International Business Machines (NYSE:IBM) Given New $244.00 Price Target at JPMorgan Chase & Co.

International Business Machines (NYSE:IBM) had its price target upped by JPMorgan Chase & Co. from $233.00 to $244.00 in a report published on Thursday,Benzinga reports. The firm currently has a neutral rating on the technology company’s stock.

Several other brokerages also recently weighed in on IBM. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Morgan Stanley lifted their target price on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday. Stifel Nicolaus increased their price objective on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Sanford C. Bernstein lifted their price objective 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. Finally, UBS Group raised their price target on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $225.53.

International Business Machines Trading Up 12.9 %

International Business Machines stock opened at $258.22 on Thursday. International Business Machines has a 12 month low of $162.62 and a 12 month high of $261.80. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The business’s fifty day simple moving average is $225.24 and its two-hundred day simple moving average is $213.55. The company has a market capitalization of $238.76 billion, a price-to-earnings ratio of 40.28, a price-to-earnings-growth ratio of 4.25 and a beta of 0.74.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 40.37%. As a group, equities analysts predict that International Business Machines will post 10.54 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Monday, February 10th. International Business Machines’s dividend payout ratio is presently 104.21%.

Insider Buying and Selling

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were 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 owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.07% of the stock is owned by insiders.

Hedge Funds Weigh In On International Business Machines

Several institutional investors have recently bought and sold shares of IBM. Valmark Advisers Inc. boosted its position in International Business Machines by 7.8% during the 4th quarter. Valmark Advisers Inc. now owns 5,013 shares of the technology company’s stock valued at $1,102,000 after acquiring an additional 362 shares in the last quarter. Csenge Advisory Group boosted its position in International Business Machines by 17.3% during the fourth quarter. Csenge Advisory Group now owns 14,657 shares of the technology company’s stock valued at $3,222,000 after purchasing an additional 2,165 shares in the last quarter. Blue Zone Wealth Advisors LLC purchased a new position in International Business Machines in the fourth quarter valued at about $242,000. JNBA Financial Advisors raised its holdings in International Business Machines by 11.6% in the fourth quarter. JNBA Financial Advisors now owns 508 shares of the technology company’s stock worth $112,000 after purchasing an additional 53 shares in the last quarter. Finally, Kuhn & Co Investment Counsel purchased a new stake in shares of International Business Machines during the fourth quarter valued at about $441,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

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.