International Business Machines (NYSE:IBM) Rating Lowered to Hold at StockNews.com

International Business Machines (NYSE:IBM) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

A number of other research analysts have also recently commented on the stock. KGI Securities set a $242.00 price target on shares of International Business Machines and gave the stock a “hold” rating in a research note on Thursday, April 24th. Wedbush restated an “outperform” rating and set a $300.00 target price on shares of International Business Machines in a research report on Thursday, April 24th. UBS Group reiterated a “sell” rating and issued a $170.00 price target (up from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. Finally, Bank of America boosted their target price on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $248.50.

International Business Machines Price Performance

Shares of IBM stock opened at $245.49 on Friday. The company has a market capitalization of $228.16 billion, a P/E ratio of 38.30, a P/E/G ratio of 5.81 and a beta of 0.64. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. International Business Machines has a 12 month low of $163.53 and a 12 month high of $266.45. The stock has a 50 day moving average of $243.19 and a two-hundred day moving average of $234.15.

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. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The firm had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter in the previous year, the company earned $1.68 earnings per share. The business’s revenue was up .5% compared to the same quarter last year. As a group, equities analysts expect that International Business Machines will post 10.78 EPS for the current year.

Insider Activity

In related news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the transaction, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Treasurer of the State of North Carolina boosted its stake in International Business Machines by 0.8% in the fourth quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company’s stock valued at $108,942,000 after acquiring an additional 4,131 shares during the last quarter. Blue Zone Wealth Advisors LLC bought a new position in shares of International Business Machines in the 4th quarter worth $242,000. Brady Martz Wealth Solutions LLC acquired a new stake in shares of International Business Machines during the fourth quarter worth $1,940,000. Tranquilli Financial Advisor LLC bought a new stake in International Business Machines in the fourth quarter valued at about $373,000. Finally, Truist Financial Corp lifted its stake in International Business Machines by 6.5% in the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock valued at $178,296,000 after buying an additional 49,591 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

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.