International Business Machines (NYSE:IBM) Hits New 52-Week High on Analyst Upgrade

International Business Machines Co. (NYSE:IBM)’s stock price reached a new 52-week high during mid-day trading on Friday after Bernstein Bank raised their price target on the stock from $185.00 to $210.00. Bernstein Bank currently has a market perform rating on the stock. International Business Machines traded as high as $224.94 and last traded at $223.92, with a volume of 322788 shares trading hands. The stock had previously closed at $222.72.

A number of other analysts also recently issued reports on IBM. UBS Group raised their price target on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. BMO Capital Markets raised their target price on shares of International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Stifel Nicolaus raised their price objective on shares of International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and a consensus target price of $194.35.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Susquehanna Fundamental Investments LLC acquired a new stake in shares of International Business Machines in the 2nd quarter worth $7,160,000. Mosley Wealth Management acquired a new position in shares of International Business Machines during the fourth quarter valued at about $312,000. Hodges Capital Management Inc. boosted its stake in International Business Machines by 60.8% in the 1st quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock worth $3,921,000 after purchasing an additional 7,768 shares in the last quarter. Burns J W & Co. Inc. NY boosted its stake in International Business Machines by 10.8% in the 1st quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock worth $491,000 after purchasing an additional 250 shares in the last quarter. Finally, 1832 Asset Management L.P. acquired a new position in International Business Machines during the 4th quarter valued at approximately $3,017,000. 58.96% of the stock is owned by institutional investors.

International Business Machines Price Performance

The firm has a 50-day simple moving average of $202.93 and a two-hundred day simple moving average of $186.04. The company has a market capitalization of $205.88 billion, a price-to-earnings ratio of 25.22, a P/E/G ratio of 4.90 and a beta of 0.70. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping the consensus estimate of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same period last year, the company earned $2.18 earnings per share. International Business Machines’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, analysts predict that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.98%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio is currently 75.65%.

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.