Royal Bank Of Canada Cuts International Business Machines (NYSE:IBM) Price Target to $300.00

International Business Machines (NYSE:IBM) had its price objective lowered by Royal Bank Of Canada from $315.00 to $300.00 in a research report sent to investors on Thursday morning, MarketBeat.com reports. The brokerage currently has an outperform rating on the technology company’s stock.

A number of other analysts also recently issued reports on IBM. Melius Research raised International Business Machines to a “strong-buy” rating in a research report on Monday, July 7th. Wall Street Zen lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Weiss Ratings reissued a “hold (c+)” rating on shares of International Business Machines in a research report on Wednesday, October 8th. BMO Capital Markets increased their price target on shares of International Business Machines from $300.00 to $305.00 and gave the company a “market perform” rating in a research note on Thursday. Finally, UBS Group increased their target price on shares of International Business Machines from $200.00 to $210.00 and gave the company a “sell” rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, International Business Machines has a consensus rating of “Moderate Buy” and an average price target of $288.00.

International Business Machines Stock Performance

NYSE IBM opened at $307.78 on Thursday. The stock has a market capitalization of $286.05 billion, a price-to-earnings ratio of 36.82, a PEG ratio of 4.69 and a beta of 0.73. The stock has a 50-day moving average of $266.21 and a 200 day moving average of $263.87. The company has a current ratio of 0.93, a quick ratio of 0.87 and a debt-to-equity ratio of 1.97. International Business Machines has a twelve month low of $203.51 and a twelve month high of $310.75.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 22nd. The technology company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.20. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.The business had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.10 billion. During the same period in the previous year, the business earned $2.30 earnings per share. The business’s revenue was up 9.1% compared to the same quarter last year. International Business Machines has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that International Business Machines will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th will be paid a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, November 10th. International Business Machines’s dividend payout ratio (DPR) is currently 80.38%.

Hedge Funds Weigh In On International Business Machines

Several institutional investors and hedge funds have recently modified their holdings of the company. Family CFO Inc acquired a new position in International Business Machines in the 2nd quarter valued at $25,000. Winnow Wealth LLC purchased a new stake in shares of International Business Machines in the second quarter valued at $27,000. Christopher J. Hasenberg Inc acquired a new position in International Business Machines in the first quarter valued at $27,000. SSA Swiss Advisors AG purchased a new position in International Business Machines during the first quarter worth about $28,000. Finally, Highline Wealth Partners LLC boosted its stake in International Business Machines by 85.0% in the 2nd quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company’s stock worth $33,000 after buying an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

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.