International Business Machines (NYSE:IBM) Sets New 1-Year High After Analyst Upgrade

International Business Machines Co. (NYSE:IBM - Get Free Report)'s stock price hit a new 52-week high on Thursday after Royal Bank of Canada raised their price target on the stock from $211.00 to $250.00. Royal Bank of Canada currently has an outperform rating on the stock. International Business Machines traded as high as $235.83 and last traded at $233.87, with a volume of 468761 shares changing hands. The stock had previously closed at $234.30.

IBM has been the topic of a number of other reports. BMO Capital Markets raised their target price on International Business Machines from $190.00 to $210.00 and gave the company a "market perform" rating in a research note on Thursday, July 25th. Evercore ISI lifted their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the company an "outperform" rating in a research report on Wednesday, September 11th. DZ Bank cut shares of International Business Machines from a "buy" rating to a "hold" rating and set a $215.00 target price for the company. in a research report on Wednesday, October 2nd. StockNews.com raised International Business Machines from a "hold" rating to a "buy" rating in a report on Wednesday, June 19th. Finally, The Goldman Sachs Group increased their price objective on International Business Machines from $220.00 to $250.00 and gave the stock a "buy" rating in a report on Monday, September 30th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $198.41.

Institutional Trading of International Business Machines

Several institutional investors and hedge funds have recently added to or reduced their stakes in IBM. FPC Investment Advisory Inc. acquired a new position in shares of International Business Machines in the 1st quarter worth $26,000. ESL Trust Services LLC acquired a new stake in International Business Machines during the 1st quarter worth about $28,000. Creekmur Asset Management LLC purchased a new stake in International Business Machines during the fourth quarter valued at about $29,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of International Business Machines in the fourth quarter worth about $31,000. Finally, Oliver Lagore Vanvalin Investment Group purchased a new position in shares of International Business Machines in the second quarter worth approximately $36,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Price Performance

The stock's fifty day moving average price is $205.92 and its 200-day moving average price is $187.02. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The firm has a market cap of $214.08 billion, a price-to-earnings ratio of 26.39, a price-to-earnings-growth ratio of 4.90 and a beta of 0.70.

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

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines's dividend payout ratio (DPR) is 75.65%.

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.