IBM (NYSE:IBM) Price Target Raised to $165.00 at Nomura

IBM (NYSE:IBM) had its price target hoisted by Nomura from $160.00 to $165.00 in a report released on Thursday morning, The Fly reports. Nomura currently has a buy rating on the technology company’s stock.

A number of other equities analysts also recently commented on IBM. BMO Capital Markets assumed coverage on Yelp in a report on Wednesday, April 17th. They issued an outperform rating on the stock. JPMorgan Chase & Co. downgraded News from a neutral rating to an underweight rating in a report on Thursday. Evercore ISI assumed coverage on Sensata Technologies in a report on Wednesday, June 5th. They set an in-line rating and a $50.00 target price on the stock. UBS Group set a $160.00 target price on IBM and gave the company a buy rating in a report on Wednesday, April 17th. Finally, Credit Suisse Group raised their target price on Delta Air Lines from $37.00 to $68.00 and gave the company an outperform rating in a report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $155.65.

IBM stock opened at $149.68 on Thursday. The stock has a 50-day moving average price of $137.84. The stock has a market cap of $132.71 billion, a P/E ratio of 10.84, a price-to-earnings-growth ratio of 2.55 and a beta of 1.25. The company has a current ratio of 1.83, a quick ratio of 1.79 and a debt-to-equity ratio of 3.51. IBM has a 12 month low of $105.94 and a 12 month high of $154.36.



IBM (NYSE:IBM) last released its quarterly earnings data on Wednesday, July 17th. The technology company reported $3.17 EPS for the quarter, topping analysts’ consensus estimates of $3.06 by $0.11. The company had revenue of $19.20 billion for the quarter, compared to the consensus estimate of $19.20 billion. IBM had a return on equity of 69.56% and a net margin of 11.22%. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period last year, the business posted $3.08 EPS. Analysts expect that IBM will post 13.89 EPS for the current fiscal year.

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

Hedge funds have recently bought and sold shares of the business. Amundi Pioneer Asset Management Inc. grew its position in shares of IBM by 1.1% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 2,500,954 shares of the technology company’s stock worth $352,883,000 after acquiring an additional 27,813 shares in the last quarter. Swedbank grew its position in shares of IBM by 10.7% in the 2nd quarter. Swedbank now owns 1,554,671 shares of the technology company’s stock worth $214,389,000 after acquiring an additional 150,472 shares in the last quarter. OLD Republic International Corp boosted its position in IBM by 14.4% during the 1st quarter. OLD Republic International Corp now owns 572,000 shares of the technology company’s stock valued at $80,709,000 after purchasing an additional 72,000 shares during the period. MUFG Securities EMEA plc raised its stake in IBM by 44.8% during the 4th quarter. MUFG Securities EMEA plc now owns 216,780 shares of the technology company’s stock valued at $24,641,000 after acquiring an additional 67,055 shares in the last quarter. Finally, Azimuth Capital Management LLC raised its stake in IBM by 10.3% during the 1st quarter. Azimuth Capital Management LLC now owns 160,424 shares of the technology company’s stock valued at $22,636,000 after acquiring an additional 14,930 shares in the last quarter. Institutional investors own 55.18% of the company’s stock.

About IBM

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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