Trade Report: Today, International Business Machines Corp. (IBM) Earns “Underperform” Rating from Credit Suisse Group AG

Today, International Business Machines Corp. (IBM) Earns “Underperform” Rating from Credit Suisse Group AG

Credit Suisse Group AG reiterated their underperform rating on shares of International Business Machines Corp. (NYSE:IBM) in a report released on Wednesday morning. They currently have a $110.00 target price on the technology company’s stock.

IBM has been the topic of a number of other research reports. Societe Generale upgraded International Business Machines Corp. from a sell rating to a hold rating in a research note on Monday, September 26th. Zacks Investment Research lowered International Business Machines Corp. from a hold rating to a sell rating in a research note on Tuesday, September 20th. Vetr upgraded International Business Machines Corp. from a sell rating to a hold rating and set a $156.55 target price on the stock in a research note on Monday, August 29th. JMP Securities reiterated a buy rating and set a $157.00 target price on shares of International Business Machines Corp. in a research note on Thursday, June 23rd. Finally, Barclays PLC reiterated an underweight rating on shares of International Business Machines Corp. in a research note on Tuesday, August 30th. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of Hold and an average price target of $154.47.

International Business Machines Corp. (NYSE:IBM) opened at 154.45 on Wednesday. International Business Machines Corp. has a 12 month low of $116.90 and a 12 month high of $165.00. The company has a market cap of $147.63 billion, a P/E ratio of 12.56 and a beta of 0.88. The firm has a 50-day moving average price of $156.85 and a 200 day moving average price of $154.25.

International Business Machines Corp. (NYSE:IBM) last released its quarterly earnings data on Monday, July 18th. The technology company reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.06. The firm had revenue of $20.20 billion for the quarter, compared to analyst estimates of $20.03 billion. International Business Machines Corp. had a return on equity of 88.92% and a net margin of 14.86%. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.84 earnings per share. On average, equities analysts expect that International Business Machines Corp. will post $13.51 earnings per share for the current year.

In other news, insider John E. Kelly III sold 6,698 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $160.89, for a total value of $1,077,641.22. Following the completion of the sale, the insider now directly owns 33,576 shares in the company, valued at approximately $5,402,042.64. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Robert J. Leblanc sold 15,708 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $162.25, for a total value of $2,548,623.00. Following the completion of the sale, the insider now owns 61,374 shares of the company’s stock, valued at $9,957,931.50. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. HL Financial Services LLC increased its position in International Business Machines Corp. by 1.1% in the second quarter. HL Financial Services LLC now owns 406,336 shares of the technology company’s stock worth $61,674,000 after buying an additional 4,564 shares during the period. CIBC World Markets Inc. increased its position in International Business Machines Corp. by 4.4% in the second quarter. CIBC World Markets Inc. now owns 82,236 shares of the technology company’s stock worth $12,482,000 after buying an additional 3,481 shares during the period. Country Club Trust Company n.a. increased its position in International Business Machines Corp. by 5.3% in the second quarter. Country Club Trust Company n.a. now owns 102,339 shares of the technology company’s stock worth $15,533,000 after buying an additional 5,182 shares during the period. Robeco Institutional Asset Management B.V. increased its position in International Business Machines Corp. by 8.9% in the second quarter. Robeco Institutional Asset Management B.V. now owns 71,658 shares of the technology company’s stock worth $10,877,000 after buying an additional 5,843 shares during the period. Finally, Montag A & Associates Inc. increased its position in International Business Machines Corp. by 1.3% in the second quarter. Montag A & Associates Inc. now owns 43,807 shares of the technology company’s stock worth $6,649,000 after buying an additional 553 shares during the period. Institutional investors and hedge funds own 57.63% of the company’s stock.

About International Business Machines Corp.

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