Nomura Trims IBM (NYSE:IBM) Target Price to $170.00

IBM (NYSE:IBM) had its target price lowered by Nomura from $175.00 to $170.00 in a research report released on Thursday morning, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the technology company’s stock.

IBM has been the subject of a number of other reports. BMO Capital Markets reduced their price objective on shares of IBM from $157.00 to $152.00 and set a market perform rating for the company in a research note on Thursday. Bank of America increased their price objective on shares of IBM from $165.00 to $170.00 and gave the stock a buy rating in a research note on Monday, August 5th. Credit Suisse Group reissued a buy rating and issued a $173.00 price objective on shares of IBM in a research note on Friday, July 19th. KeyCorp reissued a hold rating on shares of IBM in a research note on Monday, August 26th. Finally, Tigress Financial restated a hold rating on shares of IBM in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the stock. IBM presently has a consensus rating of Hold and a consensus price target of $155.63.

Shares of NYSE IBM traded down $0.17 during midday trading on Thursday, reaching $134.09. The stock had a trading volume of 6,949,928 shares, compared to its average volume of 3,739,219. The stock has a 50-day moving average of $141.01 and a 200-day moving average of $139.35. The company has a debt-to-equity ratio of 3.40, a quick ratio of 1.79 and a current ratio of 1.09. The company has a market capitalization of $118.94 billion, a price-to-earnings ratio of 9.71, a price-to-earnings-growth ratio of 2.10 and a beta of 1.33. IBM has a 12-month low of $105.94 and a 12-month high of $152.95.

IBM (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 16th. The technology company reported $2.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.67 by $0.01. The firm had revenue of $18.03 billion during the quarter, compared to analysts’ expectations of $18.29 billion. IBM had a net margin of 10.00% and a return on equity of 67.12%. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the prior year, the company posted $3.42 earnings per share. As a group, analysts forecast that IBM will post 12.8 EPS for the current fiscal year.

Several large investors have recently modified their holdings of IBM. Marshall Wace LLP acquired a new position in IBM during the first quarter worth approximately $6,882,000. Amundi Pioneer Asset Management Inc. increased its position in IBM by 1.1% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 2,500,954 shares of the technology company’s stock worth $352,883,000 after buying an additional 27,813 shares during the last quarter. Swedbank increased its position in IBM by 10.7% during the second quarter. Swedbank now owns 1,554,671 shares of the technology company’s stock worth $214,389,000 after buying an additional 150,472 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in IBM by 0.6% during the second quarter. Crossmark Global Holdings Inc. now owns 59,319 shares of the technology company’s stock worth $8,180,000 after buying an additional 351 shares during the last quarter. Finally, Gantzert Investment Co. LLC ADV increased its position in IBM by 2.6% during the second quarter. Gantzert Investment Co. LLC ADV now owns 10,730 shares of the technology company’s stock worth $1,480,000 after buying an additional 275 shares during the last quarter. Hedge funds and other institutional investors own 55.41% of the company’s stock.

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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