June 24, 2024

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International Business Machines (NYSE:IBM) Given Outperform Rating at Royal Bank of Canada

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Royal Bank of Canada reiterated their outperform rating on shares of International Business Machines (NYSE:IBM – Free Report) in a report published on Thursday, Benzinga reports. They currently have a $200.00 price objective on the technology company’s stock.

Several other equities research analysts have also recently commented on IBM. Morgan Stanley lowered their price target on International Business Machines from $186.00 to $179.00 and set an equal weight rating for the company in a research note on Friday, April 26th. Evercore ISI upgraded shares of International Business Machines from an in-line rating to an outperform rating and raised their price target for the company from $165.00 to $200.00 in a report on Friday, January 19th. BNP Paribas began coverage on shares of International Business Machines in a report on Thursday, May 2nd. They issued an underperform rating and a $145.00 price objective for the company. JPMorgan Chase & Co. cut their target price on International Business Machines from $190.00 to $185.00 and set a neutral rating on the stock in a report on Thursday, April 25th. Finally, Bank of America increased their price objective on International Business Machines from $200.00 to $220.00 and gave the company a buy rating in a report on Thursday, March 14th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average target price of $181.29.

Get Our Latest Analysis on IBM

International Business Machines Stock Up 0.0 %

NYSE:IBM opened at $169.03 on Thursday. International Business Machines has a 1-year low of $125.01 and a 1-year high of $199.18. The firm has a market capitalization of $155.27 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 4.16 and a beta of 0.74. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32. The business’s fifty day moving average price is $181.36 and its 200 day moving average price is $173.19.

International Business Machines (NYSE:IBM – Get Free Report) last issued its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter last year, the business posted $1.36 EPS. On average, sell-side analysts forecast that International Business Machines will post 9.91 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be paid a $1.67 dividend. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date is Thursday, May 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.95%. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Hedge Funds Weigh In On International Business Machines

Several large investors have recently bought and sold shares of the stock. Desjardins Global Asset Management Inc. lifted its holdings in shares of International Business Machines by 1.4% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 3,940 shares of the technology company’s stock valued at $644,000 after purchasing an additional 54 shares in the last quarter. Arden Trust Co lifted its stake in International Business Machines by 2.8% during the 1st quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock valued at $377,000 after acquiring an additional 54 shares in the last quarter. Calamos Wealth Management LLC grew its stake in shares of International Business Machines by 2.8% in the 4th quarter. Calamos Wealth Management LLC now owns 2,007 shares of the technology company’s stock worth $328,000 after acquiring an additional 55 shares in the last quarter. Avion Wealth raised its holdings in shares of International Business Machines by 6.2% in the fourth quarter. Avion Wealth now owns 964 shares of the technology company’s stock valued at $158,000 after purchasing an additional 56 shares during the last quarter. Finally, Chicago Partners Investment Group LLC lifted its position in shares of International Business Machines by 0.8% during the fourth quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock valued at $1,309,000 after purchasing an additional 58 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Company Profile

(Get Free Report)

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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Analyst Recommendations for International Business Machines (NYSE:IBM)



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