International Business Machines (NYSE:IBM) Given New $129.00 Price Target at Societe Generale

International Business Machines (NYSE:IBMGet Rating) had its price target trimmed by Societe Generale to $129.00 in a report published on Tuesday, Stock Target Advisor reports.

IBM has been the subject of a number of other reports. BMO Capital Markets decreased their target price on International Business Machines from $152.00 to $148.00 in a report on Tuesday, July 19th. Morgan Stanley decreased their target price on International Business Machines from $157.00 to $155.00 and set an overweight rating for the company in a report on Tuesday, July 19th. Credit Suisse Group lifted their target price on International Business Machines from $156.00 to $163.00 and gave the company an outperform rating in a report on Wednesday, August 17th. Finally, StockNews.com lowered International Business Machines from a buy rating to a hold rating in a report on Wednesday, August 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $145.18.

International Business Machines Stock Down 2.6 %

Shares of NYSE:IBM opened at $127.25 on Tuesday. The firm has a market capitalization of $114.93 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 1.95 and a beta of 0.84. International Business Machines has a 1 year low of $114.56 and a 1 year high of $146.00. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.88 and a quick ratio of 0.82. The firm’s 50-day moving average is $132.67 and its two-hundred day moving average is $132.89.

International Business Machines (NYSE:IBMGet Rating) last released its earnings results on Monday, July 18th. The technology company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.02. The company had revenue of $15.54 billion for the quarter, compared to analyst estimates of $15.18 billion. International Business Machines had a net margin of 8.72% and a return on equity of 43.52%. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the business earned $2.33 EPS. Analysts predict that International Business Machines will post 9.47 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, September 10th. Shareholders of record on Wednesday, August 10th were paid a $1.65 dividend. This represents a $6.60 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date of this dividend was Tuesday, August 9th. International Business Machines’s dividend payout ratio is presently 107.14%.

Institutional Trading of International Business Machines

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cibc World Market Inc. increased its position in shares of International Business Machines by 3.1% during the first quarter. Cibc World Market Inc. now owns 329,303 shares of the technology company’s stock worth $42,816,000 after purchasing an additional 9,996 shares in the last quarter. Capital Asset Advisory Services LLC increased its position in shares of International Business Machines by 24.2% during the first quarter. Capital Asset Advisory Services LLC now owns 5,044 shares of the technology company’s stock worth $656,000 after purchasing an additional 982 shares in the last quarter. Callahan Advisors LLC increased its position in shares of International Business Machines by 37.7% during the first quarter. Callahan Advisors LLC now owns 2,906 shares of the technology company’s stock worth $378,000 after purchasing an additional 796 shares in the last quarter. Graypoint LLC increased its position in shares of International Business Machines by 47.9% during the first quarter. Graypoint LLC now owns 3,471 shares of the technology company’s stock worth $451,000 after purchasing an additional 1,124 shares in the last quarter. Finally, Sigma Planning Corp increased its position in shares of International Business Machines by 6.3% during the first quarter. Sigma Planning Corp now owns 34,338 shares of the technology company’s stock worth $4,465,000 after purchasing an additional 2,027 shares in the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.

About International Business Machines

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International Business Machines Corporation provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions, such as Red Hat, an enterprise open-source solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.

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Analyst Recommendations for International Business Machines (NYSE:IBM)

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