International Business Machines (NYSE:IBM) Sets New 52-Week High After Analyst Upgrade

International Business Machines Co. (NYSE:IBM - Get Free Report)'s share price reached a new 52-week high on Friday after Bernstein Bank raised their price target on the stock from $185.00 to $210.00. Bernstein Bank currently has a market perform rating on the stock. International Business Machines traded as high as $224.94 and last traded at $223.92, with a volume of 322788 shares traded. The stock had previously closed at $222.72.

Several other research firms also recently issued reports on IBM. UBS Group upped their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the company a "sell" rating in a report on Wednesday, September 4th. Royal Bank of Canada lifted their price objective on shares of International Business Machines from $200.00 to $211.00 and gave the stock an "outperform" rating in a research note on Thursday, July 25th. DZ Bank downgraded International Business Machines from a "buy" rating to a "hold" rating and set a $215.00 target price on the stock. in a research report on Wednesday. Stifel Nicolaus lifted their price target on International Business Machines from $190.00 to $205.00 and gave the stock a "buy" rating in a research report on Thursday, July 25th. Finally, BMO Capital Markets increased their price objective on International Business Machines from $190.00 to $210.00 and gave the company a "market perform" rating in a report on Thursday, July 25th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $194.35.

Institutional Investors Weigh In On International Business Machines

Hedge funds have recently modified their holdings of the company. FPC Investment Advisory Inc. acquired a new position in shares of International Business Machines in the 1st quarter worth approximately $26,000. ESL Trust Services LLC purchased a new stake in shares of International Business Machines in the 1st quarter valued at $28,000. Creekmur Asset Management LLC acquired a new position in International Business Machines during the 4th quarter worth about $29,000. Ables Iannone Moore & Associates Inc. purchased a new stake in International Business Machines during the fourth quarter worth about $31,000. Finally, Financial Synergies Wealth Advisors Inc. boosted its stake in shares of International Business Machines by 164.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company's stock valued at $38,000 after purchasing an additional 123 shares during the period. Hedge funds and other institutional investors own 58.96% of the company's stock.

International Business Machines Stock Performance

The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The company has a market capitalization of $207.60 billion, a price-to-earnings ratio of 25.32, a price-to-earnings-growth ratio of 4.90 and a beta of 0.70. The stock's fifty day simple moving average is $202.93 and its 200-day simple moving average is $186.04.

International Business Machines (NYSE:IBM - Get Free Report) last issued its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business had revenue of $15.77 billion during the quarter, compared to analysts' expectations of $15.62 billion. During the same quarter in the prior year, the business posted $2.18 EPS. The company's revenue for the quarter was up 1.9% on a year-over-year basis. Analysts predict that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a dividend of $1.67 per share. The ex-dividend date was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.96%. International Business Machines's dividend payout ratio (DPR) is presently 75.65%.

About International Business Machines

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.