Morgan Stanley Trims International Business Machines (NYSE:IBM) Target Price to $208.00

International Business Machines (NYSE:IBM) had its target price cut by investment analysts at Morgan Stanley from $217.00 to $208.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s target price indicates a potential downside of 3.06% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Bank of America raised their price target on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. BMO Capital Markets boosted their target price on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday. The Goldman Sachs Group increased their price target on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada lifted their target price on International Business Machines from $211.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $208.12.

International Business Machines Stock Performance

Shares of IBM stock opened at $214.57 on Thursday. The company’s fifty day moving average price is $215.16 and its two-hundred day moving average price is $190.25. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The firm has a market capitalization of $197.65 billion, a P/E ratio of 23.66, a P/E/G ratio of 4.84 and a beta of 0.70. International Business Machines has a 12 month low of $141.58 and a 12 month high of $237.37.

International Business Machines (NYSE:IBM) last released its quarterly earnings results 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 return on equity of 40.59% and a net margin of 13.52%. The business had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter in the previous year, the firm posted $2.20 earnings per share. The company’s revenue was up 1.5% compared to the same quarter last year. On average, research analysts anticipate that International Business Machines will post 10.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On International Business Machines

Large investors have recently made changes to their positions in the company. Cornerstone Wealth Group LLC raised its stake in International Business Machines by 2.2% during the 3rd quarter. Cornerstone Wealth Group LLC now owns 3,674 shares of the technology company’s stock valued at $812,000 after acquiring an additional 80 shares in the last quarter. Diversify Wealth Management LLC grew its stake in shares of International Business Machines by 32.9% in the third quarter. Diversify Wealth Management LLC now owns 14,790 shares of the technology company’s stock worth $3,442,000 after purchasing an additional 3,660 shares in the last quarter. First Trust Direct Indexing L.P. raised its stake in shares of International Business Machines by 15.6% during the third quarter. First Trust Direct Indexing L.P. now owns 32,225 shares of the technology company’s stock valued at $7,124,000 after purchasing an additional 4,348 shares in the last quarter. WASHINGTON TRUST Co lifted its holdings in International Business Machines by 2.0% in the third quarter. WASHINGTON TRUST Co now owns 13,360 shares of the technology company’s stock worth $2,954,000 after purchasing an additional 266 shares during the period. Finally, Golden State Equity Partners grew its position in International Business Machines by 2.7% in the 3rd quarter. Golden State Equity Partners now owns 12,045 shares of the technology company’s stock valued at $2,663,000 after buying an additional 316 shares in the last quarter. Institutional investors and hedge funds 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.