IBM (NYSE:IBM) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of IBM (NYSE:IBM) from a strong sell rating to a sell rating in a research report report published on Tuesday, ValuEngine reports.

Several other analysts have also recently commented on the company. KeyCorp restated a hold rating on shares of IBM in a report on Monday, August 26th. Wedbush reissued a neutral rating and issued a $155.00 target price (down from $165.00) on shares of IBM in a research report on Thursday, October 17th. Stifel Nicolaus set a $169.00 target price on shares of IBM and gave the stock a buy rating in a research report on Tuesday, October 15th. Nomura lowered their target price on shares of IBM from $175.00 to $170.00 and set a buy rating for the company in a report on Thursday, October 17th. Finally, Bank of America upped their price target on shares of IBM from $165.00 to $170.00 and gave the stock a buy rating in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $154.33.

IBM traded up $1.31 during trading on Tuesday, hitting $133.22. The company’s stock had a trading volume of 3,368,324 shares, compared to its average volume of 3,788,100. The firm’s 50 day moving average price is $134.69 and its 200-day moving average price is $138.11. The company has a debt-to-equity ratio of 3.40, a current ratio of 1.09 and a quick ratio of 1.04. The stock has a market cap of $117.98 billion, a PE ratio of 9.65, a PEG ratio of 2.10 and a beta of 1.34. IBM has a twelve month low of $105.94 and a twelve month high of $152.95.

IBM (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 16th. The technology company reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $0.01. The business had revenue of $18.03 billion for the quarter, compared to analysts’ expectations of $18.29 billion. IBM had a return on equity of 67.12% and a net margin of 10.00%. The business’s revenue was down 3.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.42 earnings per share. Equities analysts anticipate that IBM will post 12.8 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be issued a $1.62 dividend. The ex-dividend date is Thursday, November 7th. This represents a $6.48 annualized dividend and a yield of 4.86%. IBM’s payout ratio is 46.92%.

Hedge funds have recently made changes to their positions in the business. Next Capital Management LLC increased its position in shares of IBM by 50.0% in the second quarter. Next Capital Management LLC now owns 213 shares of the technology company’s stock worth $29,000 after acquiring an additional 71 shares in the last quarter. Bridger Capital Management LLC acquired a new stake in IBM in the 3rd quarter valued at $60,000. Motco increased its holdings in IBM by 15.6% in the 2nd quarter. Motco now owns 1,665 shares of the technology company’s stock valued at $230,000 after purchasing an additional 225 shares in the last quarter. Hollencrest Capital Management acquired a new stake in IBM in the 3rd quarter valued at $249,000. Finally, Acorn Wealth Advisors LLC raised its position in IBM by 5.7% in the third quarter. Acorn Wealth Advisors LLC now owns 1,924 shares of the technology company’s stock valued at $259,000 after purchasing an additional 104 shares during the period. 55.92% of the stock is currently owned by hedge funds and other institutional investors.

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.

See Also: Buy-Side Analysts

To view ValuEngine’s full report, visit ValuEngine’s official website.

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