International Business Machines Corporation (NYSE:IBM) Rating Reiterated by Royal Bank Of Canada

International Business Machines Corporation (NYSE:IBM)‘s stock had its “hold” rating restated by equities researchers at Royal Bank Of Canada in a report issued on Wednesday, July 12th. They currently have a $165.00 target price on the technology company’s stock. Royal Bank Of Canada’s target price points to a potential upside of 16.33% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Jefferies Group LLC set a $135.00 price objective on shares of International Business Machines Corporation and gave the company a “sell” rating in a research report on Friday, May 19th. Drexel Hamilton reaffirmed a “buy” rating and set a $200.00 target price (down previously from $215.00) on shares of International Business Machines Corporation in a report on Saturday, April 22nd. Bank of America Corporation reaffirmed a “buy” rating and set a $180.00 target price (down previously from $185.00) on shares of International Business Machines Corporation in a report on Wednesday, April 19th. Argus reaffirmed a “buy” rating and set a $192.00 target price (up previously from $185.00) on shares of International Business Machines Corporation in a report on Wednesday, March 22nd. Finally, TheStreet downgraded shares of International Business Machines Corporation to a “hold” rating in a report on Friday, April 21st. Seven equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have given a buy rating to the company’s stock. International Business Machines Corporation currently has a consensus rating of “Hold” and a consensus target price of $157.40.

Shares of International Business Machines Corporation (NYSE IBM) opened at 141.84 on Wednesday. The company has a market capitalization of $132.19 billion, a PE ratio of 11.77 and a beta of 0.97. International Business Machines Corporation has a one year low of $141.19 and a one year high of $182.79. The company has a 50-day moving average of $149.20 and a 200-day moving average of $162.50.

International Business Machines Corporation (NYSE:IBM) last released its earnings results on Tuesday, July 18th. The technology company reported $2.97 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 14.58% and a return on equity of 71.53%. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.95 earnings per share. On average, analysts anticipate that International Business Machines Corporation will post $13.74 earnings per share for the current year.

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In related news, Director James W. Owens purchased 1,718 shares of International Business Machines Corporation stock in a transaction that occurred on Tuesday, May 16th. The stock was bought at an average price of $153.19 per share, for a total transaction of $263,180.42. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.23% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the company. Hemenway Trust Co LLC purchased a new stake in shares of International Business Machines Corporation during the fourth quarter worth about $110,000. Pinnacle Associates Ltd. increased its position in International Business Machines Corporation by 1.1% in the fourth quarter. Pinnacle Associates Ltd. now owns 69,931 shares of the technology company’s stock valued at $11,608,000 after buying an additional 770 shares during the period. LBA Wealth Management LLC increased its position in International Business Machines Corporation by 3.4% in the fourth quarter. LBA Wealth Management LLC now owns 4,115 shares of the technology company’s stock valued at $683,000 after buying an additional 137 shares during the period. SSI Investment Management Inc. acquired a new position in International Business Machines Corporation during the fourth quarter valued at approximately $208,000. Finally, Altavista Wealth Management Inc. boosted its position in shares of International Business Machines Corporation by 34.6% in the fourth quarter. Altavista Wealth Management Inc. now owns 1,944 shares of the technology company’s stock valued at $323,000 after buying an additional 500 shares in the last quarter. 58.73% of the stock is currently owned by hedge funds and other institutional investors.

About International Business Machines Corporation

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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