The Goldman Sachs Group Boosts International Business Machines (NYSE:IBM) Price Target to $250.00

by · The Cerbat Gem

International Business Machines (NYSE:IBM – Free Report) had its price target raised by The Goldman Sachs Group from $220.00 to $250.00 in a report published on Monday, Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

IBM has been the subject of a number of other reports. BMO Capital Markets boosted their price target on International Business Machines from $190.00 to $210.00 and gave the company a market perform rating in a report on Thursday, July 25th. Evercore ISI boosted their target price on shares of International Business Machines from $215.00 to $240.00 and gave the company an outperform rating in a research note on Wednesday, September 11th. Jefferies Financial Group raised their price target on shares of International Business Machines from $190.00 to $200.00 and gave the company a hold rating in a research report on Thursday, July 25th. UBS Group increased their target price on shares of International Business Machines from $130.00 to $145.00 and gave the stock a sell rating in a research note on Wednesday, September 4th. Finally, Stifel Nicolaus lifted their price target on International Business Machines from $190.00 to $205.00 and gave the company a buy rating in a research note on Thursday, July 25th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus price target of $194.35.

Check Out Our Latest Report on International Business Machines

International Business Machines Stock Up 1.4 %

IBM stock opened at $222.70 on Monday. The company has a market capitalization of $204.57 billion, a P/E ratio of 25.22, a price-to-earnings-growth ratio of 4.90 and a beta of 0.70. International Business Machines has a 12 month low of $135.87 and a 12 month high of $224.15. The firm’s fifty day simple moving average is $202.93 and its 200-day simple moving average is $186.04. 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 (NYSE:IBM – Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, beating the consensus estimate of $2.16 by $0.27. The company had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.18 earnings per share. As a group, equities research analysts forecast that International Business Machines will post 10.1 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a dividend of $1.67 per share. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 3.00%. International Business Machines’s dividend payout ratio is presently 75.65%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of IBM. Vanguard Group Inc. lifted its position in International Business Machines by 6.7% during the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after buying an additional 5,546,855 shares in the last quarter. Legal & General Group Plc boosted its position in shares of International Business Machines by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock valued at $1,467,974,000 after acquiring an additional 330,694 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of International Business Machines by 6.4% in the second quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after purchasing an additional 444,698 shares during the period. Dimensional Fund Advisors LP increased its position in International Business Machines by 6.8% during the second quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock worth $829,431,000 after purchasing an additional 304,390 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in International Business Machines by 151.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after purchasing an additional 2,118,165 shares during the period. 58.96% of the stock is owned by hedge funds and other 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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