International Business Machines (NYSE:IBM) Given New $217.00 Price Target at Morgan Stanley

International Business Machines (NYSE:IBM) had its price target dropped by investment analysts at Morgan Stanley from $222.00 to $217.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s price objective would suggest a potential downside of 3.45% from the stock’s current price.

Several other analysts have also recently commented on IBM. Bank of America raised their target price on International Business Machines from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Sanford C. Bernstein raised their target price on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Jefferies Financial Group raised their target price on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research report on Monday. Finally, UBS Group lifted their price objective on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research report on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, nine 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 a consensus rating of “Hold” and an average price target of $220.40.

International Business Machines Price Performance

Shares of IBM stock traded up $0.62 during mid-day trading on Tuesday, hitting $224.75. 1,426,721 shares of the stock traded hands, compared to its average volume of 3,506,051. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The firm has a market cap of $207.82 billion, a price-to-earnings ratio of 32.70, a price-to-earnings-growth ratio of 4.78 and a beta of 0.74. The company’s 50-day simple moving average is $224.65 and its 200-day simple moving average is $213.14. International Business Machines has a twelve month low of $162.62 and a twelve month high of $239.35.

Insider Transactions at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.07% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On International Business Machines

Several institutional investors and hedge funds have recently added to or reduced their stakes in IBM. Magnolia Capital Advisors LLC acquired a new stake in International Business Machines during the second quarter valued at approximately $520,000. Northwestern Mutual Wealth Management Co. boosted its holdings in International Business Machines by 2.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 93,058 shares of the technology company’s stock valued at $16,095,000 after purchasing an additional 2,001 shares in the last quarter. Regal Investment Advisors LLC boosted its holdings in International Business Machines by 2.1% during the second quarter. Regal Investment Advisors LLC now owns 18,938 shares of the technology company’s stock valued at $3,275,000 after purchasing an additional 393 shares in the last quarter. EP Wealth Advisors LLC boosted its holdings in International Business Machines by 11.3% during the second quarter. EP Wealth Advisors LLC now owns 31,481 shares of the technology company’s stock valued at $5,445,000 after purchasing an additional 3,208 shares in the last quarter. Finally, Advisory Alpha LLC boosted its holdings in International Business Machines by 0.8% during the second quarter. Advisory Alpha LLC now owns 7,748 shares of the technology company’s stock valued at $1,340,000 after purchasing an additional 65 shares in the last quarter. 58.96% of the stock is currently owned by 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.