Wedbush Raises International Business Machines (NYSE:IBM) Price Target to $160.00

International Business Machines (NYSE:IBM) had its price objective hoisted by investment analysts at Wedbush from $140.00 to $160.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. Wedbush’s price objective would suggest a potential downside of 13.05% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. Bank of America lifted their price target on shares of International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Royal Bank of Canada boosted their target price on shares of International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Sanford C. Bernstein lifted their price target on International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research report on Thursday, March 7th. Evercore ISI upgraded International Business Machines from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $165.00 to $200.00 in a research report on Friday, January 19th. Finally, Evercore upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $165.00 to $200.00 in a report on Friday, January 19th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, International Business Machines has a consensus rating of “Hold” and a consensus target price of $178.77.

International Business Machines Stock Up 1.0 %

Shares of International Business Machines stock opened at $184.01 on Thursday. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.93 and a current ratio of 0.96. The company has a 50-day simple moving average of $188.36 and a two-hundred day simple moving average of $169.98. International Business Machines has a 52-week low of $120.55 and a 52-week high of $199.18. The stock has a market capitalization of $168.69 billion, a PE ratio of 22.63, a price-to-earnings-growth ratio of 3.58 and a beta of 0.70.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.59 by $0.09. International Business Machines had a return on equity of 39.55% and a net margin of 12.13%. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. During the same quarter in the previous year, the company posted $1.36 earnings per share. International Business Machines’s revenue was up 1.5% compared to the same quarter last year. On average, analysts anticipate that International Business Machines will post 10.04 EPS for the current fiscal year.

Hedge Funds Weigh In On International Business Machines

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in International Business Machines by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 82,076,195 shares of the technology company’s stock worth $11,515,290,000 after buying an additional 365,388 shares in the last quarter. Morgan Stanley increased its holdings in International Business Machines by 13.4% during the 3rd quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock worth $2,280,968,000 after purchasing an additional 1,919,490 shares during the period. Northern Trust Corp grew its position in shares of International Business Machines by 4.2% during the third quarter. Northern Trust Corp now owns 9,970,674 shares of the technology company’s stock worth $1,398,886,000 after buying an additional 404,948 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of International Business Machines by 10.2% during the third quarter. Bank of New York Mellon Corp now owns 8,691,369 shares of the technology company’s stock worth $1,219,399,000 after buying an additional 807,357 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in International Business Machines by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,465,214 shares of the technology company’s stock valued at $1,048,631,000 after acquiring an additional 61,028 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other 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.