International Business Machines (NYSE:IBM) Given New $270.00 Price Target at Bank of America

International Business Machines (NYSE:IBM - Get Free Report) had its target price boosted by stock analysts at Bank of America from $260.00 to $270.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the technology company's stock. Bank of America's price target suggests a potential upside of 5.51% from the stock's previous close.

A number of other analysts have also recently issued reports on the company. Sanford C. Bernstein boosted their target price on International Business Machines from $210.00 to $215.00 and gave the stock a "market perform" rating in a report on Friday, January 3rd. DZ Bank cut shares of International Business Machines from a "buy" rating to a "hold" rating and set a $215.00 price target for the company. in a research report on Wednesday, October 2nd. Jefferies Financial Group upped their target price on International Business Machines from $200.00 to $245.00 and gave the stock a "hold" rating in a research report on Monday, October 21st. Stifel Nicolaus upped their target price on International Business Machines from $205.00 to $246.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. upped their price target on International Business Machines from $227.00 to $233.00 and gave the stock a "neutral" rating in a report on Thursday, January 23rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, International Business Machines currently has an average rating of "Hold" and an average target price of $223.13.

International Business Machines Stock Up 11.9 %

NYSE IBM traded up $27.27 during trading on Thursday, reaching $255.90. 9,384,710 shares of the company's stock were exchanged, compared to its average volume of 4,157,322. The company has a 50 day moving average price of $225.24 and a two-hundred day moving average price of $213.55. The stock has a market cap of $236.62 billion, a P/E ratio of 37.26, a price-to-earnings-growth ratio of 4.78 and a beta of 0.74. International Business Machines has a 1 year low of $162.62 and a 1 year high of $261.80. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping analysts' consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. On average, equities research analysts anticipate that International Business Machines will post 10.16 EPS for the current fiscal year.

Insider Buying and Selling

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the sale, the senior vice president now directly owns 25,390 shares of the company's stock, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.07% of the stock is owned by company insiders.

Institutional Investors Weigh In On International Business Machines

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Compass Financial Services Inc bought a new position in International Business Machines during the 4th quarter worth approximately $26,000. Hazlett Burt & Watson Inc. raised its stake in shares of International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company's stock worth $29,000 after purchasing an additional 116 shares in the last quarter. Hara Capital LLC bought a new stake in International Business Machines in the third quarter valued at approximately $29,000. Avondale Wealth Management raised its stake in International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company's stock valued at $34,000 after acquiring an additional 56 shares during the period. Finally, Valued Wealth Advisors LLC raised its position in shares of International Business Machines by 134.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company's stock valued at $35,000 after purchasing an additional 90 shares during the period. 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.

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