Citigroup Raises IBM (IBM) Price Target to $140.00

IBM (NYSE:IBM) had its price objective hoisted by Citigroup from $130.00 to $140.00 in a research report report published on Wednesday morning, The Fly reports. They currently have a neutral rating on the technology company’s stock.

IBM has been the topic of a number of other reports. ValuEngine upgraded IBM from a sell rating to a hold rating in a research note on Wednesday, February 13th. Wedbush restated a hold rating and issued a $131.00 price target on shares of IBM in a research note on Wednesday, January 23rd. BMO Capital Markets lifted their price target on IBM to $147.00 and gave the company a market perform rating in a research note on Wednesday, January 23rd. They noted that the move was a valuation call. Cantor Fitzgerald restated a hold rating and issued a $140.00 price target on shares of IBM in a research note on Wednesday, January 16th. Finally, Stifel Nicolaus lifted their price target on IBM from $145.00 to $178.00 and gave the company a buy rating in a research note on Tuesday, January 15th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. IBM has an average rating of Hold and an average target price of $155.72.

NYSE:IBM opened at $140.33 on Wednesday. The company has a market capitalization of $124.87 billion, a PE ratio of 10.30, a P/E/G ratio of 2.55 and a beta of 1.25. The company has a current ratio of 1.36, a quick ratio of 1.24 and a debt-to-equity ratio of 2.61. IBM has a 12-month low of $105.94 and a 12-month high of $154.36.

IBM (NYSE:IBM) last released its earnings results on Tuesday, April 16th. The technology company reported $2.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.22 by $0.03. The business had revenue of $18.18 billion for the quarter, compared to analyst estimates of $18.53 billion. IBM had a return on equity of 68.76% and a net margin of 10.98%. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.45 earnings per share. Equities analysts predict that IBM will post 13.89 earnings per share for the current year.

In other IBM news, insider Diane J. Gherson sold 1,989 shares of the business’s stock in a transaction on Wednesday, February 13th. The stock was sold at an average price of $137.25, for a total transaction of $272,990.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Erich Clementi sold 13,000 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $139.01, for a total value of $1,807,130.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,867 shares of company stock worth $2,877,569. 0.19% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Nalls Sherbakoff Group LLC purchased a new stake in IBM during the fourth quarter worth $34,000. Sycomore Asset Management purchased a new stake in shares of IBM in the fourth quarter valued at $81,000. Sharkey Howes & Javer lifted its position in shares of IBM by 75.9% in the fourth quarter. Sharkey Howes & Javer now owns 721 shares of the technology company’s stock valued at $82,000 after acquiring an additional 311 shares in the last quarter. Paloma Partners Management Co lifted its position in shares of IBM by 127.4% in the third quarter. Paloma Partners Management Co now owns 1,453 shares of the technology company’s stock valued at $220,000 after acquiring an additional 6,757 shares in the last quarter. Finally, Sonora Investment Management LLC lifted its position in shares of IBM by 166.2% in the fourth quarter. Sonora Investment Management LLC now owns 1,637 shares of the technology company’s stock valued at $186,000 after acquiring an additional 1,022 shares in the last quarter. Institutional investors own 55.58% of the company’s stock.

About IBM

International Business Machines Corporation operates as an integrated technology and services company worldwide. Its Cognitive Solutions segment offers a portfolio of enterprise artificial intelligence platforms, such as analytics and data management platforms, cloud data services, talent management, and industry solutions primarily under the Watson Platform, Watson Health, and Watson Internet of Things names.

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