International Business Machines Corp. (NYSE:IBM) had its price target cut by research analysts at Goldman Sachs Group Inc. from $147.00 to $145.00 in a research report issued on Tuesday. The firm presently has a “neutral” rating on the technology company’s stock. Goldman Sachs Group Inc.’s price target points to a potential downside of 6.31% from the company’s previous close.

Several other brokerages have also recently weighed in on IBM. Barclays PLC reiterated a “sell” rating on shares of International Business Machines Corp. in a research report on Sunday, July 17th. Morgan Stanley reiterated a “buy” rating and set a $168.00 price target on shares of International Business Machines Corp. in a research report on Sunday, July 17th. Cantor Fitzgerald reiterated a “hold” rating on shares of International Business Machines Corp. in a research report on Sunday, July 17th. Citigroup Inc. reiterated a “neutral” rating and set a $160.00 price target on shares of International Business Machines Corp. in a research report on Tuesday. Finally, Jefferies Group reiterated a “sell” rating and set a $125.00 price target on shares of International Business Machines Corp. in a research report on Tuesday. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $154.06.

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

International Business Machines Corp. (NYSE:IBM) opened at 154.77 on Tuesday. The company has a market cap of $147.94 billion, a PE ratio of 12.59 and a beta of 0.88. International Business Machines Corp. has a one year low of $116.90 and a one year high of $165.00. The stock has a 50 day moving average of $156.75 and a 200 day moving average of $154.35.

International Business Machines Corp. (NYSE:IBM) last announced its quarterly earnings data on Monday, October 17th. The technology company reported $3.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.24 by $0.05. International Business Machines Corp. had a return on equity of 88.92% and a net margin of 14.86%. The firm earned $19.23 billion during the quarter, compared to analysts’ expectations of $19 billion. During the same period last year, the business posted $3.34 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. On average, analysts anticipate that International Business Machines Corp. will post $13.51 earnings per share for the current fiscal year.

In other news, insider Robert J. Leblanc sold 15,708 shares of the company’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $162.25, for a total transaction of $2,548,623.00. Following the completion of the transaction, the insider now directly owns 61,374 shares of the company’s stock, valued at approximately $9,957,931.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Erich Clementi sold 6,000 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $160.28, for a total value of $961,680.00. Following the completion of the sale, the insider now directly owns 25,100 shares of the company’s stock, valued at $4,023,028. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Capital Research Global Investors boosted its stake in shares of International Business Machines Corp. by 81.1% in the second quarter. Capital Research Global Investors now owns 7,135,471 shares of the technology company’s stock worth $1,083,022,000 after buying an additional 3,194,471 shares during the period. State Street Corp boosted its stake in shares of International Business Machines Corp. by 2.5% in the first quarter. State Street Corp now owns 50,852,184 shares of the technology company’s stock worth $7,701,559,000 after buying an additional 1,230,826 shares during the period. Vanguard Group Inc. boosted its stake in shares of International Business Machines Corp. by 2.2% in the second quarter. Vanguard Group Inc. now owns 55,476,336 shares of the technology company’s stock worth $8,420,198,000 after buying an additional 1,216,940 shares during the period. BlackRock Fund Advisors boosted its stake in shares of International Business Machines Corp. by 10.0% in the first quarter. BlackRock Fund Advisors now owns 12,645,562 shares of the technology company’s stock worth $1,915,170,000 after buying an additional 1,154,028 shares during the period. Finally, Capital World Investors boosted its stake in shares of International Business Machines Corp. by 22.3% in the second quarter. Capital World Investors now owns 5,322,000 shares of the technology company’s stock worth $807,773,000 after buying an additional 972,000 shares during the period. 57.63% of the stock is owned by hedge funds and other institutional investors.

About International Business Machines Corp.

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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