Wedbush Increases International Business Machines (NYSE:IBM) Price Target to $160.00

International Business Machines (NYSE:IBM) had its price objective boosted by Wedbush from $140.00 to $160.00 in a report released on Thursday morning, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Several other research analysts also recently weighed in on IBM. Jefferies Financial Group cut their target price on shares of International Business Machines from $215.00 to $210.00 and set a hold rating for the company in a research note on Tuesday. Royal Bank of Canada upped their price objective on shares of International Business Machines from $179.00 to $200.00 and gave the company an outperform rating in a research note on Thursday, January 25th. BMO Capital Markets upped their price objective on shares of International Business Machines from $155.00 to $210.00 and gave the company a market perform rating in a research note on Thursday, January 25th. Sanford C. Bernstein upped their price objective on shares of International Business Machines from $165.00 to $186.00 and gave the company a market perform rating in a research note on Thursday, March 7th. Finally, StockNews.com cut International Business Machines from a buy rating to a hold rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $180.31.

International Business Machines Price Performance

Shares of International Business Machines stock traded down $2.05 on Thursday, hitting $166.86. The company’s stock had a trading volume of 4,308,067 shares, compared to its average volume of 4,947,655. International Business Machines has a 52-week low of $120.55 and a 52-week high of $199.18. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 2.22. The firm has a fifty day moving average price of $188.00 and a 200-day moving average price of $169.97. The company has a market capitalization of $152.97 billion, a P/E ratio of 18.91, a price-to-earnings-growth ratio of 3.62 and a beta of 0.70.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.50%. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.53 billion. During the same period in the previous year, the firm earned $1.36 EPS. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, equities research analysts expect 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 announced a quarterly dividend, which was paid on Saturday, March 9th. Stockholders of record on Friday, February 9th were paid a dividend of $1.66 per share. This represents a $6.64 annualized dividend and a dividend yield of 3.98%. The ex-dividend date was Thursday, February 8th. International Business Machines’s dividend payout ratio (DPR) is currently 75.20%.

Hedge Funds Weigh In On International Business Machines

Several institutional investors and hedge funds have recently made changes to their positions in IBM. Desjardins Global Asset Management Inc. raised its position in shares of International Business Machines by 1.4% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 3,940 shares of the technology company’s stock valued at $644,000 after acquiring an additional 54 shares in the last quarter. Arden Trust Co raised its position in shares of International Business Machines by 2.8% during the 1st quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock valued at $377,000 after acquiring an additional 54 shares in the last quarter. Calamos Wealth Management LLC increased its position in International Business Machines by 2.8% in the fourth quarter. Calamos Wealth Management LLC now owns 2,007 shares of the technology company’s stock worth $328,000 after buying an additional 55 shares during the period. Avion Wealth increased its position in International Business Machines by 6.2% in the fourth quarter. Avion Wealth now owns 964 shares of the technology company’s stock worth $158,000 after buying an additional 56 shares during the period. Finally, Chicago Partners Investment Group LLC increased its position in International Business Machines by 0.8% in the fourth quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock worth $1,309,000 after buying an additional 58 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

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.