International Business Machines Co. (NYSE:IBM – Get Rating) – Equities research analysts at Wedbush cut their FY2023 earnings per share (EPS) estimates for International Business Machines in a research report issued to clients and investors on Tuesday, July 12th. Wedbush analyst M. Katri now forecasts that the technology company will earn $10.58 per share for the year, down from their prior estimate of $11.57. The consensus estimate for International Business Machines’ current full-year earnings is $9.89 per share.
A number of other brokerages also recently commented on IBM. Morgan Stanley upped their target price on International Business Machines from $150.00 to $157.00 and gave the company an “overweight” rating in a report on Wednesday, April 20th. BMO Capital Markets upped their target price on International Business Machines from $148.00 to $152.00 and gave the company a “market perform” rating in a report on Wednesday, April 20th. Bank of America upped their target price on International Business Machines from $162.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, April 20th. Credit Suisse Group increased their price objective on International Business Machines from $165.00 to $166.00 and gave the stock an “outperform” rating in a report on Wednesday, April 20th. Finally, StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $147.25.
Shares of International Business Machines stock opened at $139.06 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.92 and a debt-to-equity ratio of 2.44. The company has a market cap of $125.08 billion, a PE ratio of 22.80, a P/E/G ratio of 1.58 and a beta of 0.93. The business has a 50 day moving average of $137.39 and a 200 day moving average of $133.13. International Business Machines has a 52 week low of $114.56 and a 52 week high of $146.00. International Business Machines (NYSE:IBM – Get Rating) last released its quarterly earnings data on Tuesday, April 19th. The technology company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The firm had revenue of $14.20 billion during the quarter, compared to analyst estimates of $13.84 billion. International Business Machines had a return on equity of 42.14% and a net margin of 8.21%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.77 earnings per share.
Several institutional investors have recently added to or reduced their stakes in the stock. Duff & Phelps Investment Management Co. boosted its position in shares of International Business Machines by 0.8% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 9,330 shares of the technology company’s stock valued at $1,247,000 after buying an additional 76 shares during the last quarter. Cranbrook Wealth Management LLC boosted its position in International Business Machines by 1.5% in the first quarter. Cranbrook Wealth Management LLC now owns 5,264 shares of the technology company’s stock worth $685,000 after purchasing an additional 76 shares during the last quarter. SJS Investment Consulting Inc. boosted its position in International Business Machines by 39.9% in the first quarter. SJS Investment Consulting Inc. now owns 270 shares of the technology company’s stock worth $35,000 after purchasing an additional 77 shares during the last quarter. Rossmore Private Capital boosted its position in International Business Machines by 1.2% in the fourth quarter. Rossmore Private Capital now owns 6,418 shares of the technology company’s stock worth $858,000 after purchasing an additional 78 shares during the last quarter. Finally, Atlas Capital Advisors LLC boosted its position in International Business Machines by 3.4% in the first quarter. Atlas Capital Advisors LLC now owns 2,375 shares of the technology company’s stock worth $309,000 after purchasing an additional 78 shares during the last quarter. 55.22% of the stock is currently owned by institutional investors.
International Business Machines Insider Activity
In other news, major shareholder Business Machine International sold 22,301,536 shares of the firm’s stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $13.95, for a total transaction of $311,106,427.20. Following the completion of the transaction, the insider now directly owns 22,301,536 shares in the company, valued at $311,106,427.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.04% of the company’s stock.
The business also recently declared a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Tuesday, May 10th were issued a dividend of $1.65 per share. The ex-dividend date was Monday, May 9th. This is an increase from International Business Machines’s previous quarterly dividend of $1.64. This represents a $6.60 annualized dividend and a dividend yield of 4.75%. International Business Machines’s dividend payout ratio (DPR) is presently 108.20%.
About International Business Machines (Get Rating)
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Should you invest $1,000 in International Business Machines right now?
Before you consider International Business Machines, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and International Business Machines wasn’t on the list.
While International Business Machines currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here