International Business Machines Corporation (IBM) Given “Overweight” Rating at Morgan Stanley

International Business Machines Corporation (NYSE:IBM)‘s stock had its “overweight” rating restated by Morgan Stanley in a note issued to investors on Saturday, July 22nd. They presently have a $192.00 target price on the technology company’s stock, down from their prior target price of $212.00. Morgan Stanley’s price target indicates a potential upside of 37.44% from the company’s previous close.

A number of other analysts also recently weighed in on IBM. Berenberg Bank initiated coverage on International Business Machines Corporation in a research report on Tuesday, April 4th. They issued a “sell” rating and a $140.00 target price for the company. Vetr downgraded International Business Machines Corporation from a “buy” rating to a “hold” rating and set a $170.05 target price for the company. in a research report on Tuesday, April 4th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $150.00 price objective on shares of International Business Machines Corporation in a research report on Tuesday, April 11th. Cantor Fitzgerald reiterated a “hold” rating and issued a $166.00 price objective on shares of International Business Machines Corporation in a research report on Thursday, April 13th. Finally, Jefferies Group LLC reiterated a “sell” rating and issued a $135.00 price objective (down previously from $145.00) on shares of International Business Machines Corporation in a research report on Wednesday, April 19th. Seven research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $157.40.

International Business Machines Corporation (NYSE:IBM) traded down 0.71% on Friday, hitting $139.70. 4,152,714 shares of the stock were exchanged. The company has a 50-day moving average price of $147.30 and a 200-day moving average price of $161.22. The firm has a market cap of $130.19 billion, a PE ratio of 11.59 and a beta of 0.97. International Business Machines Corporation has a 52-week low of $139.58 and a 52-week high of $182.79.

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, topping the Zacks’ consensus estimate of $2.74 by $0.23. The company 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%. International Business Machines Corporation’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.95 EPS. On average, equities research analysts anticipate that International Business Machines Corporation will post $13.77 EPS for the current fiscal year.

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Several institutional investors have recently made changes to their positions in IBM. Vanguard Group Inc. boosted its position 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 during the period. BlackRock Inc. raised 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. State Street Corp raised its stake in shares of International Business Machines Corporation by 0.4% in the first quarter. State Street Corp now owns 51,198,962 shares of the technology company’s stock worth $8,915,788,000 after buying an additional 181,993 shares in the last quarter. Norges Bank purchased a new stake in shares of International Business Machines Corporation during the fourth quarter worth $1,366,710,000. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of International Business Machines Corporation by 3.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 4,651,213 shares of the technology company’s stock worth $715,497,000 after buying an additional 134,862 shares during the period. Hedge funds and other institutional investors own 58.57% of the company’s stock.

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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