International Business Machines (NYSE:IBM) Downgraded by StockNews.com

International Business Machines (NYSE:IBM) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

Other equities analysts have also issued reports about the company. Morgan Stanley cut their price objective on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research note on Thursday. BMO Capital Markets upped their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research note on Thursday. Bank of America increased their price objective on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Stifel Nicolaus upped their price target on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a research report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $208.12.

International Business Machines Price Performance

Shares of IBM opened at $214.67 on Friday. The business has a 50-day simple moving average of $215.58 and a two-hundred day simple moving average of $190.43. International Business Machines has a 12-month low of $141.58 and a 12-month high of $237.37. The stock has a market cap of $197.74 billion, a PE ratio of 23.67, a PEG ratio of 4.84 and a beta of 0.70. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same quarter last year, the business earned $2.20 EPS. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. Analysts anticipate that International Business Machines will post 10.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On International Business Machines

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in International Business Machines by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after acquiring an additional 5,546,855 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in International Business Machines by 20,324.5% during the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after purchasing an additional 2,702,340 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in International Business Machines by 151.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after purchasing an additional 2,118,165 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in International Business Machines by 306.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock valued at $242,441,000 after buying an additional 1,056,759 shares during the last quarter. Finally, Strategic Financial Concepts LLC lifted its position in shares of International Business Machines by 12,282.2% during the 2nd quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock worth $817,000 after buying an additional 468,567 shares in the last quarter. 58.96% of the stock is owned by 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.