IBM (NYSE:IBM) Price Target Raised to $175.00 at Nomura

IBM (NYSE:IBM) had its price objective increased by Nomura from $165.00 to $175.00 in a research report report published on Monday morning, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other equities analysts also recently issued reports on the company. Zacks Investment Research raised IBM from a sell rating to a hold rating in a research note on Monday, April 22nd. BMO Capital Markets increased their target price on IBM from $147.00 to $155.00 and gave the stock a market perform rating in a research note on Wednesday, April 17th. They noted that the move was a valuation call. JPMorgan Chase & Co. began coverage on IBM in a research note on Thursday, July 18th. They set a neutral rating and a $147.00 target price for the company. ValuEngine raised IBM from a sell rating to a hold rating in a research note on Wednesday, May 1st. Finally, Tigress Financial reissued a hold rating on shares of IBM in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company. IBM presently has an average rating of Hold and an average target price of $155.00.

Shares of IBM stock opened at $141.83 on Monday. The stock has a market cap of $130.45 billion, a P/E ratio of 10.27, a price-to-earnings-growth ratio of 2.54 and a beta of 1.28. The stock’s 50 day simple moving average is $143.51. IBM has a 12-month low of $105.94 and a 12-month high of $154.36. The company has a current ratio of 1.83, a quick ratio of 1.79 and a debt-to-equity ratio of 3.51.

IBM (NYSE:IBM) last issued its earnings results on Wednesday, July 17th. The technology company reported $3.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.06 by $0.11. The business had revenue of $19.20 billion during the quarter, compared to the consensus estimate of $19.20 billion. IBM had a return on equity of 69.56% and a net margin of 11.22%. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.08 EPS. Analysts expect that IBM will post 13.76 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.57%. The ex-dividend date is Thursday, August 8th. IBM’s payout ratio is 46.92%.

In other news, SVP Kenneth M. Keverian sold 2,690 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $135.50, for a total transaction of $364,495.00. Following the sale, the senior vice president now owns 34,665 shares in the company, valued at $4,697,107.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kenneth M. Keverian sold 2,227 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $135.15, for a total value of $300,979.05. Following the sale, the senior vice president now owns 32,878 shares in the company, valued at approximately $4,443,461.70. The disclosure for this sale can be found here. Insiders have sold 7,000 shares of company stock valued at $940,430 in the last three months. 0.19% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the company. BB&T Corp boosted its holdings in shares of IBM by 1.8% during the first quarter. BB&T Corp now owns 51,779 shares of the technology company’s stock worth $7,306,000 after purchasing an additional 901 shares during the last quarter. Adell Harriman & Carpenter Inc. acquired a new stake in shares of IBM during the first quarter worth $207,000. Greenleaf Trust boosted its holdings in shares of IBM by 12.4% during the first quarter. Greenleaf Trust now owns 8,057 shares of the technology company’s stock worth $1,137,000 after purchasing an additional 891 shares during the last quarter. Wesbanco Bank Inc. boosted its holdings in shares of IBM by 2.2% during the first quarter. Wesbanco Bank Inc. now owns 115,867 shares of the technology company’s stock worth $16,349,000 after purchasing an additional 2,522 shares during the last quarter. Finally, Swedbank boosted its holdings in shares of IBM by 21.1% during the first quarter. Swedbank now owns 1,404,199 shares of the technology company’s stock worth $198,132,000 after purchasing an additional 244,949 shares during the last quarter. Institutional investors and hedge funds own 55.22% of the company’s stock.

IBM Company Profile

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.

Further Reading: Certificate of Deposit (CD)

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