IBM (NYSE:IBM) Given “Buy” Rating at Credit Suisse Group
Credit Suisse Group reiterated their buy rating on shares of IBM (NYSE:IBM) in a research note published on Friday, AnalystRatings.com reports. The brokerage currently has a $173.00 target price on the technology company’s stock.
Other equities research analysts have also recently issued reports about the stock. BMO Capital Markets started coverage on shares of Yelp in a research note on Wednesday, April 17th. They issued an outperform rating on the stock. JPMorgan Chase & Co. cut shares of News from a neutral rating to an underweight rating in a research note on Thursday, July 18th. Citigroup lowered their price objective on shares of UnitedHealth Group from $288.00 to $247.00 and set a neutral rating on the stock in a research note on Wednesday, April 17th. ValuEngine cut shares of Zosano Pharma from a buy rating to a hold rating in a research note on Wednesday, May 1st. Finally, Zacks Investment Research cut shares of HANNOVER RUECK/S from a hold rating to a sell rating in a research note on Monday, April 22nd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $155.65.
Shares of NYSE IBM opened at $149.74 on Friday. The firm has a market cap of $132.71 billion, a PE ratio of 10.84, a price-to-earnings-growth ratio of 2.55 and a beta of 1.25. IBM has a 52 week low of $105.94 and a 52 week high of $154.36. The company has a 50-day simple moving average of $139.21. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.79 and a current ratio of 1.83.
In other IBM news, SVP Kenneth M. Keverian sold 2,227 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $135.15, for a total transaction of $300,979.05. Following the sale, the senior vice president now directly owns 32,878 shares of the company’s stock, valued at approximately $4,443,461.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kenneth M. Keverian sold 2,690 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $135.50, for a total transaction of $364,495.00. Following the transaction, the senior vice president now owns 34,665 shares in the company, valued at $4,697,107.50. The disclosure for this sale can be found here. Insiders have sold a total of 7,000 shares of company stock worth $940,430 over the last ninety days. 0.19% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in IBM. Swedbank lifted its holdings in shares of IBM by 21.1% during the 1st quarter. Swedbank now owns 1,404,199 shares of the technology company’s stock worth $198,132,000 after acquiring an additional 244,949 shares during the period. OLD Republic International Corp lifted its holdings in shares of IBM by 14.4% during the 1st quarter. OLD Republic International Corp now owns 572,000 shares of the technology company’s stock worth $80,709,000 after acquiring an additional 72,000 shares during the period. MUFG Securities EMEA plc lifted its holdings in shares of IBM by 44.8% during the 4th quarter. MUFG Securities EMEA plc now owns 216,780 shares of the technology company’s stock worth $24,641,000 after acquiring an additional 67,055 shares during the period. Joseph P. Lucia & Associates LLC purchased a new position in shares of IBM during the 1st quarter worth about $415,000. Finally, Marshall Wace LLP purchased a new position in shares of IBM during the 1st quarter worth about $6,882,000. Institutional investors and hedge funds own 55.18% of the company’s stock.
IBM Company Profile
International Business Machines Corporation operates as an integrated technology and services company worldwide. Its Cognitive Solutions segment offers a portfolio of enterprise artificial intelligence platforms, such as analytics and data management platforms, cloud data services, talent management, and industry solutions primarily under the Watson Platform, Watson Health, and Watson Internet of Things names.
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