Wedbush Lowers IBM (IBM) Price Target to $165.00

IBM (NYSE:IBM) had its price objective cut by equities research analysts at Wedbush from $185.00 to $165.00 in a research note issued on Thursday, The Fly reports. The firm presently has a “neutral” rating on the technology company’s stock. Wedbush’s price objective suggests a potential upside of 27.81% from the stock’s previous close. Wedbush also issued estimates for IBM’s Q4 2018 earnings at $4.85 EPS.

Several other research analysts have also recently issued reports on the company. UBS Group upgraded IBM from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $160.00 to $180.00 in a research note on Wednesday, September 26th. Zacks Investment Research cut IBM from a “buy” rating to a “hold” rating in a research note on Wednesday, September 19th. Stifel Nicolaus reduced their price objective on IBM from $182.00 to $178.00 and set a “buy” rating for the company in a research note on Thursday, July 19th. ValuEngine upgraded IBM from a “sell” rating to a “hold” rating in a research note on Thursday, July 19th. Finally, Moffett Nathanson started coverage on IBM in a research note on Thursday, October 4th. They issued a “sell” rating and a $150.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the company’s stock. IBM has an average rating of “Hold” and an average price target of $167.39.

Shares of NYSE IBM opened at $129.10 on Thursday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.31 and a quick ratio of 1.27. The stock has a market capitalization of $119.16 billion, a price-to-earnings ratio of 9.36, a price-to-earnings-growth ratio of 1.90 and a beta of 0.87. IBM has a fifty-two week low of $127.96 and a fifty-two week high of $171.13.

IBM (NYSE:IBM) last issued its quarterly earnings results on Tuesday, October 16th. The technology company reported $3.42 earnings per share for the quarter, topping the consensus estimate of $3.40 by $0.02. IBM had a return on equity of 69.98% and a net margin of 7.12%. The business had revenue of $18.76 billion during the quarter, compared to the consensus estimate of $19.04 billion. During the same quarter last year, the company earned $3.30 earnings per share. The company’s quarterly revenue was down 2.1% on a year-over-year basis. On average, equities analysts anticipate that IBM will post 13.82 earnings per share for the current year.

In related news, insider Diane J. Gherson sold 11,451 shares of IBM stock in a transaction that occurred on Friday, August 3rd. The stock was 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.17% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the company. Swedbank increased its position in shares of IBM by 214.6% in the third quarter. Swedbank now owns 1,123,724 shares of the technology company’s stock valued at $169,918,000 after buying an additional 766,478 shares in the last quarter. Coastline Trust Co increased its position in shares of 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. Schroder Investment Management Group increased its position in shares of 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. Adams Asset Advisors LLC increased its position in shares of IBM by 14.0% in the third quarter. Adams Asset Advisors LLC now owns 48,705 shares of the technology company’s stock valued at $7,364,000 after buying an additional 5,970 shares in the last quarter. Finally, Berkshire Asset Management LLC PA increased its position in shares of IBM by 2.4% in the third quarter. Berkshire Asset Management LLC PA now owns 20,690 shares of the technology company’s stock valued at $3,129,000 after buying an additional 481 shares in the last quarter. Institutional investors and hedge funds own 55.42% 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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