International Business Machines (NYSE:IBM) Price Target Cut to $185.00 by Analysts at JPMorgan Chase & Co.

International Business Machines (NYSE:IBM) had its price target decreased by JPMorgan Chase & Co. from $190.00 to $185.00 in a research report report published on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the technology company’s stock.

A number of other brokerages have also issued reports on IBM. Societe Generale reiterated a sell rating and issued a $143.00 price target on shares of International Business Machines in a research note on Friday, January 5th. UBS Group raised their target price on shares of International Business Machines from $125.00 to $130.00 and gave the company a sell rating in a research note on Monday. Bank of America raised their target price on shares of International Business Machines from $200.00 to $220.00 and gave the company a buy rating in a research note on Thursday, March 14th. Evercore ISI raised shares of International Business Machines from an in-line rating to an outperform rating and raised their target price for the company from $165.00 to $200.00 in a research note on Friday, January 19th. Finally, StockNews.com cut shares of International Business Machines from a buy rating to a hold rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, International Business Machines presently has an average rating of Hold and an average target price of $184.08.

International Business Machines Stock Performance

Shares of International Business Machines stock traded down $1.99 during mid-day trading on Thursday, hitting $166.92. 5,716,131 shares of the stock were exchanged, compared to its average volume of 4,964,420. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.93 and a current ratio of 0.96. The company has a market capitalization of $153.02 billion, a P/E ratio of 18.96, a P/E/G ratio of 3.62 and a beta of 0.70. The company has a 50-day simple moving average of $188.00 and a 200 day simple moving average of $169.97. 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 released its quarterly earnings results on Wednesday, April 24th. The technology company reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. International Business Machines had a return on equity of 40.50% and a net margin of 13.18%. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. During the same quarter in the prior year, the company posted $1.36 EPS. International Business Machines’s quarterly revenue was up 1.5% compared to the same quarter last year. Sell-side analysts anticipate that International Business Machines will post 10.04 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 9th. Shareholders of record on Friday, February 9th were paid a $1.66 dividend. This represents a $6.64 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date was Thursday, February 8th. International Business Machines’s payout ratio is 75.20%.

Hedge Funds Weigh In On International Business Machines

Several hedge funds and other institutional investors have recently bought and sold shares of IBM. Advisory Alpha LLC increased its holdings in shares of International Business Machines by 84.1% in the 3rd quarter. Advisory Alpha LLC now owns 7,356 shares of the technology company’s stock valued at $1,032,000 after acquiring an additional 3,361 shares during the last quarter. Secure Asset Management LLC bought a new position in International Business Machines during the 3rd quarter worth $214,000. Asset Management One Co. Ltd. grew its stake in International Business Machines by 2.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 529,406 shares of the technology company’s stock worth $74,276,000 after buying an additional 11,016 shares during the last quarter. Benin Management CORP grew its stake in International Business Machines by 1.8% during the 3rd quarter. Benin Management CORP now owns 5,593 shares of the technology company’s stock worth $785,000 after buying an additional 100 shares during the last quarter. Finally, Aaron Wealth Advisors LLC grew its stake in International Business Machines by 86.6% during the 3rd quarter. Aaron Wealth Advisors LLC now owns 307,827 shares of the technology company’s stock worth $43,188,000 after buying an additional 142,886 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Company Profile

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.