasing an additional 147 shares during the last quarter. Versor Investments LP bought a new stake in International Business Machines during the 4th quarter worth about $247,000. Finally, Wade G W & Inc. raised its holdings in International Business Machines by 15.4% during the 4th quarter. Wade G W & Inc. now owns 27,611 shares of the technology company’s stock worth $4,516,000 after purchasing an additional 3,692 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

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.