International Business Machines Co. (NYSE:IBM – Get Rating) – Equities research analysts at Wedbush cut their FY2023 earnings per share (EPS) estimates for International Business Machines in a research report issued to clients and investors on Tuesday, July 12th. Wedbush analyst M. Katri now forecasts that the technology company will earn $10.58 per share for the year, down from their prior estimate of $11.57. The consensus estimate for International Business Machines’ current full-year earnings is $9.89 per share.
A number of other brokerages also recently commented on IBM. Morgan Stanley upped their target price on International Business Machines from $150.00 to $157.00 and gave the company an “overweight” rating in a report on Wednesday, April 20th. BMO Capital Markets upped their target price on International Business Machines from $148.00 to $152.00 and gave the company a “market perform” rating in a report on Wednesday, April 20th. Bank of America upped their target price on International Business Machines from $162.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, April 20th. Credit Suisse Group increased their price objective on International Business Machines from $165.00 to $166.00 and gave the stock an “outperform” rating in a report on Wednesday, April 20th. Finally, StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $147.25.
Shares of International Business Machines stock opened at $139.06 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.92 and a debt-to-equity ratio of 2.44. The company has a market cap of $125.08 billion, a PE ratio of 22.80, a P/E/G ratio of 1.58 and a beta of 0.93. The business has a 50 day moving average of $137.39 and a 200 day moving average of $133.13. International Business Machines has a 52 week low of $114.56 and a 52 week high of $146.00. International Business Machines (NYSE:IBM – Get Rating) last released its quarterly earnings data on Tuesday, April 19th. The technology company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The firm had revenue of $14.20 billion during the quarter, compared to analyst estimates of $13.84 billion. International Business Machines had a return on equity of 42.14% and a net margin of 8.21%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.77 earnings per share.
Several institutional investors have recently added to or reduced their stakes in the stock. Duff & Phelps Investment Management Co. boosted its position in shares of International Business Machines by 0.8% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 9,330 shares of the technology company’s stock valued at $1,247,000 after buying an additional 76 shares during the last quarter. Cranbrook Wealth Management LLC boosted its position in International Business Machines by 1.5% in the first quarter. Cranbrook Wealth Management LLC now owns 5,264 shares of the technology company’s stock worth $685,000 after purchasing an additional 76 shares during the last quarter. SJS Investment Consulting Inc. boosted its position in International Business Machines by 39.9% in the first quarter. SJS Investment Consulting Inc. now owns 270 shares of the technology company’s stock worth $35,000 after purchasing an additional 77 shares during the last quarter. Rossmore Private Capital boosted its position in International Business Machines by 1.2% in the fourth quarter. Rossmore Private Capital now owns 6,418 shares of the technology company’s stock worth $858,000 after purchasing an additional 78 shares during the last quarter. Finally, Atlas Capital Advisors LLC boosted its position in International Business Machines by 3.4% in the first quarter. Atlas Capital Advisors LLC now owns 2,375 shares of the technology company’s stock worth $309,000 after purchasing an additional 78 shares during the last quarter. 55.22% of the stock is currently owned by institutional investors.
International Business Machines Insider Activity
In other news, major shareholder Business Machine International sold 22,301,536 shares of the firm’s stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $13.95, for a total transaction of $311,106,427.20. Following the completion of the transaction, the insider now directly owns 22,301,536 shares in the company, valued at $311,106,427.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.04% of the company’s stock.
The business also recently declared a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Tuesday, May 10th were issued a dividend of $1.65 per share. The ex-dividend date was Monday, May 9th. This is an increase from International Business Machines’s previous quarterly dividend of $1.64. This represents a $6.60 annualized dividend and a dividend yield of 4.75%. International Business Machines’s dividend payout ratio (DPR) is presently 108.20%.
About International Business Machines (Get Rating)
International Business Machines Corporation provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions, such as Red Hat, an enterprise open-source solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.
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