Citigroup Increases IBM (IBM) Price Target to $140.00

IBM (NYSE:IBM) had its price objective upped by research analysts at Citigroup from $130.00 to $140.00 in a report released on Wednesday, The Fly reports. The brokerage currently has a “neutral” rating on the technology company’s stock. Citigroup‘s price objective indicates a potential upside of 0.64% from the stock’s current price.

Several other equities analysts also recently weighed in on the stock. Stifel Nicolaus lifted their target price on shares of IBM from $145.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, January 15th. Cantor Fitzgerald reiterated a “hold” rating and issued a $140.00 target price on shares of IBM in a research note on Wednesday, January 16th. Wells Fargo & Co reiterated a “market perform” rating and issued a $140.00 target price (down previously from $155.00) on shares of IBM in a research note on Wednesday, January 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $160.00 target price (up previously from $155.00) on shares of IBM in a research note on Wednesday, January 23rd. Finally, BMO Capital Markets lifted their target price on shares of IBM to $147.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 23rd. They noted that the move was a valuation call. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the stock. IBM presently has an average rating of “Hold” and a consensus target price of $155.72.

NYSE IBM opened at $139.11 on Wednesday. IBM has a 52-week low of $105.94 and a 52-week high of $154.36. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.29 and a quick ratio of 1.24. The stock has a market cap of $128.05 billion, a P/E ratio of 10.07, a P/E/G ratio of 2.55 and a beta of 1.25.

IBM (NYSE:IBM) last posted its earnings results on Tuesday, April 16th. The technology company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.03. The firm had revenue of $18.18 billion during the quarter, compared to the consensus estimate of $18.53 billion. IBM had a net margin of 10.97% and a return on equity of 68.61%. The company’s revenue was down 4.7% on a year-over-year basis. During the same quarter last year, the company earned $2.45 earnings per share. On average, equities research analysts anticipate that IBM will post 13.9 EPS for the current year.

In other IBM news, insider Diane J. Gherson sold 5,754 shares of IBM stock in a transaction that occurred on Wednesday, February 6th. The shares were sold at an average price of $135.67, for a total transaction of $780,645.18. Following the completion of the sale, the insider now directly owns 23,117 shares in the company, valued at $3,136,283.39. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Diane J. Gherson sold 1,989 shares of IBM stock in a transaction that occurred on Wednesday, February 13th. The shares were sold at an average price of $137.25, for a total transaction of $272,990.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,867 shares of company stock valued at $2,877,569. 0.19% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in IBM. Nalls Sherbakoff Group LLC bought a new stake in shares of IBM in the 4th quarter worth approximately $34,000. Sycomore Asset Management bought a new stake in shares of IBM in the 4th quarter worth approximately $81,000. Sharkey Howes & Javer lifted its holdings in shares of IBM by 75.9% in the 4th quarter. Sharkey Howes & Javer now owns 721 shares of the technology company’s stock worth $82,000 after acquiring an additional 311 shares during the last quarter. Paloma Partners Management Co lifted its holdings in shares of IBM by 127.4% in the 3rd quarter. Paloma Partners Management Co now owns 1,453 shares of the technology company’s stock worth $220,000 after acquiring an additional 6,757 shares during the last quarter. Finally, Sonora Investment Management LLC lifted its holdings in shares of IBM by 166.2% in the 4th quarter. Sonora Investment Management LLC now owns 1,637 shares of the technology company’s stock worth $186,000 after acquiring an additional 1,022 shares during the last quarter. Institutional investors and hedge funds own 55.58% of the company’s stock.

About IBM

International Business Machines Corporation operates as an integrated technology and services company worldwide. Its Cognitive Solutions segment offers a portfolio of enterprise artificial intelligence platforms, such as analytics and data management platforms, cloud data services, talent management, and industry solutions primarily under the Watson Platform, Watson Health, and Watson Internet of Things names.

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