International Business Machines (NYSE:IBM) Price Target Cut to $185.00

International Business Machines (NYSE:IBM) had its price objective dropped by research analysts at JPMorgan Chase & Co. from $190.00 to $185.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 9.83% from the stock’s current price.

IBM has been the subject of several other reports. Sanford C. Bernstein upped their price objective on International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research report on Thursday, March 7th. UBS Group upped their price objective on International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a research report on Monday. BMO Capital Markets reduced their price objective on International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a research report on Thursday. Evercore raised International Business Machines from an “in-line” rating to an “outperform” rating and increased their price target for the company from $165.00 to $200.00 in a research report on Friday, January 19th. Finally, Wedbush raised their price objective on International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, International Business Machines presently has an average rating of “Hold” and an average price target of $180.31.

International Business Machines Trading Down 8.5 %

NYSE IBM traded down $15.66 on Thursday, reaching $168.44. The company had a trading volume of 12,681,322 shares, compared to its average volume of 4,901,624. The stock’s 50 day moving average is $188.36 and its 200-day moving average is $169.98. The stock has a market cap of $154.42 billion, a price-to-earnings ratio of 20.72, a PEG ratio of 3.58 and a beta of 0.70. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 2.22. International Business Machines has a 52 week low of $120.55 and a 52 week high of $199.18.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. International Business Machines had a return on equity of 39.55% and a net margin of 12.13%. The firm’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.36 earnings per share. Equities analysts predict that International Business Machines will post 10.04 earnings per share for the current year.

Institutional Investors Weigh In On International Business Machines

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of International Business Machines by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 82,076,195 shares of the technology company’s stock valued at $11,515,290,000 after purchasing an additional 365,388 shares in the last quarter. Morgan Stanley boosted its holdings in shares of International Business Machines by 13.4% during the 3rd quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock valued at $2,280,968,000 after acquiring an additional 1,919,490 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of International Business Machines by 4.2% during the 3rd quarter. Northern Trust Corp now owns 9,970,674 shares of the technology company’s stock valued at $1,398,886,000 after acquiring an additional 404,948 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of International Business Machines by 10.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 8,691,369 shares of the technology company’s stock valued at $1,219,399,000 after acquiring an additional 807,357 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of International Business Machines by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,465,214 shares of the technology company’s stock valued at $1,048,631,000 after acquiring an additional 61,028 shares in 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.