IBM (NYSE:IBM)‘s stock had its “buy” rating restated by Credit Suisse Group in a report released on Friday, AnalystRatings.com reports. They presently have a $173.00 target price on the technology company’s stock. Credit Suisse Group’s price objective indicates a potential upside of 15.58% from the company’s current price.
A number of other equities analysts have also commented on IBM. JPMorgan Chase & Co. lowered News from a “neutral” rating to an “underweight” rating in a report on Thursday. Citigroup cut their price target on UnitedHealth Group from $288.00 to $247.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. ValuEngine lowered Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Evercore ISI started coverage on Sensata Technologies in a report on Wednesday, June 5th. They issued an “in-line” rating and a $50.00 price target for the company. Finally, UBS Group set a $160.00 price target on IBM and gave the stock a “buy” rating in a report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. IBM presently has an average rating of “Hold” and an average target price of $155.65.
IBM stock opened at $149.68 on Friday. IBM has a one year low of $105.94 and a one year high of $154.36. The stock has a fifty day moving average of $137.84. 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 company 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.
In related news, SVP Kenneth M. Keverian sold 2,083 shares of the stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Kenneth M. Keverian sold 2,227 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $135.15, for a total value of $300,979.05. Following the completion of the sale, the senior vice president now owns 32,878 shares in the company, valued at approximately $4,443,461.70. The disclosure for this sale can be found here. Insiders sold 7,000 shares of company stock worth $940,430 in the last quarter. 0.19% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IBM. Swedbank raised its position in IBM by 21.1% during the first quarter. Swedbank now owns 1,404,199 shares of the technology company’s stock valued at $198,132,000 after purchasing an additional 244,949 shares in the last quarter. OLD Republic International Corp raised its position in IBM by 14.4% during the first 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 in the last quarter. MUFG Securities EMEA plc raised its position in IBM by 44.8% during the fourth quarter. MUFG Securities EMEA plc now owns 216,780 shares of the technology company’s stock valued at $24,641,000 after purchasing an additional 67,055 shares in the last quarter. Joseph P. Lucia & Associates LLC purchased a new stake in IBM during the first quarter valued at about $415,000. Finally, Marshall Wace LLP purchased a new stake in IBM during the first quarter valued at about $6,882,000. Institutional investors and hedge funds own 55.19% of the company’s stock.
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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