Posted by Don Majors on Jan 13th, 2017 // No Comments
Societe Generale set a $160.00 target price on International Business Machines Corporation (NYSE:IBM) in a research report report published on Thursday morning. The firm currently has a hold rating on the technology company’s stock.
A number of other equities research analysts have also recently commented on IBM. Vetr raised shares of International Business Machines Corporation from a hold rating to a buy rating and set a $166.23 target price for the company in a report on Thursday, December 1st. Sanford C. Bernstein  reaffirmed a market perform rating and issued a $140.00 target price on shares of International Business Machines Corporation in a report on Friday, October 21st. Cantor Fitzgerald  set a $162.00 target price on shares of International Business Machines Corporation and gave the company a hold rating in a report on Saturday, October 15th. Credit Suisse Group  reaffirmed a sell rating and issued a $110.00 target price on shares of International Business Machines Corporation in a report on Thursday, December 1st. Finally, RBC Capital Markets  reissued a sector perform rating and set a $165.00 price target on shares of International Business Machines Corporation in a report on Tuesday, October 18th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned  a hold rating and nine have assigned  a buy rating to the company. The company  has an average rating of Hold and a consensus target price of $152.60.
International Business Machines Corporation ( NYSE:IBM ) traded down 0.36% during midday trading on Thursday, hitting $167.34. The stock had a trading volume of 2,874,587 shares. International Business Machines Corporation has a 12 month low of $116.90 and a 12 month high of $169.95. The stock has a market cap of $159.12 billion, a price-to-earnings ratio of 13.63 and a beta of 0.97. The stock has a 50 day moving average of $165.82 and a 200 day moving average of $159.21.
International Business Machines Corporation (NYSE:IBM) last announced its earnings results on Monday, October 17th. The technology company reported $3.29 EPS for the quarter, beating analysts’ consensus estimates of $3.24 by $0.05. International Business Machines Corporation had a net margin of 14.75% and a return on equity of 82.86%. The business earned $19.23 billion during the quarter, compared to analysts’ expectations of $19 billion. During the same period in the prior year, the company earned $3.34 earnings per share. The business’s revenue was down .3% compared to the same quarter last year.  Analysts expect that  International Business Machines Corporation will post $13.49 EPS for the current fiscal year.
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In other International Business Machines Corporation news, insider Kralingen Bridget A. Van sold 2,107 shares of the stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $162.44, for a total transaction of $342,261.08. Following the transaction, the insider now owns 4,147 shares of the company’s stock, valued at $673,638.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website . Also, insider Kralingen Bridget A. Van sold 330 shares of the stock in a transaction that occurred on Thursday, October 20th. The stock was sold at an average price of $152.05, for a total transaction of $50,176.50. Following the transaction, the insider now directly owns 6,977 shares in the company, valued at approximately $1,060,852.85. The disclosure for this sale can be found here . Company insiders own  0.08% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Roble Belko & Company Inc increased its position in shares of  International Business Machines Corporation by 2.9% in the second quarter. Roble Belko & Company Inc now owns 674 shares of the technology company’s stock worth $102,000 after buying an additional 19 shares in the last quarter.  Thomas J. Herzfeld Advisors Inc. acquired a new position in shares of  International Business Machines Corporation during the second quarter worth approximately $105,000.  Cypress Capital Management LLC WY acquired a new position in shares of  International Business Machines Corporation during the second quarter worth approximately $107,000.  Kernodle & Katon Asset Management Group LLC increased its position in shares of  International Business Machines Corporation by 5.2% in the third quarter. Kernodle & Katon Asset Management Group LLC now owns 687 shares of the technology company’s stock worth $109,000 after buying an additional 34 shares in the last quarter.  Finally, Jackson Grant Investment Advisers Inc. increased its position in shares of  International Business Machines Corporation by 0.7% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 726 shares of the technology company’s stock worth $110,000 after buying an additional 5 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.
About International Business Machines Corporation
International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Global Technology Services (GTS), Global Business Services (GBS), Software, Systems Hardware and Global Financing. The Company’s GTS segment offers services, including strategic outsourcing, integrated technology services, cloud and technology support services (maintenance services).
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