International Business Machines (NYSE:IBM) Downgraded by Wall Street Zen to Hold

Wall Street Zen downgraded shares of International Business Machines (NYSE:IBM) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

A number of other analysts have also issued reports on the company. JPMorgan Chase & Co. boosted their price objective on International Business Machines from $244.00 to $290.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. The Goldman Sachs Group boosted their price objective on International Business Machines from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. BMO Capital Markets boosted their price objective on International Business Machines from $260.00 to $300.00 and gave the company a “market perform” rating in a research note on Friday, July 18th. Sanford C. Bernstein started coverage on International Business Machines in a research note on Monday, September 15th. They set a “market perform” rating and a $280.00 price objective on the stock. Finally, Stifel Nicolaus upped their target price on International Business Machines from $290.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $286.38.

International Business Machines Stock Performance

NYSE:IBM opened at $280.95 on Friday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. International Business Machines has a 52-week low of $203.51 and a 52-week high of $301.04. The firm has a market cap of $261.12 billion, a price-to-earnings ratio of 45.61, a PEG ratio of 4.33 and a beta of 0.73. The business’s fifty day moving average is $261.07 and its 200 day moving average is $261.73.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.65 by $0.15. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.The company had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. During the same period in the previous year, the company posted $2.43 EPS. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. International Business Machines has set its FY 2025 guidance at EPS. Research analysts predict that International Business Machines will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were issued a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Friday, August 8th. International Business Machines’s dividend payout ratio is presently 109.09%.

Hedge Funds Weigh In On International Business Machines

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Lifestyle Asset Management Inc. boosted its holdings in shares of International Business Machines by 1.7% in the 2nd quarter. Lifestyle Asset Management Inc. now owns 2,144 shares of the technology company’s stock worth $632,000 after purchasing an additional 36 shares in the last quarter. Whelan Financial boosted its holdings in shares of International Business Machines by 2.4% in the 2nd quarter. Whelan Financial now owns 1,525 shares of the technology company’s stock worth $450,000 after purchasing an additional 36 shares in the last quarter. Ignite Planners LLC boosted its holdings in shares of International Business Machines by 0.9% in the 2nd quarter. Ignite Planners LLC now owns 3,964 shares of the technology company’s stock worth $1,133,000 after purchasing an additional 36 shares in the last quarter. Foster Group Inc. boosted its holdings in shares of International Business Machines by 1.6% in the 3rd quarter. Foster Group Inc. now owns 2,474 shares of the technology company’s stock worth $698,000 after purchasing an additional 38 shares in the last quarter. Finally, Blue Edge Capital LLC boosted its holdings in shares of International Business Machines by 0.6% in the 1st quarter. Blue Edge Capital LLC now owns 6,776 shares of the technology company’s stock worth $1,685,000 after purchasing an additional 39 shares in 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.