International Business Machines (NYSE:IBM) Upgraded to “Overweight” by Morgan Stanley
3 min readInternational Business Machines (NYSE:IBM – Get Rating) was upgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report issued on Wednesday, The Fly reports.
Several other research firms also recently weighed in on IBM. BMO Capital Markets decreased their target price on International Business Machines from $155.00 to $148.00 and set a “market perform” rating for the company in a research report on Wednesday. StockNews.com started coverage on International Business Machines in a research report on Thursday, March 31st. They set a “buy” rating for the company. Zacks Investment Research downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $140.00 target price for the company. in a research report on Tuesday, April 5th. Stifel Nicolaus decreased their price objective on International Business Machines from $151.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, December 15th. Finally, The Goldman Sachs Group assumed coverage on International Business Machines in a report on Sunday, January 9th. They issued a “neutral” rating and a $140.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, International Business Machines has a consensus rating of “Hold” and an average price target of $146.55.
NYSE IBM traded up $0.16 on Wednesday, hitting $126.14. 2,972,851 shares of the stock were exchanged, compared to its average volume of 5,238,022. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.83 and a current ratio of 0.88. The stock has a fifty day moving average price of $128.08 and a two-hundred day moving average price of $129.16. The firm has a market capitalization of $113.44 billion, a P/E ratio of 19.86, a P/E/G ratio of 1.18 and a beta of 1.10. International Business Machines has a 52-week low of $114.56 and a 52-week high of $152.84.
International Business Machines (NYSE:IBM – Get Rating) last released its earnings results on Monday, January 24th. The technology company reported $3.35 earnings per share for the quarter, missing the consensus estimate of $3.39 by ($0.04). International Business Machines had a return on equity of 42.49% and a net margin of 8.11%. The business had revenue of $16.70 billion for the quarter, compared to the consensus estimate of $15.96 billion. During the same quarter last year, the business posted $2.07 earnings per share. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. Sell-side analysts expect that International Business Machines will post 10.09 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of International Business Machines by 1.4% during the fourth quarter. BlackRock Inc. now owns 65,452,374 shares of the technology company’s stock worth $8,748,364,000 after acquiring an additional 924,180 shares during the last quarter. State Street Corp grew its stake in shares of International Business Machines by 3.3% during the fourth quarter. State Street Corp now owns 53,048,681 shares of the technology company’s stock worth $7,090,487,000 after acquiring an additional 1,687,122 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of International Business Machines by 6.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,192,375 shares of the technology company’s stock worth $2,030,611,000 after acquiring an additional 951,417 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of International Business Machines by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 15,018,006 shares of the technology company’s stock worth $2,001,895,000 after acquiring an additional 261,118 shares during the last quarter. Finally, Norges Bank purchased a new stake in International Business Machines in the fourth quarter valued at approximately $1,025,028,000. Institutional investors and hedge funds own 54.91% of the company’s stock.
International Business Machines Company Profile (Get Rating)
International Business Machines Corporation provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions, such as Red Hat, an enterprise open-source solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.
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