International Business Machines (NYSE:IBM) Earns Outperform Rating from Analysts at Oppenheimer

Oppenheimer assumed coverage on shares of International Business Machines (NYSE:IBM) in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports. The firm issued an outperform rating and a $320.00 target price on the technology company’s stock.

Several other equities research analysts have also recently commented on IBM. UBS Group raised their target price on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday, January 14th. Wedbush initiated coverage on International Business Machines in a research note on Monday, February 3rd. They set an “outperform” rating for the company. Morgan Stanley raised their price objective on International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Bank of America raised their price objective on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. raised their price objective on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $231.44.

International Business Machines Price Performance

Shares of IBM opened at $259.07 on Tuesday. International Business Machines has a 1 year low of $162.62 and a 1 year high of $265.72. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The company has a market capitalization of $239.55 billion, a price-to-earnings ratio of 40.42, a price-to-earnings-growth ratio of 5.57 and a beta of 0.76. The business has a 50-day moving average of $231.15 and a 200-day moving average of $218.49.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. As a group, equities research analysts anticipate that International Business Machines will post 10.75 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date is Monday, February 10th. International Business Machines’s payout ratio is currently 104.21%.

Hedge Funds Weigh In On International Business Machines

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of International Business Machines by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock valued at $20,189,023,000 after acquiring an additional 1,539,888 shares during the last quarter. State Street Corp lifted its stake in shares of International Business Machines by 2.2% in the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after acquiring an additional 1,200,803 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of International Business Machines by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company’s stock valued at $4,589,145,000 after acquiring an additional 427,499 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of International Business Machines by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,665,256 shares of the technology company’s stock valued at $1,465,223,000 after acquiring an additional 126,547 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of International Business Machines in the 4th quarter valued at about $1,236,176,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

About International Business Machines

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.