International Business Machines (NYSE:IBM) Given New $300.00 Price Target at BMO Capital Markets

International Business Machines (NYSE:IBM) had its price objective increased by equities research analysts at BMO Capital Markets from $260.00 to $300.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “market perform” rating on the technology company’s stock. BMO Capital Markets’ price target suggests a potential upside of 4.80% from the stock’s previous close.

Several other equities analysts have also recently weighed in on IBM. Morgan Stanley lowered their price objective on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Bank of America raised their target price on shares of International Business Machines from $290.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, June 18th. Royal Bank Of Canada increased their price target on shares of International Business Machines from $285.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday. Jefferies Financial Group restated a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, Wall Street Zen cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, International Business Machines has a consensus rating of “Moderate Buy” and a consensus price target of $266.19.

International Business Machines Stock Up 1.5%

Shares of IBM traded up $4.25 during midday trading on Friday, hitting $286.25. The company had a trading volume of 386,600 shares, compared to its average volume of 4,211,771. International Business Machines has a 52 week low of $181.81 and a 52 week high of $296.16. The company’s 50 day moving average price is $275.65 and its 200 day moving average price is $253.56. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. The stock has a market cap of $266.04 billion, a price-to-earnings ratio of 49.23, a PEG ratio of 5.92 and a beta of 0.69.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.42 by $0.18. The business had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the business posted $1.68 EPS. On average, equities research analysts predict that International Business Machines will post 10.78 EPS for the current year.

Institutional Trading of International Business Machines

Several hedge funds and other institutional investors have recently bought and sold shares of IBM. Vanguard Group Inc. grew its stake in International Business Machines by 1.4% in the first quarter. Vanguard Group Inc. now owns 93,137,767 shares of the technology company’s stock worth $23,159,637,000 after purchasing an additional 1,298,515 shares during the period. Geode Capital Management LLC grew its stake in shares of International Business Machines by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company’s stock worth $4,589,145,000 after acquiring an additional 427,499 shares during the last quarter. Capital World Investors grew its stake in shares of International Business Machines by 413.5% in the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock worth $2,634,577,000 after acquiring an additional 9,650,534 shares during the last quarter. Northern Trust Corp grew its stake in shares of International Business Machines by 18.6% in the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock worth $2,384,275,000 after acquiring an additional 1,704,209 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of International Business Machines by 6.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,636,725 shares of the technology company’s stock worth $2,147,608,000 after acquiring an additional 524,633 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

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.