IBM (IBM) Given New $140.00 Price Target at Citigroup

IBM (NYSE:IBM) had its price objective hoisted by Citigroup from $130.00 to $140.00 in a research report report published on Wednesday morning, The Fly reports. They currently have a neutral rating on the technology company’s stock.

A number of other brokerages have also commented on IBM. Zacks Investment Research lowered shares of IBM from a hold rating to a sell rating in a report on Monday. Credit Suisse Group began coverage on shares of IBM in a report on Thursday, April 11th. They issued an outperform rating and a $173.00 price objective on the stock. ValuEngine upgraded shares of IBM from a sell rating to a hold rating in a report on Wednesday, February 13th. Royal Bank of Canada reiterated an outperform rating and issued a $160.00 price objective (up previously from $155.00) on shares of IBM in a report on Wednesday, January 23rd. Finally, Wedbush reiterated a hold rating and issued a $131.00 price objective on shares of IBM in a report on Wednesday, January 23rd. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of Hold and an average target price of $155.72.

IBM stock traded up $0.77 during trading on Wednesday, reaching $139.88. The stock had a trading volume of 50,423 shares, compared to its average volume of 4,246,005. IBM has a 1-year low of $105.94 and a 1-year high of $154.36. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.29 and a quick ratio of 1.24. The firm has a market capitalization of $124.43 billion, a P/E ratio of 10.13, a P/E/G ratio of 2.55 and a beta of 1.25.

IBM (NYSE:IBM) last issued its quarterly earnings data on Tuesday, April 16th. The technology company reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.03. IBM had a net margin of 10.97% and a return on equity of 68.61%. The firm had revenue of $18.18 billion for the quarter, compared to analyst estimates of $18.53 billion. During the same quarter in the previous year, the business posted $2.45 EPS. The firm’s revenue was down 4.7% compared to the same quarter last year. On average, sell-side analysts anticipate that IBM will post 13.9 EPS for the current year.

In other news, insider Erich Clementi sold 13,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $139.01, for a total value of $1,807,130.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Diane J. Gherson sold 1,989 shares of the business’s stock in a transaction dated Wednesday, February 13th. The stock was sold at an average price of $137.25, for a total transaction of $272,990.25. The disclosure for this sale can be found here. Insiders sold a total of 20,867 shares of company stock valued at $2,877,569 in the last three months. Insiders own 0.19% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Paloma Partners Management Co grew its position in IBM by 127.4% in the 3rd quarter. Paloma Partners Management Co now owns 1,453 shares of the technology company’s stock worth $220,000 after purchasing an additional 6,757 shares during the last quarter. Albion Financial Group UT grew its position in shares of IBM by 1.5% during the third quarter. Albion Financial Group UT now owns 18,471 shares of the technology company’s stock worth $2,793,000 after purchasing an additional 281 shares in the last quarter. Cozad Asset Management Inc. grew its position in shares of IBM by 39.2% during the fourth quarter. Cozad Asset Management Inc. now owns 3,171 shares of the technology company’s stock worth $360,000 after purchasing an additional 893 shares in the last quarter. Edmp Inc. grew its position in shares of IBM by 2.3% during the fourth quarter. Edmp Inc. now owns 11,032 shares of the technology company’s stock worth $1,254,000 after purchasing an additional 243 shares in the last quarter. Finally, BB&T Corp grew its position in shares of IBM by 4.8% during the fourth quarter. BB&T Corp now owns 50,878 shares of the technology company’s stock worth $5,783,000 after purchasing an additional 2,329 shares in the last quarter. 55.58% of the stock is owned by institutional investors and hedge funds.

IBM Company Profile

International Business Machines Corporation operates as an integrated technology and services company worldwide. Its Cognitive Solutions segment offers a portfolio of enterprise artificial intelligence platforms, such as analytics and data management platforms, cloud data services, talent management, and industry solutions primarily under the Watson Platform, Watson Health, and Watson Internet of Things names.

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