Drexel Hamilton Reiterates “Buy” Rating for International Business Machines Corporation (NYSE:IBM)

International Business Machines Corporation (NYSE:IBM)‘s stock had its “buy” rating reiterated by equities researchers at Drexel Hamilton in a report released on Tuesday, October 17th. They presently have a $200.00 target price on the technology company’s stock. Drexel Hamilton’s price objective would indicate a potential upside of 30.21% from the company’s previous close.

A number of other equities analysts have also recently weighed in on IBM. Vetr raised International Business Machines Corporation from a “sell” rating to a “hold” rating and set a $150.26 price target for the company in a report on Monday, June 19th. Cleveland Research initiated coverage on International Business Machines Corporation in a report on Thursday, June 22nd. They issued a “neutral” rating for the company. Royal Bank Of Canada reissued a “hold” rating and issued a $165.00 price target on shares of International Business Machines Corporation in a report on Wednesday, July 12th. Jefferies Group LLC reiterated an “underperform” rating and issued a $125.00 target price (down from $135.00) on shares of International Business Machines Corporation in a research note on Wednesday, July 12th. Finally, Guggenheim reiterated a “hold” rating on shares of International Business Machines Corporation in a research note on Friday, July 14th. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and ten have given a buy rating to the stock. International Business Machines Corporation currently has an average rating of “Hold” and a consensus price target of $158.90.

Shares of International Business Machines Corporation (NYSE IBM) traded down 0.03% during mid-day trading on Tuesday, hitting $153.56. The company’s stock had a trading volume of 1,881,041 shares. International Business Machines Corporation has a 12-month low of $139.13 and a 12-month high of $182.79. The stock has a 50-day moving average of $147.94 and a 200-day moving average of $150.82. The company has a market cap of $142.72 billion, a PE ratio of 12.81 and a beta of 0.95.

International Business Machines Corporation (NYSE:IBM) last released its quarterly earnings results on Tuesday, October 17th. The technology company reported $3.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.28 by $0.02. International Business Machines Corporation had a return on equity of 68.68% and a net margin of 14.43%. The company had revenue of $19.15 billion during the quarter, compared to analysts’ expectations of $18.63 billion. During the same period in the previous year, the firm posted $3.29 earnings per share. The business’s revenue for the quarter was down .4% compared to the same quarter last year. On average, equities research analysts forecast that International Business Machines Corporation will post $13.80 EPS for the current year.

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Hedge funds and other institutional investors have recently modified their holdings of the business. Herndon Capital Management LLC boosted its stake in International Business Machines Corporation by 39.0% during the 2nd quarter. Herndon Capital Management LLC now owns 695 shares of the technology company’s stock valued at $107,000 after purchasing an additional 195 shares in the last quarter. Edge Wealth Management LLC boosted its stake in International Business Machines Corporation by 5.6% during the 2nd quarter. Edge Wealth Management LLC now owns 760 shares of the technology company’s stock valued at $117,000 after purchasing an additional 40 shares in the last quarter. ETF Managers Group LLC bought a new position in International Business Machines Corporation during the 2nd quarter valued at $121,000. Peddock Capital Advisors LLC boosted its stake in International Business Machines Corporation by 7.3% during the 2nd quarter. Peddock Capital Advisors LLC now owns 912 shares of the technology company’s stock valued at $140,000 after purchasing an additional 62 shares in the last quarter. Finally, Horan Securities Inc. boosted its stake in International Business Machines Corporation by 845.5% during the 2nd quarter. Horan Securities Inc. now owns 936 shares of the technology company’s stock valued at $144,000 after purchasing an additional 837 shares in the last quarter. 57.83% of the stock is owned by hedge funds and other institutional investors.

About International Business Machines Corporation

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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