JPMorgan Chase & Co. Begins Coverage on IBM (NYSE:IBM)

JPMorgan Chase & Co. initiated coverage on shares of IBM (NYSE:IBM) in a research note issued to investors on Thursday, BenzingaRatingsTable reports. The firm issued a neutral rating and a $147.00 price target on the technology company’s stock.

Several other analysts have also commented on the stock. Zacks Investment Research lowered shares of HANNOVER RUECK/S from a hold rating to a sell rating in a research report on Monday, April 22nd. ValuEngine lowered shares of Zosano Pharma from a buy rating to a hold rating in a research report on Wednesday, May 1st. UBS Group set a $160.00 price target on shares of IBM and gave the company a buy rating in a research report on Wednesday, April 17th. Credit Suisse Group increased their price target on shares of Delta Air Lines from $37.00 to $68.00 and gave the company an outperform rating in a research report on Thursday, April 11th. Finally, BMO Capital Markets assumed coverage on shares of Yelp in a research report on Wednesday, April 17th. They issued an outperform rating on the stock. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. IBM currently has a consensus rating of Hold and an average target price of $155.65.

Shares of IBM opened at $149.68 on Thursday. The company has a quick ratio of 1.31, a current ratio of 1.83 and a debt-to-equity ratio of 3.51. The business’s 50-day moving average is $137.84. IBM has a twelve month low of $105.94 and a twelve month high of $154.36. The firm has a market capitalization of $132.71 billion, a price-to-earnings ratio of 10.84, a P/E/G ratio of 2.72 and a beta of 1.25.



IBM (NYSE:IBM) last issued its earnings results on Wednesday, July 17th. The technology company reported $3.17 earnings per share for the quarter, topping the consensus estimate of $3.06 by $0.11. IBM had a net margin of 11.22% and a return on equity of 69.56%. The company had revenue of $19.20 billion for the quarter, compared to analyst estimates of $19.20 billion. During the same period in the prior year, the business posted $3.08 earnings per share. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. Sell-side analysts predict that IBM will post 13.89 EPS for the current fiscal year.

In related news, SVP Kenneth M. Keverian sold 2,083 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $132.00, for a total transaction of $274,956.00. Following the transaction, the senior vice president now owns 34,465 shares of the company’s stock, valued at $4,549,380. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kenneth M. Keverian sold 2,690 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $135.50, for a total transaction of $364,495.00. Following the transaction, the senior vice president now directly owns 34,665 shares in the company, valued at approximately $4,697,107.50. The disclosure for this sale can be found here. Insiders sold 7,000 shares of company stock worth $940,430 over the last quarter. Company insiders own 0.19% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Halsey Associates Inc. CT grew its position in shares of IBM by 30.3% in the 4th quarter. Halsey Associates Inc. CT now owns 19,073 shares of the technology company’s stock worth $2,168,000 after buying an additional 4,434 shares during the last quarter. Sycomore Asset Management bought a new stake in shares of IBM in the 4th quarter worth approximately $81,000. Nalls Sherbakoff Group LLC bought a new stake in shares of IBM in the 4th quarter worth approximately $34,000. MUFG Securities EMEA plc grew its position in shares of IBM by 44.8% in the 4th quarter. MUFG Securities EMEA plc now owns 216,780 shares of the technology company’s stock worth $24,641,000 after buying an additional 67,055 shares during the last quarter. Finally, First American Bank grew its position in shares of IBM by 15.4% in the 1st quarter. First American Bank now owns 10,412 shares of the technology company’s stock worth $1,469,000 after buying an additional 1,392 shares during the last quarter. 55.19% of the stock is currently 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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