Trading Report: The International Business Machines Corp.’s (IBM) Market Perform Rating Reaffirmed at Sanford C. Bernstein

The International Business Machines Corp.’s (IBM) Market Perform Rating Reaffirmed at Sanford C. Bernstein

Sanford C. Bernstein reiterated their market perform rating on shares of International Business Machines Corp. (NYSE:IBM) in a research report released on Saturday. The firm currently has a $140.00 target price on the technology company’s stock.

IBM has been the subject of several other reports. Societe Generale upgraded shares of International Business Machines Corp. from a sell rating to a hold rating in a report on Monday, September 26th. Zacks Investment Research cut shares of International Business Machines Corp. from a hold rating to a sell rating in a research note on Tuesday, September 20th. Vetr upgraded shares of International Business Machines Corp. from a sell rating to a hold rating and set a $156.55 target price for the company in a research note on Monday, August 29th. JMP Securities reiterated a buy rating and issued a $157.00 target price on shares of International Business Machines Corp. in a research note on Thursday, June 23rd. Finally, Morgan Stanley reiterated an overweight rating on shares of International Business Machines Corp. in a research note on Wednesday, June 29th. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $154.47.

International Business Machines Corp. (NYSE:IBM) opened at 155.67 on Friday. The company has a market capitalization of $148.80 billion, a P/E ratio of 12.66 and a beta of 0.88. International Business Machines Corp. has a 1-year low of $116.90 and a 1-year high of $165.00. The firm’s 50-day moving average is $157.52 and its 200-day moving average is $154.03.

International Business Machines Corp. (NYSE:IBM) last posted its quarterly earnings results on Monday, July 18th. The technology company reported $2.95 EPS for the quarter, topping the consensus estimate of $2.89 by $0.06. The business earned $20.20 billion during the quarter, compared to analysts’ expectations of $20.03 billion. International Business Machines Corp. had a net margin of 14.86% and a return on equity of 88.92%. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the company posted $3.84 earnings per share. Equities research analysts predict that International Business Machines Corp. will post $13.51 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Saturday, September 10th. Stockholders of record on Wednesday, August 10th were paid a $1.40 dividend. The ex-dividend date was Monday, August 8th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.60%. International Business Machines Corp.’s dividend payout ratio (DPR) is presently 45.53%.

In other news, insider Erich Clementi sold 6,000 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $160.28, for a total value of $961,680.00. Following the completion of the sale, the insider now directly owns 25,100 shares of the company’s stock, valued at approximately $4,023,028. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Robert J. Picciano sold 1,922 shares of the company’s stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $159.16, for a total value of $305,905.52. Following the completion of the sale, the insider now directly owns 35,861 shares of the company’s stock, valued at $5,707,636.76. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the stock. Capital Research Global Investors boosted its stake in International Business Machines Corp. by 81.1% in the second quarter. Capital Research Global Investors now owns 7,135,471 shares of the technology company’s stock worth $1,083,022,000 after buying an additional 3,194,471 shares during the last quarter. State Street Corp boosted its stake in International Business Machines Corp. by 2.5% in the first quarter. State Street Corp now owns 50,852,184 shares of the technology company’s stock worth $7,701,559,000 after buying an additional 1,230,826 shares during the last quarter. Vanguard Group Inc. boosted its stake in International Business Machines Corp. by 2.2% in the second quarter. Vanguard Group Inc. now owns 55,476,336 shares of the technology company’s stock worth $8,420,198,000 after buying an additional 1,216,940 shares during the last quarter. BlackRock Fund Advisors boosted its stake in International Business Machines Corp. by 10.0% in the first quarter. BlackRock Fund Advisors now owns 12,645,562 shares of the technology company’s stock worth $1,915,170,000 after buying an additional 1,154,028 shares during the last quarter. Finally, Capital World Investors boosted its stake in International Business Machines Corp. by 22.3% in the second quarter. Capital World Investors now owns 5,322,000 shares of the technology company’s stock worth $807,773,000 after buying an additional 972,000 shares during the last quarter. 57.61% of the stock is owned by institutional investors.

About International Business Machines Corp.

Related posts

Leave a Comment