JPMorgan Chase & Co. Reiterates “Neutral” Rating for IBM (IBM)

IBM (NYSE:IBM)‘s stock had its “neutral” rating reiterated by investment analysts at JPMorgan Chase & Co. in a research note issued to investors on Wednesday. They currently have a $160.00 target price on the technology company’s stock. JPMorgan Chase & Co.’s price target points to a potential upside of 22.56% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley lowered their price objective on shares of IBM from $198.00 to $185.00 and set a “$149.24” rating for the company in a research note on Thursday, July 19th. BMO Capital Markets lowered their price objective on shares of IBM from $175.00 to $172.00 and set a “$149.24” rating for the company in a research note on Thursday, July 19th. Zacks Investment Research upgraded shares of IBM from a “hold” rating to a “buy” rating and set a $166.00 price objective for the company in a research note on Tuesday, September 18th. Bank of America restated a “buy” rating and set a $200.00 target price on shares of IBM in a research report on Thursday, July 19th. Finally, Stifel Nicolaus decreased their target price on shares of IBM from $182.00 to $178.00 and set a “buy” rating for the company in a research report on Thursday, July 19th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the stock. IBM has an average rating of “Hold” and a consensus price target of $167.39.

NYSE:IBM opened at $130.55 on Wednesday. IBM has a 12 month low of $130.04 and a 12 month high of $171.13. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.32 and a quick ratio of 1.27. The firm has a market cap of $138.02 billion, a PE ratio of 9.46, a P/E/G ratio of 2.20 and a beta of 0.87.

IBM (NYSE:IBM) last posted its quarterly earnings data on Tuesday, October 16th. The technology company reported $3.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.40 by $0.02. IBM had a net margin of 7.13% and a return on equity of 69.84%. The business had revenue of $18.76 billion during the quarter, compared to the consensus estimate of $19.04 billion. During the same period in the previous year, the firm posted $3.30 earnings per share. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. On average, equities analysts predict that IBM will post 13.82 EPS for the current year.

In related news, insider Diane J. Gherson sold 11,451 shares of the business’s stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $145.42, for a total transaction of $1,665,204.42. Following the completion of the transaction, the insider now directly owns 19,114 shares in the company, valued at $2,779,557.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.17% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of IBM. Grassi Investment Management increased its holdings in IBM by 2.0% in the second quarter. Grassi Investment Management now owns 49,795 shares of the technology company’s stock valued at $6,956,000 after buying an additional 965 shares in the last quarter. Argus Investors Counsel Inc. increased its holdings in IBM by 18.8% in the second quarter. Argus Investors Counsel Inc. now owns 27,425 shares of the technology company’s stock valued at $3,831,000 after buying an additional 4,349 shares in the last quarter. Coastline Trust Co increased its holdings in IBM by 14.7% in the second quarter. Coastline Trust Co now owns 19,353 shares of the technology company’s stock valued at $2,704,000 after buying an additional 2,475 shares in the last quarter. Tocqueville Asset Management L.P. increased its holdings in IBM by 4.3% in the second quarter. Tocqueville Asset Management L.P. now owns 205,622 shares of the technology company’s stock valued at $28,725,000 after buying an additional 8,571 shares in the last quarter. Finally, Schroder Investment Management Group increased its holdings in IBM by 24.1% in the second quarter. Schroder Investment Management Group now owns 1,854,109 shares of the technology company’s stock valued at $259,649,000 after buying an additional 359,868 shares in the last quarter. Institutional investors own 55.39% of the company’s stock.

About IBM

International Business Machines Corporation operates as an integrated technology and services company worldwide. Its Cognitive Solutions segment offers Watson, a cognitive computing platform that interacts in natural language, processes big data, and learns from interactions with people and computers.

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