International Business Machines (NYSE:IBM) Price Target Increased to $163.00 by Analysts at Credit Suisse Group

International Business Machines (NYSE:IBMGet Rating) had its price objective raised by Credit Suisse Group from $156.00 to $163.00 in a research note issued on Wednesday, Stock Target Advisor reports. The firm currently has an “outperform” rating on the technology company’s stock. Credit Suisse Group’s price objective points to a potential upside of 19.36% from the stock’s current price.

IBM has been the subject of a number of other reports. Morgan Stanley decreased their target price on International Business Machines from $157.00 to $155.00 and set an “overweight” rating for the company in a research report on Tuesday, July 19th. Tigress Financial raised their target price on International Business Machines from $133.00 to $139.00 and gave the stock a “neutral” rating in a research report on Thursday, April 21st. Bank of America raised their target price on International Business Machines from $162.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, April 20th. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research report on Thursday, July 21st. Finally, BMO Capital Markets cut their price target on International Business Machines from $152.00 to $148.00 in a report on Tuesday, July 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines presently has an average rating of “Moderate Buy” and a consensus target price of $146.80.

International Business Machines Stock Performance

Shares of IBM opened at $136.56 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.82 and a debt-to-equity ratio of 2.28. The company has a market capitalization of $123.34 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 2.04 and a beta of 0.85. The stock has a 50 day moving average of $135.55 and a 200 day moving average of $132.80. International Business Machines has a 12 month low of $114.56 and a 12 month high of $146.00.

International Business Machines (NYSE:IBMGet Rating) last issued its quarterly earnings results on Monday, July 18th. The technology company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.02. International Business Machines had a return on equity of 43.52% and a net margin of 8.72%. The company had revenue of $15.54 billion during the quarter, compared to the consensus estimate of $15.18 billion. During the same period last year, the business posted $2.33 earnings per share. International Business Machines’s revenue was up 9.3% on a year-over-year basis. As a group, sell-side analysts forecast that International Business Machines will post 9.47 earnings per share for the current year.

Insider Activity at International Business Machines

In related news, major shareholder Business Machine International sold 22,301,536 shares of International Business Machines stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $13.95, for a total transaction of $311,106,427.20. Following the completion of the sale, the insider now owns 22,301,536 shares of the company’s stock, valued at $311,106,427.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.04% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On International Business Machines

Several large investors have recently added to or reduced their stakes in IBM. Capital Asset Advisory Services LLC lifted its stake in International Business Machines by 24.2% during the first quarter. Capital Asset Advisory Services LLC now owns 5,044 shares of the technology company’s stock worth $656,000 after purchasing an additional 982 shares during the last quarter. Callahan Advisors LLC lifted its stake in International Business Machines by 37.7% during the first quarter. Callahan Advisors LLC now owns 2,906 shares of the technology company’s stock worth $378,000 after purchasing an additional 796 shares during the last quarter. Graypoint LLC lifted its stake in International Business Machines by 47.9% during the first quarter. Graypoint LLC now owns 3,471 shares of the technology company’s stock worth $451,000 after purchasing an additional 1,124 shares during the last quarter. Sigma Planning Corp lifted its stake in International Business Machines by 6.3% during the first quarter. Sigma Planning Corp now owns 34,338 shares of the technology company’s stock worth $4,465,000 after purchasing an additional 2,027 shares during the last quarter. Finally, Bridgewater Advisors Inc. increased its holdings in shares of International Business Machines by 2.0% in the first quarter. Bridgewater Advisors Inc. now owns 5,581 shares of the technology company’s stock worth $726,000 after buying an additional 112 shares during the period. Institutional investors own 55.22% of the company’s stock.

International Business Machines Company Profile

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International Business Machines Corporation provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions, such as Red Hat, an enterprise open-source solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.

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Analyst Recommendations for International Business Machines (NYSE:IBM)

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