KeyCorp Reiterates “Hold” Rating for International Business Machines Corporation (IBM)

International Business Machines Corporation (NYSE:IBM)‘s stock had its “hold” rating reiterated by equities research analysts at KeyCorp in a research report issued on Friday.

IBM has been the subject of a number of other research reports. BidaskClub raised shares of International Business Machines Corporation from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. Royal Bank Of Canada reaffirmed a “hold” rating on shares of International Business Machines Corporation in a research report on Friday, October 13th. Stifel Nicolaus reissued a “buy” rating and issued a $182.00 price target on shares of International Business Machines Corporation in a research report on Friday, July 21st. Morgan Stanley reissued an “overweight” rating and issued a $192.00 price target on shares of International Business Machines Corporation in a research report on Wednesday, August 23rd. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $170.00 price target (up previously from $167.00) on shares of International Business Machines Corporation in a research report on Wednesday, October 18th. Eight analysts have rated the stock with a sell rating, eighteen have issued a hold rating and ten have assigned a buy rating to the company’s stock. International Business Machines Corporation currently has a consensus rating of “Hold” and an average target price of $158.90.

International Business Machines Corporation (NYSE:IBM) opened at $151.58 on Friday. The stock has a market capitalization of $141.97 billion, a price-to-earnings ratio of 11.23, a P/E/G ratio of 2.25 and a beta of 0.94. The company has a current ratio of 1.41, a quick ratio of 1.36 and a debt-to-equity ratio of 2.09.

International Business Machines Corporation (NYSE:IBM) last posted its quarterly earnings data on Tuesday, October 17th. The technology company reported $3.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.28 by $0.02. The firm had revenue of $19.15 billion during the quarter, compared to analysts’ expectations of $18.63 billion. International Business Machines Corporation had a net margin of 14.43% and a return on equity of 68.68%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the company posted $3.29 EPS. analysts predict that International Business Machines Corporation will post 13.8 earnings per share for the current year.

International Business Machines Corporation declared that its Board of Directors has initiated a share repurchase program on Tuesday, October 31st that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the technology company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

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Several institutional investors have recently modified their holdings of IBM. Reynders McVeigh Capital Management LLC increased its stake in shares of International Business Machines Corporation by 325.6% during the first quarter. Reynders McVeigh Capital Management LLC now owns 36,634 shares of the technology company’s stock worth $6,379,000 after acquiring an additional 28,026 shares during the period. Dowling & Yahnke LLC increased its stake in shares of International Business Machines Corporation by 2.0% during the first quarter. Dowling & Yahnke LLC now owns 35,587 shares of the technology company’s stock worth $6,197,000 after acquiring an additional 696 shares during the period. Lourd Capital LLC increased its stake in shares of International Business Machines Corporation by 0.3% during the first quarter. Lourd Capital LLC now owns 47,812 shares of the technology company’s stock worth $8,326,000 after acquiring an additional 126 shares during the period. Virtu Financial LLC increased its stake in shares of International Business Machines Corporation by 25.9% during the first quarter. Virtu Financial LLC now owns 4,036 shares of the technology company’s stock worth $703,000 after acquiring an additional 831 shares during the period. Finally, Retirement Planning Group acquired a new position in shares of International Business Machines Corporation during the first quarter worth about $212,000. Institutional investors and hedge funds own 57.88% 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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