JPMorgan Chase & Co. initiated coverage on shares of IBM (NYSE:IBM) in a research note issued to investors on Thursday, BenzingaRatingsTable reports. The brokerage issued a neutral rating and a $147.00 target price on the technology company’s stock.
A number of other research analysts also recently commented on the stock. Credit Suisse Group upped their price objective on shares of Delta Air Lines from $37.00 to $68.00 and gave the company an outperform rating in a research note on Thursday, April 11th. UBS Group set a $160.00 price objective on shares of IBM and gave the company a buy rating in a research note on Wednesday, April 17th. Zacks Investment Research downgraded shares of HANNOVER RUECK/S from a hold rating to a sell rating in a research note on Monday, April 22nd. BMO Capital Markets initiated coverage on shares of Yelp in a research note on Wednesday, April 17th. They set an outperform rating for the company. Finally, Citigroup dropped their price objective on shares of UnitedHealth Group from $288.00 to $247.00 and set a neutral rating for the company in a research note on Wednesday, April 17th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $155.65.
Shares of IBM stock opened at $149.68 on Thursday. The company has a 50-day moving average price of $137.84. IBM has a twelve month low of $105.94 and a twelve month high of $154.36. The firm has a market cap of $132.71 billion, a P/E ratio of 10.92, a price-to-earnings-growth ratio of 2.55 and a beta of 1.25. The company has a quick ratio of 1.79, a current ratio of 1.83 and a debt-to-equity ratio of 3.51.
IBM (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 17th. The technology company reported $3.17 EPS for the quarter, beating the Zacks’ consensus estimate of $3.06 by $0.11. IBM had a net margin of 11.22% and a return on equity of 69.56%. The company had revenue of $19.20 billion during the quarter, compared to the consensus estimate of $19.20 billion. During the same quarter in the prior year, the company posted $3.08 EPS. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. On average, sell-side analysts predict that IBM will post 13.89 EPS for the current year.
In related news, SVP Kenneth M. Keverian sold 2,690 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $135.50, for a total transaction of $364,495.00. Following the completion of the sale, the senior vice president now owns 34,665 shares of the company’s stock, valued at approximately $4,697,107.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Kenneth M. Keverian sold 2,227 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $135.15, for a total transaction of $300,979.05. Following the sale, the senior vice president now directly owns 32,878 shares of the company’s stock, valued at approximately $4,443,461.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,000 shares of company stock valued at $940,430. Corporate insiders own 0.19% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of IBM. Nalls Sherbakoff Group LLC acquired a new stake in IBM during the 4th quarter worth approximately $34,000. Sycomore Asset Management acquired a new stake in IBM during the 4th quarter worth approximately $81,000. Adell Harriman & Carpenter Inc. acquired a new stake in IBM during the 1st quarter worth approximately $207,000. Peoples Bank OH acquired a new stake in IBM during the 1st quarter worth approximately $226,000. Finally, Sonora Investment Management LLC increased its position in IBM by 11.5% during the 2nd quarter. Sonora Investment Management LLC now owns 1,802 shares of the technology company’s stock worth $248,000 after purchasing an additional 186 shares in the last quarter. 55.18% of the stock is owned by hedge funds and other institutional investors.
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.
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