International Business Machines Corp. (NYSE:IBM)‘s stock had its “underperform” rating reissued by equities research analysts at Credit Suisse Group AG in a research note issued to investors on Wednesday. They presently have a $110.00 price objective on the technology company’s stock. Credit Suisse Group AG’s price objective indicates a potential downside of 28.94% from the company’s previous close.

IBM has been the topic of a number of other reports. Societe Generale upgraded International Business Machines Corp. from a “sell” rating to a “hold” rating in a report on Monday, September 26th. Zacks Investment Research lowered International Business Machines Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, September 20th. Vetr upgraded International Business Machines Corp. from a “sell” rating to a “hold” rating and set a $156.55 price target on the stock in a report on Monday, August 29th. JMP Securities reiterated a “buy” rating and set a $157.00 price target on shares of International Business Machines Corp. in a report on Thursday, June 23rd. Finally, Morgan Stanley reiterated an “overweight” rating on shares of International Business Machines Corp. in a report on Wednesday, June 29th. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have assigned a buy rating to the stock. International Business Machines Corp. currently has a consensus rating of “Hold” and a consensus target price of $154.47.

Analyst Recommendations for International Business Machines Corp. (NYSE:IBM)

Shares of International Business Machines Corp. (NYSE:IBM) opened at 154.79 on Wednesday. International Business Machines Corp. has a 52 week low of $116.90 and a 52 week high of $165.00. The stock’s 50 day moving average price is $157.29 and its 200-day moving average price is $154.21. The company has a market cap of $147.96 billion, a PE ratio of 12.59 and a beta of 0.88.

International Business Machines Corp. (NYSE:IBM) last posted its earnings results on Monday, July 18th. The technology company reported $2.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.89 by $0.06. International Business Machines Corp. had a return on equity of 88.92% and a net margin of 14.86%. The company had revenue of $20.20 billion for the quarter, compared to analyst estimates of $20.03 billion. During the same quarter last year, the company earned $3.84 earnings per share. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. Analysts expect that International Business Machines Corp. will post $13.51 EPS for the current year.

In other news, insider Robert J. Leblanc sold 15,708 shares of the business’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $162.25, for a total value of $2,548,623.00. Following the completion of the sale, the insider now owns 61,374 shares of the company’s stock, valued at approximately $9,957,931.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Robert J. Picciano sold 1,922 shares of the business’s stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $159.16, for a total value of $305,905.52. Following the completion of the sale, the insider now directly owns 35,861 shares of the company’s stock, valued at approximately $5,707,636.76. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sun Life Financial INC acquired a new position in International Business Machines Corp. during the first quarter worth approximately $45,284,000. Roble Belko & Company Inc raised its position in International Business Machines Corp. by 2.9% in the second quarter. Roble Belko & Company Inc now owns 674 shares of the technology company’s stock worth $102,000 after buying an additional 19 shares during the last quarter. Thomas J. Herzfeld Advisors Inc. acquired a new position in International Business Machines Corp. during the second quarter worth approximately $105,000. Cypress Capital Management LLC WY acquired a new position in International Business Machines Corp. during the second quarter worth approximately $107,000. Finally, Jackson Grant Investment Advisers Inc. raised its position in International Business Machines Corp. by 0.7% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 726 shares of the technology company’s stock worth $110,000 after buying an additional 5 shares during the last quarter. 57.61% of the stock is owned by institutional investors and hedge funds.

International Business Machines Corp. Company Profile

International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Global Technology Services (GTS), Global Business Services (GBS), Software, Systems Hardware and Global Financing. The Company’s GTS segment offers services, including strategic outsourcing, integrated technology services, cloud and technology support services (maintenance services).

5 Day Chart for NYSE:IBM

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