International Business Machines Corporation (NYSE:IBM) Given “Neutral” Rating at Goldman Sachs Group, Inc. (The)

Goldman Sachs Group, Inc. (The) restated their neutral rating on shares of International Business Machines Corporation (NYSE:IBM) in a report published on Saturday, July 22nd. Goldman Sachs Group, Inc. (The) currently has a $168.00 target price on the technology company’s stock, down from their prior target price of $170.00.

Several other research firms also recently issued reports on IBM. Sanford C. Bernstein reissued a neutral rating and issued a $150.00 price target on shares of International Business Machines Corporation in a research note on Monday, May 15th. Vetr raised International Business Machines Corporation from a sell rating to a hold rating and set a $147.02 target price on the stock in a research report on Wednesday, June 7th. Credit Suisse Group reaffirmed an underperform rating and issued a $110.00 target price (down previously from $125.00) on shares of International Business Machines Corporation in a research report on Monday, July 17th. Stifel Nicolaus reaffirmed a buy rating and issued a $182.00 target price on shares of International Business Machines Corporation in a research report on Friday, June 9th. Finally, TheStreet downgraded International Business Machines Corporation to a hold rating in a research report on Friday, April 21st. Seven investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $157.40.

Shares of International Business Machines Corporation (NYSE IBM) traded down 0.71% on Friday, hitting $139.70. The stock had a trading volume of 4,152,714 shares. The firm has a market cap of $130.19 billion, a P/E ratio of 11.59 and a beta of 0.97. International Business Machines Corporation has a 12-month low of $139.58 and a 12-month high of $182.79. The company’s 50-day moving average price is $147.30 and its 200 day moving average price is $161.22.

International Business Machines Corporation (NYSE:IBM) last released its quarterly earnings results on Tuesday, July 18th. The technology company reported $2.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.74 by $0.23. International Business Machines Corporation had a return on equity of 71.53% and a net margin of 14.58%. The firm had revenue of $19.29 billion for the quarter, compared to the consensus estimate of $19.45 billion. During the same quarter last year, the business posted $2.95 EPS. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. On average, equities research analysts forecast that International Business Machines Corporation will post $13.77 earnings per share for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Saturday, September 9th. Shareholders of record on Thursday, August 10th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $6.00 annualized dividend and a yield of 4.29%. International Business Machines Corporation’s dividend payout ratio is currently 49.88%.

Several hedge funds and other institutional investors have recently made changes to their positions in IBM. Herndon Capital Management LLC increased its position in shares of International Business Machines Corporation by 39.0% in the second quarter. Herndon Capital Management LLC now owns 695 shares of the technology company’s stock valued at $107,000 after buying an additional 195 shares during the period. Thomas J. Herzfeld Advisors Inc. bought a new position in shares of International Business Machines Corporation during the fourth quarter valued at about $117,000. Jackson Grant Investment Advisers Inc. increased its position in shares of International Business Machines Corporation by 0.8% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 737 shares of the technology company’s stock valued at $122,000 after buying an additional 6 shares during the period. Edge Wealth Management LLC increased its position in shares of International Business Machines Corporation by 5.6% in the second quarter. Edge Wealth Management LLC now owns 760 shares of the technology company’s stock valued at $117,000 after buying an additional 40 shares during the period. Finally, ETF Managers Group LLC bought a new position in shares of International Business Machines Corporation during the second quarter valued at about $121,000. Institutional investors own 58.57% of the company’s stock.

International Business Machines Corporation Company Profile

International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.

Analyst Recommendations for International Business Machines Corporation (NYSE:IBM)

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