International Business Machines (NYSE:IBM) Price Target Raised to $222.00

International Business Machines (NYSE:IBM) had its price target upped by Morgan Stanley from $208.00 to $222.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s target price would suggest a potential downside of 3.05% from the company’s previous close.

A number of other brokerages also recently weighed in on IBM. Evercore ISI increased their price target on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. UBS Group raised their target price on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research note on Thursday, October 24th. The Goldman Sachs Group raised their price objective 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. Finally, BMO Capital Markets boosted their target price on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, International Business Machines currently has an average rating of “Hold” and a consensus target price of $208.94.

International Business Machines Price Performance

International Business Machines stock opened at $228.98 on Monday. The stock’s 50 day moving average is $222.72 and its 200 day moving average is $202.89. International Business Machines has a one year low of $157.88 and a one year high of $239.35. The firm has a market cap of $211.73 billion, a P/E ratio of 33.33, a P/E/G ratio of 5.17 and a beta of 0.73. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter in the previous year, the company earned $2.20 EPS. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, research analysts expect that International Business Machines will post 10.12 EPS for the current year.

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the sale, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.07% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IBM. Lantz Financial LLC increased its position in shares of International Business Machines by 0.9% during the second quarter. Lantz Financial LLC now owns 11,935 shares of the technology company’s stock valued at $2,064,000 after acquiring an additional 107 shares during the last quarter. Focus Financial Network Inc. raised its stake in shares of International Business Machines by 3.9% during the 2nd quarter. Focus Financial Network Inc. now owns 6,351 shares of the technology company’s stock worth $1,190,000 after purchasing an additional 236 shares during the period. Summit Global Investments boosted its holdings in shares of International Business Machines by 5.4% in the 2nd quarter. Summit Global Investments now owns 2,079 shares of the technology company’s stock worth $359,000 after buying an additional 107 shares during the last quarter. KG&L Capital Management LLC grew its position in International Business Machines by 183.9% during the second quarter. KG&L Capital Management LLC now owns 6,757 shares of the technology company’s stock valued at $1,167,000 after buying an additional 4,377 shares during the period. Finally, Vicus Capital increased its holdings in International Business Machines by 4.6% during the second quarter. Vicus Capital now owns 3,556 shares of the technology company’s stock worth $615,000 after buying an additional 157 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

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.