Bank of America Boosts International Business Machines (NYSE:IBM) Price Target to $260.00

International Business Machines (NYSE:IBM) had its price target increased by Bank of America from $250.00 to $260.00 in a report published on Thursday,Benzinga reports. Bank of America currently has a buy rating on the technology company’s stock.

IBM has been the topic of several other reports. Jefferies Financial Group upped their price target on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Bernstein Bank upped their target price on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Morgan Stanley upped their price objective on shares of International Business Machines from $208.00 to $222.00 and gave the stock an “equal weight” rating in a report on Monday, December 16th. Finally, Stifel Nicolaus boosted their price target on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $220.73.

International Business Machines Stock Up 1.1 %

Shares of NYSE IBM opened at $225.63 on Thursday. The firm has a fifty day simple moving average of $223.60 and a two-hundred day simple moving average of $211.90. The firm has a market capitalization of $208.63 billion, a PE ratio of 32.84, a price-to-earnings-growth ratio of 4.80 and a beta of 0.74. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. International Business Machines has a 12 month low of $162.62 and a 12 month high of $239.35.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same period last year, the business posted $2.20 earnings per share. International Business Machines’s quarterly revenue was up 1.5% compared to the same quarter last year. Equities analysts expect that International Business Machines will post 10.16 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the sale, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.07% of the company’s stock.

Institutional Trading of International Business Machines

A number of hedge funds have recently bought and sold shares of IBM. Meeder Asset Management Inc. increased its position in shares of International Business Machines by 40.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after purchasing an additional 166 shares during the last quarter. Brady Martz Wealth Solutions LLC bought a new stake in International Business Machines during the fourth quarter valued at approximately $1,940,000. Susquehanna Fundamental Investments LLC purchased a new stake in International Business Machines during the second quarter valued at approximately $7,160,000. Philip James Wealth Mangement LLC bought a new position in International Business Machines in the third quarter worth approximately $5,117,000. Finally, Nordea Investment Management AB boosted its stake in shares of International Business Machines by 6.5% during the 4th quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock worth $16,615,000 after acquiring an additional 4,625 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

About International Business Machines

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.