International Business Machines (NYSE:IBM) Stock Price Up 0.4% After Analyst Upgrade

International Business Machines Co. (NYSE:IBM - Get Free Report)'s stock price shot up 0.4% during trading 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 $223.61. 770,061 shares changed hands during trading, a decline of 82% from the average session volume of 4,207,636 shares. The stock had previously closed at $222.72.

A number of other research analysts have also recently weighed in on IBM. Jefferies Financial Group lifted their price objective on shares of International Business Machines from $190.00 to $200.00 and gave the company a "hold" rating in a report on Thursday, July 25th. StockNews.com raised International Business Machines from a "hold" rating to a "buy" rating in a research report on Wednesday, June 19th. UBS Group lifted their target price on International Business Machines from $130.00 to $145.00 and gave the company a "sell" rating in a report on Wednesday, September 4th. Evercore ISI increased their price target on International Business Machines from $215.00 to $240.00 and gave the company an "outperform" rating in a research report on Wednesday, September 11th. Finally, The Goldman Sachs Group boosted their price objective on International Business Machines from $220.00 to $250.00 and gave the stock a "buy" rating in a research report on Monday. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $194.35.

Institutional Trading of International Business Machines

Large investors have recently bought and sold shares of the business. 1832 Asset Management L.P. acquired a new position in International Business Machines in the 4th quarter valued at about $3,017,000. Pinebridge Investments L.P. raised its holdings in International Business Machines by 78.9% during the fourth quarter. Pinebridge Investments L.P. now owns 59,937 shares of the technology company's stock worth $9,803,000 after purchasing an additional 26,434 shares in the last quarter. Stephens Inc. AR lifted its position in International Business Machines by 19.1% in the fourth quarter. Stephens Inc. AR now owns 70,151 shares of the technology company's stock valued at $11,473,000 after purchasing an additional 11,258 shares during the period. Morningstar Investment Services LLC raised its stake in shares of International Business Machines by 146.6% during the 4th quarter. Morningstar Investment Services LLC now owns 7,437 shares of the technology company's stock worth $1,218,000 after buying an additional 4,421 shares in the last quarter. Finally, Angeles Wealth Management LLC boosted its stake in shares of International Business Machines by 31.6% in the fourth quarter. Angeles Wealth Management LLC now owns 2,735 shares of the technology company's stock valued at $447,000 after buying an additional 657 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Trading Up 1.5 %

The company has a market cap of $207.60 billion, a price-to-earnings ratio of 25.59, a P/E/G ratio of 4.90 and a beta of 0.70. The business has a fifty day simple moving average of $202.93 and a 200 day simple moving average of $186.04. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly 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 for the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The company's quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.18 EPS. On average, equities analysts anticipate that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a $1.67 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a yield of 2.96%. International Business Machines's payout ratio is 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.