Wedbush Reaffirms “Neutral” Rating for IBM (NYSE:IBM)

IBM (NYSE:IBM)‘s stock had its “neutral” rating reissued by investment analysts at Wedbush in a research note issued to investors on Thursday, The Fly reports. They presently have a $155.00 target price on the technology company’s stock, down from their previous target price of $165.00. Wedbush’s price objective would suggest a potential upside of 9.07% from the company’s current price.

IBM has been the subject of a number of other reports. ValuEngine raised shares of IBM from a “sell” rating to a “hold” rating in a report on Wednesday, September 4th. Tigress Financial reissued a “hold” rating on shares of IBM in a report on Friday, July 26th. Bank of America upped their price target on shares of IBM from $165.00 to $170.00 and gave the company a “buy” rating in a report on Monday, August 5th. Credit Suisse Group reissued a “buy” rating and issued a $173.00 price target on shares of IBM in a report on Friday, July 19th. Finally, Wells Fargo & Co upped their price target on shares of IBM from $140.00 to $147.00 and gave the company a “market perform” rating in a report on Tuesday, August 6th. Thirteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $156.94.

Shares of NYSE IBM opened at $142.11 on Thursday. IBM has a twelve month low of $105.94 and a twelve month high of $152.95. The company has a current ratio of 1.83, a quick ratio of 1.79 and a debt-to-equity ratio of 3.51. The company has a market capitalization of $125.83 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 2.22 and a beta of 1.33. The firm has a 50-day moving average of $140.94 and a two-hundred day moving average of $139.42.

IBM (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 16th. The technology company reported $2.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.67 by $0.01. IBM had a net margin of 11.22% and a return on equity of 69.56%. The company had revenue of $18.03 billion during the quarter, compared to the consensus estimate of $18.29 billion. During the same period in the prior year, the company earned $3.42 EPS. IBM’s revenue was down 3.9% on a year-over-year basis. As a group, research analysts predict that IBM will post 12.8 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Amundi Pioneer Asset Management Inc. raised its holdings in IBM by 1.1% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 2,500,954 shares of the technology company’s stock worth $352,883,000 after buying an additional 27,813 shares during the period. Swedbank raised its holdings in IBM by 10.7% during the 2nd quarter. Swedbank now owns 1,554,671 shares of the technology company’s stock worth $214,389,000 after buying an additional 150,472 shares during the period. Fort Washington Investment Advisors Inc. OH raised its holdings in IBM by 0.7% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 522,989 shares of the technology company’s stock worth $72,120,000 after buying an additional 3,604 shares during the period. Comerica Bank raised its holdings in IBM by 1.0% during the 2nd quarter. Comerica Bank now owns 292,981 shares of the technology company’s stock worth $41,917,000 after buying an additional 2,885 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in IBM by 15.0% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 217,102 shares of the technology company’s stock worth $29,938,000 after buying an additional 28,256 shares during the period. Hedge funds and other institutional investors own 55.41% of the company’s stock.

About IBM

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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