IBM (NYSE:IBM) had its price objective decreased by Cantor Fitzgerald from $152.00 to $140.00 in a research report released on Wednesday morning, The Fly reports. Cantor Fitzgerald currently has a neutral rating on the technology company’s stock.
Several other equities research analysts have also recently issued reports on the company. UBS Group set a $180.00 price objective on IBM and gave the stock a buy rating in a report on Wednesday, October 10th. Moffett Nathanson assumed coverage on IBM in a report on Thursday, October 4th. They set a sell rating and a $150.00 price objective on the stock. Zacks Investment Research cut IBM from a hold rating to a sell rating in a report on Wednesday, October 3rd. ValuEngine cut IBM from a hold rating to a sell rating in a report on Thursday, August 2nd. Finally, Wells Fargo & Co assumed coverage on IBM in a report on Monday, July 30th. They set a market perform rating on the stock. Four equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $164.57.
Shares of IBM stock traded down $2.61 during mid-day trading on Wednesday, hitting $131.44. 400,764 shares of the company’s stock were exchanged, compared to its average volume of 4,940,629. IBM has a fifty-two week low of $133.42 and a fifty-two week high of $171.13. The company has a quick ratio of 1.27, a current ratio of 1.32 and a debt-to-equity ratio of 2.03. The stock has a market capitalization of $138.02 billion, a price-to-earnings ratio of 9.58, a price-to-earnings-growth ratio of 2.20 and a beta of 0.87.
IBM (NYSE:IBM) last posted its quarterly earnings data on Tuesday, October 16th. The technology company reported $3.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.40 by $0.02. IBM had a return on equity of 69.84% and a net margin of 7.13%. The business had revenue of $18.76 billion for the quarter, compared to analysts’ expectations of $19.04 billion. During the same quarter last year, the firm earned $3.30 earnings per share. The business’s revenue was down 2.1% on a year-over-year basis. As a group, analysts anticipate that IBM will post 13.82 earnings per share for the current fiscal year.
In related news, insider Diane J. Gherson sold 11,451 shares of IBM stock in a transaction on Friday, August 3rd. The stock was sold at an average price of $145.42, for a total value of $1,665,204.42. Following the transaction, the insider now owns 19,114 shares in the company, valued at $2,779,557.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the business. Berkshire Asset Management LLC PA increased its position in shares of IBM by 2.4% during the third quarter. Berkshire Asset Management LLC PA now owns 20,690 shares of the technology company’s stock worth $3,129,000 after acquiring an additional 481 shares during the last quarter. Grassi Investment Management increased its position in shares of IBM by 2.0% during the second quarter. Grassi Investment Management now owns 49,795 shares of the technology company’s stock worth $6,956,000 after acquiring an additional 965 shares during the last quarter. Viking Fund Management LLC increased its position in shares of IBM by 3.8% during the third quarter. Viking Fund Management LLC now owns 27,000 shares of the technology company’s stock worth $4,083,000 after acquiring an additional 1,000 shares during the last quarter. Coastline Trust Co increased its position in shares of IBM by 14.7% during the second quarter. Coastline Trust Co now owns 19,353 shares of the technology company’s stock worth $2,704,000 after acquiring an additional 2,475 shares during the last quarter. Finally, Argus Investors Counsel Inc. increased its position in shares of IBM by 18.8% during the second quarter. Argus Investors Counsel Inc. now owns 27,425 shares of the technology company’s stock worth $3,831,000 after acquiring an additional 4,349 shares during the last quarter. 55.39% of the stock is currently owned by institutional investors.
IBM Company Profile
International Business Machines Corporation operates as an integrated technology and services company worldwide. Its Cognitive Solutions segment offers Watson, a cognitive computing platform that interacts in natural language, processes big data, and learns from interactions with people and computers.
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