International Business Machines (NYSE:IBM) Price Target Raised to $246.00 at Stifel Nicolaus

International Business Machines (NYSE:IBM) had its price objective boosted by Stifel Nicolaus from $205.00 to $246.00 in a report released on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

A number of other equities analysts also recently issued reports on IBM. DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a research report on Wednesday, October 2nd. BMO Capital Markets lifted their price target on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Evercore ISI boosted their price target on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. UBS Group increased their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. Finally, Bank of America boosted their target price on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $203.06.

International Business Machines Stock Performance

IBM opened at $232.20 on Wednesday. The firm has a fifty day moving average price of $212.19 and a 200 day moving average price of $189.15. International Business Machines has a 1 year low of $135.87 and a 1 year high of $237.37. The stock has a market cap of $213.30 billion, a P/E ratio of 26.30, a P/E/G ratio of 5.21 and a beta of 0.70. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter in the prior year, the firm posted $2.18 earnings per share. The company’s revenue was up 1.9% compared to the same quarter last year. Equities research analysts anticipate that International Business Machines will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed 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 of this dividend was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a yield of 2.88%. International Business Machines’s payout ratio is 75.65%.

Institutional Trading of International Business Machines

Several large investors have recently added to or reduced their stakes in the stock. FPC Investment Advisory Inc. acquired a new position in shares of International Business Machines during the 1st quarter valued at about $26,000. ESL Trust Services LLC purchased a new position in International Business Machines during the first quarter worth about $28,000. Oliver Lagore Vanvalin Investment Group acquired a new position in International Business Machines in the 2nd quarter valued at about $36,000. Financial Synergies Wealth Advisors Inc. grew its stake in shares of International Business Machines by 164.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after buying an additional 123 shares during the period. Finally, Wolff Wiese Magana LLC increased its holdings in shares of International Business Machines by 37.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after buying an additional 60 shares during the last quarter. 58.96% of the stock is currently 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.