International Business Machines (NYSE:IBM) Upgraded by Wall Street Zen to “Buy” Rating

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

Other equities research analysts also recently issued research reports about the stock. Stifel Nicolaus boosted their price objective on shares of International Business Machines from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. Melius Research raised shares of International Business Machines to a “strong-buy” rating in a report on Monday, July 7th. JPMorgan Chase & Co. upped their target price on shares of International Business Machines from $244.00 to $290.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the stock a “hold” rating in a report on Thursday, April 24th. Finally, Bank of America dropped their target price on shares of International Business Machines from $320.00 to $310.00 and set a “buy” rating for the company in a report on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $268.75.

International Business Machines Trading Up 1.3%

NYSE:IBM opened at $263.19 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00. International Business Machines has a 12 month low of $181.81 and a 12 month high of $296.16. The company has a market cap of $244.61 billion, a PE ratio of 42.73, a price-to-earnings-growth ratio of 4.01 and a beta of 0.69. The company has a 50 day simple moving average of $277.59 and a two-hundred day simple moving average of $256.57.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $2.65 by $0.15. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The business had revenue of $16.98 billion during the quarter, compared to the consensus estimate of $16.58 billion. During the same quarter in the previous year, the firm posted $2.43 EPS. The firm’s revenue was up 7.7% on a year-over-year basis. Research analysts forecast that International Business Machines will post 10.78 earnings per share for the current year.

Institutional Trading of International Business Machines

Hedge funds have recently made changes to their positions in the business. Family CFO Inc purchased a new stake in shares of International Business Machines during the 2nd quarter valued at about $25,000. Christopher J. Hasenberg Inc purchased a new stake in shares of International Business Machines during the 1st quarter valued at about $27,000. SSA Swiss Advisors AG purchased a new stake in shares of International Business Machines during the 1st quarter valued at about $28,000. Highline Wealth Partners LLC raised its position in shares of International Business Machines by 85.0% during the 2nd quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company’s stock valued at $33,000 after buying an additional 51 shares in the last quarter. Finally, Dagco Inc. purchased a new stake in shares of International Business Machines during the 1st quarter valued at about $31,000. 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.