International Business Machines (NYSE:IBM) Given New $208.00 Price Target at Morgan Stanley

by · The Cerbat Gem

International Business Machines (NYSE:IBM – Free Report) had its target price lowered by Morgan Stanley from $217.00 to $208.00 in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has an equal weight rating on the technology company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Bank of America raised their target price on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a research note on Wednesday, October 2nd. Stifel Nicolaus boosted their target price 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, Evercore ISI increased their price target on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $208.12.

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International Business Machines Stock Performance

Shares of International Business Machines stock opened at $214.67 on Thursday. The stock has a market cap of $197.74 billion, a price-to-earnings ratio of 23.67, a PEG ratio of 4.84 and a beta of 0.70. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. International Business Machines has a 1 year low of $141.58 and a 1 year high of $237.37. The firm’s 50-day moving average is $215.58 and its 200 day moving average is $190.46.

International Business Machines (NYSE:IBM – Get Free Report) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.27 by $0.03. The business had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The company’s revenue was up 1.5% compared to the same quarter last year. During the same period last year, the business posted $2.20 EPS. Sell-side analysts anticipate that International Business Machines will post 10.13 EPS for the current fiscal year.

Institutional Investors Weigh In On International Business Machines

Large investors have recently made changes to their positions in the company. Ellenbecker Investment Group raised its holdings in shares of International Business Machines by 2.3% during the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock worth $453,000 after acquiring an additional 46 shares in the last quarter. Goldstein Advisors LLC lifted its position in International Business Machines by 4.0% during the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock valued at $269,000 after purchasing an additional 47 shares during the last quarter. Carret Asset Management LLC grew its stake in shares of International Business Machines by 0.3% in the 3rd quarter. Carret Asset Management LLC now owns 19,400 shares of the technology company’s stock worth $4,289,000 after buying an additional 51 shares in the last quarter. McAdam LLC lifted its holdings in shares of International Business Machines by 1.5% in the 3rd quarter. McAdam LLC now owns 3,570 shares of the technology company’s stock valued at $789,000 after acquiring an additional 52 shares during the last quarter. Finally, Castleview Partners LLC grew its position in International Business Machines by 3.7% in the third quarter. Castleview Partners LLC now owns 1,522 shares of the technology company’s stock worth $336,000 after acquiring an additional 55 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

International Business Machines Company Profile

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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.

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