International Business Machines Corporation (IBM) Rating Increased to Strong-Buy at Vetr Inc.

International Business Machines Corporation (NYSE:IBM) was upgraded by equities researchers at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued on Wednesday. The brokerage currently has a $165.26 price target on the technology company’s stock. Vetr‘s target price suggests a potential upside of 12.35% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. UBS AG restated a “neutral” rating and set a $160.00 target price (up previously from $152.00) on shares of International Business Machines Corporation in a report on Wednesday, October 18th. Jefferies Group LLC restated a “sell” rating and set a $125.00 target price on shares of International Business Machines Corporation in a report on Thursday, September 21st. Berenberg Bank restated a “sell” rating and set a $125.00 target price on shares of International Business Machines Corporation in a report on Friday, July 21st. Cantor Fitzgerald restated a “hold” rating and set a $154.00 target price on shares of International Business Machines Corporation in a report on Friday, October 13th. Finally, Wedbush restated a “neutral” rating and set a $155.00 target price on shares of International Business Machines Corporation in a report on Wednesday, August 9th. Eight analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $158.93.

Shares of International Business Machines Corporation (NYSE IBM) traded down $1.79 during midday trading on Wednesday, hitting $147.10. 4,773,100 shares of the company traded hands, compared to its average volume of 4,250,120. The company has a current ratio of 1.41, a quick ratio of 1.36 and a debt-to-equity ratio of 2.09. International Business Machines Corporation has a 12 month low of $139.13 and a 12 month high of $182.79. The stock has a market capitalization of $136,020.00, a P/E ratio of 10.86, a price-to-earnings-growth ratio of 2.17 and a beta of 0.94.

International Business Machines Corporation (NYSE:IBM) last released its quarterly earnings results on Tuesday, October 17th. The technology company reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.02. The business had revenue of $19.15 billion for the quarter, compared to analysts’ expectations of $18.63 billion. International Business Machines Corporation had a net margin of 14.43% and a return on equity of 68.68%. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.29 earnings per share. equities analysts predict that International Business Machines Corporation will post 13.8 EPS for the current year.

International Business Machines Corporation announced that its Board of Directors has authorized a share repurchase plan on Tuesday, October 31st that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the technology company to buy shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

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A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in International Business Machines Corporation by 3.7% during the second quarter. Vanguard Group Inc. now owns 62,228,040 shares of the technology company’s stock valued at $9,572,538,000 after purchasing an additional 2,241,818 shares in the last quarter. BlackRock Inc. boosted its position in International Business Machines Corporation by 2.4% during the second quarter. BlackRock Inc. now owns 52,936,360 shares of the technology company’s stock valued at $8,143,204,000 after purchasing an additional 1,241,441 shares in the last quarter. State Street Corp boosted its position in International Business Machines Corporation by 0.4% during the first quarter. State Street Corp now owns 51,198,962 shares of the technology company’s stock valued at $8,915,788,000 after purchasing an additional 181,993 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in International Business Machines Corporation by 4.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,242,553 shares of the technology company’s stock valued at $763,790,000 after purchasing an additional 216,212 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in International Business Machines Corporation by 2.5% during the third quarter. Legal & General Group Plc now owns 4,929,973 shares of the technology company’s stock valued at $715,252,000 after purchasing an additional 119,747 shares in the last quarter. 58.25% of the stock is currently owned by institutional investors.

International Business Machines Corporation Company Profile

International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.

Analyst Recommendations for International Business Machines Corporation (NYSE:IBM)

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