BNP Paribas Begins Coverage on International Business Machines (NYSE:IBM)

BNP Paribas assumed coverage on shares of International Business Machines (NYSE:IBM) in a report issued on Thursday, MarketBeat reports. The firm issued an underperform rating and a $145.00 price objective on the technology company’s stock.

IBM has been the topic of a number of other research reports. Societe Generale reaffirmed a sell rating and set a $143.00 price target on shares of International Business Machines in a research report on Friday, January 5th. Royal Bank of Canada increased their price objective on International Business Machines from $179.00 to $200.00 and gave the stock an outperform rating in a report on Thursday, January 25th. JPMorgan Chase & Co. dropped their price objective on International Business Machines from $190.00 to $185.00 and set a neutral rating on the stock in a report on Thursday, April 25th. StockNews.com cut International Business Machines from a buy rating to a hold rating in a report on Wednesday. Finally, Evercore raised International Business Machines from an in-line rating to an outperform rating and increased their price objective for the stock from $165.00 to $200.00 in a report on Friday, January 19th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given 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 $181.29.

International Business Machines Stock Performance

NYSE:IBM traded up $1.02 during trading on Thursday, reaching $165.71. The company’s stock had a trading volume of 3,400,405 shares, compared to its average volume of 4,768,629. The firm has a market cap of $152.22 billion, a price-to-earnings ratio of 18.77, a price-to-earnings-growth ratio of 4.08 and a beta of 0.74. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13. The firm has a 50 day moving average of $185.75 and a 200-day moving average of $171.01. International Business Machines has a 12 month low of $120.55 and a 12 month high of $199.18.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. During the same quarter in the prior year, the company earned $1.36 EPS. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. Research analysts expect that International Business Machines will post 9.92 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 4.03%. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date is Thursday, May 9th. International Business Machines’s dividend payout ratio (DPR) is currently 75.20%.

Hedge Funds Weigh In On International Business Machines

Large investors have recently modified their holdings of the company. Naples Money Management LLC purchased a new position in International Business Machines in the 4th quarter worth approximately $28,000. Creekmur Asset Management LLC purchased a new position in International Business Machines in the 4th quarter worth approximately $29,000. Ables Iannone Moore & Associates Inc. purchased a new position in International Business Machines in the 4th quarter worth approximately $31,000. Financial Synergies Wealth Advisors Inc. increased its stake in 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 worth $38,000 after purchasing an additional 123 shares during the period. Finally, American Capital Advisory LLC increased its stake in International Business Machines by 75.0% in the 1st quarter. American Capital Advisory LLC now owns 203 shares of the technology company’s stock worth $39,000 after purchasing an additional 87 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

About International Business Machines

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.