BMO Capital Markets Raises International Business Machines (NYSE:IBM) Price Target to $260.00

International Business Machines (NYSE:IBM) had its price objective raised by BMO Capital Markets from $235.00 to $260.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a market perform rating on the technology company’s stock.

Other equities analysts have also issued reports about the company. Stifel Nicolaus upped their target price on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Evercore ISI raised their target price on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Bank of America boosted their price target on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Royal Bank of Canada lifted their price objective on shares of International Business Machines from $211.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Finally, Morgan Stanley increased their target price on shares of International Business Machines from $182.00 to $217.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, International Business Machines currently has an average rating of “Hold” and an average target price of $208.12.

International Business Machines Price Performance

Shares of NYSE IBM opened at $214.67 on Thursday. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The firm’s 50-day moving average price is $215.58 and its 200-day moving average price is $190.43. The firm has a market capitalization of $197.74 billion, a P/E ratio of 23.67, a P/E/G ratio of 4.84 and a beta of 0.70. International Business Machines has a 1-year low of $141.58 and a 1-year high of $237.37.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The company had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same period in the prior year, the firm earned $2.20 earnings per share. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities research analysts anticipate that International Business Machines will post 10.13 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a dividend of $1.67 per share. The ex-dividend date was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.11%. International Business Machines’s dividend payout ratio (DPR) is currently 73.65%.

Institutional Investors Weigh In On International Business Machines

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of International Business Machines by 6.7% in the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after purchasing an additional 5,546,855 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of International Business Machines by 20,324.5% in the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after buying an additional 2,702,340 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of International Business Machines by 151.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after acquiring an additional 2,118,165 shares during the last quarter. Thrivent Financial for Lutherans grew its position in International Business Machines by 306.3% in the second quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock worth $242,441,000 after acquiring an additional 1,056,759 shares in the last quarter. Finally, Strategic Financial Concepts LLC raised its position in International Business Machines by 12,282.2% during the second quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock valued at $817,000 after purchasing an additional 468,567 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

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.