International Business Machines (NYSE:IBM) Given New $217.00 Price Target at Morgan Stanley

International Business Machines (NYSE:IBM - Free Report) had its price objective trimmed by Morgan Stanley from $222.00 to $217.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the technology company's stock.

Several other research firms have also issued reports on IBM. Royal Bank of Canada restated an "outperform" rating and set a $250.00 target price on shares of International Business Machines in a research report on Monday. Bank of America boosted their price objective on shares of International Business Machines from $250.00 to $260.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. Bernstein Bank increased their target price on shares of International Business Machines from $185.00 to $210.00 and gave the stock a "market perform" rating in a report on Thursday, October 3rd. DZ Bank cut shares of International Business Machines from a "buy" rating to a "hold" rating and set a $215.00 price objective for the company. in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. boosted their target price on International Business Machines from $227.00 to $233.00 and gave the company a "neutral" rating in a research note on Thursday, January 23rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $220.40.

International Business Machines Trading Up 0.5 %

NYSE IBM traded up $1.21 during trading hours on Tuesday, hitting $225.34. The company's stock had a trading volume of 4,484,435 shares, compared to its average volume of 3,691,590. The stock has a fifty day moving average of $224.65 and a 200 day moving average of $213.14. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. International Business Machines has a twelve month low of $162.62 and a twelve month high of $239.35. The firm has a market capitalization of $208.36 billion, a P/E ratio of 32.80, a PEG ratio of 4.78 and a beta of 0.74.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were paid a $1.67 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 2.96%. International Business Machines's dividend payout ratio is presently 97.23%.

Insiders Place Their Bets

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the sale, the senior vice president now directly owns 25,390 shares of the company's stock, valued at $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.07% of the company's stock.

Institutional Investors Weigh In On International Business Machines

Several hedge funds have recently added to or reduced their stakes in IBM. Magnolia Capital Advisors LLC bought a new stake in shares of International Business Machines during the second quarter worth approximately $520,000. Northwestern Mutual Wealth Management Co. boosted its stake in International Business Machines by 2.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 93,058 shares of the technology company's stock valued at $16,095,000 after purchasing an additional 2,001 shares during the period. Regal Investment Advisors LLC grew its holdings in International Business Machines by 2.1% in the 2nd quarter. Regal Investment Advisors LLC now owns 18,938 shares of the technology company's stock valued at $3,275,000 after buying an additional 393 shares in the last quarter. EP Wealth Advisors LLC increased its position in International Business Machines by 11.3% during the 2nd quarter. EP Wealth Advisors LLC now owns 31,481 shares of the technology company's stock worth $5,445,000 after buying an additional 3,208 shares during the period. Finally, Advisory Alpha LLC lifted its holdings in shares of International Business Machines by 0.8% during the second quarter. Advisory Alpha LLC now owns 7,748 shares of the technology company's stock worth $1,340,000 after buying an additional 65 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Company Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.