International Business Machines (NYSE:IBM) Receives Outperform Rating from Wedbush

Wedbush reissued their outperform rating on shares of International Business Machines (NYSE:IBM) in a research note released on Thursday,Benzinga reports. They currently have a $300.00 target price on the technology company’s stock.

IBM has been the topic of a number of other research reports. The Goldman Sachs Group restated a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Royal Bank of Canada restated an “outperform” rating and issued a $276.00 price target on shares of International Business Machines in a research report on Monday, April 14th. JPMorgan Chase & Co. boosted their price objective on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. BMO Capital Markets restated a “market perform” rating on shares of International Business Machines in a report on Wednesday. Finally, Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $242.41.

International Business Machines Trading Down 6.6 %

Shares of International Business Machines stock opened at $229.29 on Thursday. The firm has a market cap of $212.61 billion, a price-to-earnings ratio of 35.77, a price-to-earnings-growth ratio of 5.81 and a beta of 0.67. The company’s 50-day simple moving average is $245.94 and its 200-day simple moving average is $233.89. International Business Machines has a 52-week low of $162.62 and a 52-week high of $266.45. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.18. The business had revenue of $14.54 billion for the quarter, compared to analysts’ expectations of $14.41 billion. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. As a group, equities research analysts anticipate that International Business Machines will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were issued a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.91%. International Business Machines’s payout ratio is 104.21%.

Insiders Place Their Bets

In related news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the sale, the senior vice president now owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is currently owned by insiders.

Institutional Investors Weigh In On International Business Machines

Several large investors have recently made changes to their positions in the business. Compass Financial Services Inc acquired a new stake in International Business Machines in the 4th quarter valued at $26,000. Vision Financial Markets LLC purchased a new stake in shares of International Business Machines in the fourth quarter worth about $31,000. Avondale Wealth Management grew its stake in shares of International Business Machines by 56.0% in the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after buying an additional 56 shares in the last quarter. Valued Wealth Advisors LLC raised its holdings in shares of International Business Machines by 134.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after buying an additional 90 shares during the period. Finally, Rialto Wealth Management LLC acquired a new position in International Business Machines during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds 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.