International Business Machines Corporation (IBM) Earns Overweight Rating from Morgan Stanley

International Business Machines Corporation (NYSE:IBM)‘s stock had its “overweight” rating reiterated by Morgan Stanley in a report released on Saturday, July 22nd. They presently have a $192.00 price objective on the technology company’s stock, down from their prior price objective of $212.00. Morgan Stanley’s price objective suggests a potential upside of 35.36% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $168.00 target price (down previously from $170.00) on shares of International Business Machines Corporation in a report on Saturday, July 22nd. Argus reaffirmed a “buy” rating and set a $175.00 price target (down previously from $192.00) on shares of International Business Machines Corporation in a report on Friday, July 21st. Stifel Nicolaus reaffirmed a “buy” rating and set a $182.00 price target on shares of International Business Machines Corporation in a report on Friday, July 21st. Berenberg Bank reissued a “sell” rating and set a $125.00 target price on shares of International Business Machines Corporation in a report on Friday, July 21st. Finally, BMO Capital Markets restated a “hold” rating and issued a $167.00 price target (up previously from $165.00) on shares of International Business Machines Corporation in a research report on Friday, July 21st. Seven analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have given a buy rating to the company’s stock. International Business Machines Corporation has a consensus rating of “Hold” and an average target price of $157.40.

Shares of International Business Machines Corporation (NYSE IBM) opened at 141.84 on Friday. The company has a market capitalization of $132.19 billion, a P/E ratio of 11.77 and a beta of 0.97. International Business Machines Corporation has a 1-year low of $141.19 and a 1-year high of $182.79. The firm’s 50 day moving average price is $149.20 and its 200-day moving average price is $162.50.

International Business Machines Corporation (NYSE:IBM) last posted its quarterly earnings results on Tuesday, July 18th. The technology company reported $2.97 EPS for the quarter, topping the Zacks’ consensus estimate of $2.74 by $0.23. The business had revenue of $19.29 billion during the quarter, compared to the consensus estimate of $19.45 billion. International Business Machines Corporation had a return on equity of 71.53% and a net margin of 14.58%. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period last year, the firm earned $2.95 earnings per share. Analysts expect that International Business Machines Corporation will post $13.74 EPS for the current year.

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In other International Business Machines Corporation news, Director James W. Owens bought 1,718 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The stock was acquired at an average price of $153.19 per share, with a total value of $263,180.42. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.23% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IBM. Norges Bank purchased a new stake in shares of International Business Machines Corporation during the fourth quarter worth approximately $1,366,710,000. Vanguard Group Inc. boosted its stake in shares of International Business Machines Corporation by 3.7% in the second quarter. Vanguard Group Inc. now owns 62,228,040 shares of the technology company’s stock worth $9,572,538,000 after buying an additional 2,241,818 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of International Business Machines Corporation by 151.2% in the second quarter. Nordea Investment Management AB now owns 3,250,047 shares of the technology company’s stock worth $499,955,000 after buying an additional 1,956,033 shares in the last quarter. BlackRock Inc. boosted its stake in shares of International Business Machines Corporation by 2.4% in the second quarter. BlackRock Inc. now owns 52,936,360 shares of the technology company’s stock worth $8,143,204,000 after buying an additional 1,241,441 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of International Business Machines Corporation by 34.4% in the second quarter. Renaissance Technologies LLC now owns 2,720,300 shares of the technology company’s stock worth $418,464,000 after buying an additional 696,600 shares in the last quarter. 58.73% of the stock is owned by institutional investors and hedge funds.

International Business Machines Corporation Company Profile

International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.

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