BNP Paribas Initiates Coverage on International Business Machines (NYSE:IBM)

Analysts at BNP Paribas assumed coverage on shares of International Business Machines (NYSE:IBM) in a note issued to investors on Thursday, Marketbeat Ratings reports. The firm set an “underperform” rating and a $145.00 price target on the technology company’s stock. BNP Paribas’ target price indicates a potential downside of 12.50% from the stock’s current price.

A number of other equities research analysts have also weighed in on IBM. Societe Generale restated a “sell” rating and set a $143.00 price objective on shares of International Business Machines in a research note on Friday, January 5th. Jefferies Financial Group decreased their price target on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a research report on Tuesday, April 23rd. Bank of America upped their price target on shares of International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Evercore ISI raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $165.00 to $200.00 in a report on Friday, January 19th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $190.00 target price on shares of International Business Machines in a research note on Wednesday, April 17th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $181.29.

International Business Machines Stock Up 0.6 %

Shares of NYSE:IBM traded up $1.02 during midday trading on Thursday, hitting $165.71. 3,400,405 shares of the company’s stock traded hands, compared to its average volume of 4,768,629. International Business Machines has a twelve month low of $120.55 and a twelve month high of $199.18. The company has a market cap of $152.22 billion, a PE ratio of 18.77, a P/E/G ratio of 4.05 and a beta of 0.74. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13. The firm’s fifty day moving average price is $185.75 and its two-hundred day moving average price is $171.01.

International Business Machines (NYSE:IBM) last issued its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.09. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The company’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.36 earnings per share. On average, equities research analysts anticipate that International Business Machines will post 9.92 EPS for the current fiscal year.

Institutional Trading of International Business Machines

A number of large investors have recently modified their holdings of IBM. Desjardins Global Asset Management Inc. increased its stake in International Business Machines by 1.4% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 3,940 shares of the technology company’s stock valued at $644,000 after buying an additional 54 shares during the period. Arden Trust Co increased its holdings in shares of International Business Machines by 2.8% in the 1st quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock valued at $377,000 after purchasing an additional 54 shares during the period. Calamos Wealth Management LLC increased its stake in International Business Machines by 2.8% in the 4th quarter. Calamos Wealth Management LLC now owns 2,007 shares of the technology company’s stock valued at $328,000 after buying an additional 55 shares during the period. Avion Wealth raised its holdings in shares of International Business Machines by 6.2% during the fourth quarter. Avion Wealth now owns 964 shares of the technology company’s stock worth $158,000 after acquiring an additional 56 shares in the last quarter. Finally, Chicago Partners Investment Group LLC lifted its holdings in shares of International Business Machines by 0.8% during the 4th quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock valued at $1,309,000 after buying an additional 58 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Company Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.