International Business Machines (NYSE:IBM – Get Free Report)‘s stock had its “outperform” rating reissued by stock analysts at Royal Bank of Canada in a research note issued to investors on Monday,Benzinga reports. They currently have a $250.00 price target on the technology company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 10.94% from the company’s current price.
A number of other analysts have also weighed in on the stock. Bank of America raised their target price on shares of International Business Machines from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. The Goldman Sachs Group boosted their price objective on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. increased their target price on International Business Machines from $227.00 to $233.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a report on Wednesday, October 2nd. Finally, Morgan Stanley raised their price objective on shares of International Business Machines from $208.00 to $222.00 and gave the company an “equal weight” rating in a report on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $220.40.
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International Business Machines Stock Up 0.5 %
Insider Activity at International Business Machines
In related 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 transaction, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.07% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On International Business Machines
Hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp increased its position in International Business Machines by 2.2% in the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after buying an additional 1,200,803 shares in the last quarter. FMR LLC increased its holdings in shares of International Business Machines by 6.0% during the third quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock valued at $1,148,717,000 after acquiring an additional 294,276 shares in the last quarter. Swiss National Bank raised its position in shares of International Business Machines by 0.5% during the third quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock worth $602,819,000 after purchasing an additional 12,400 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of International Business Machines by 20,324.5% in the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after purchasing an additional 2,702,340 shares in the last quarter. Finally, Holocene Advisors LP bought a new stake in International Business Machines during the 3rd quarter valued at $573,306,000. 58.96% of the stock is owned by 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.
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