International Business Machines (NYSE:IBM) Downgraded by ValuEngine to “Sell”

Barney Wallcott / October 23,2020

IBM) Downgraded by ValuEngine to “Sell”ValuEngine downgraded shares of International Business Machines (NYSE:IBM) from a hold rating to a sell rating in a research note published on Wednesday, ValuEngine reports.

IBM has been the subject of several other reports. Credit Suisse Group increased their price target on International Business Machines from $150.00 to $155.00 and gave the stock an outperform rating in a report on Tuesday, July 21st. Wells Fargo & Company increased their price target on International Business Machines from $120.00 to $130.00 and gave the stock a hold rating in a report on Tuesday, July 21st. Morgan Stanley increased their price target on International Business Machines from $128.00 to $140.00 and gave the stock an equal weight rating in a report on Friday, October 9th. Argus upgraded International Business Machines from a hold rating to a buy rating and set a $155.00 price target for the company in a report on Wednesday, July 22nd. Finally, Wedbush restated a neutral rating on shares of International Business Machines in a report on Thursday, July 16th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $139.06.

NYSE IBM opened at $116.00 on Wednesday. The stock has a 50-day simple moving average of $122.46 and a 200 day simple moving average of $122.60. The company has a market capitalization of $103.31 billion, a PE ratio of 13.14, a P/E/G ratio of 3.46 and a beta of 1.16. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 2.68. International Business Machines has a 12 month low of $90.56 and a 12 month high of $158.75.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Monday, October 19th. The technology company reported $2.58 EPS for the quarter, meeting analysts’ consensus estimates of $2.58. The business had revenue of $17.56 billion during the quarter, compared to the consensus estimate of $17.56 billion. International Business Machines had a return on equity of 49.12% and a net margin of 10.53%. The firm’s revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.68 earnings per share. As a group, sell-side analysts predict that International Business Machines will post 10.94 earnings per share for the current fiscal year.

In other International Business Machines news, SVP Diane J. Gherson sold 1,215 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $127.00, for a total value of $154,305.00. Following the sale, the senior vice president now owns 30,597 shares in the company, valued at $3,885,819. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Diane J. Gherson sold 1,176 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $126.73, for a total value of $149,034.48. Following the completion of the sale, the senior vice president now owns 31,767 shares in the company, valued at approximately $4,025,831.91. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. LSV Asset Management raised its stake in International Business Machines by 4.7% in the third quarter. LSV Asset Management now owns 3,298,009 shares of the technology company’s stock valued at $401,268,000 after buying an additional 148,686 shares during the period. Bessemer Group Inc. raised its stake in International Business Machines by 3.2% in the second quarter. Bessemer Group Inc. now owns 985,759 shares of the technology company’s stock valued at $119,048,000 after buying an additional 30,225 shares during the period. Fort Washington Investment Advisors Inc. OH raised its stake in International Business Machines by 2.5% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 726,451 shares of the technology company’s stock valued at $87,733,000 after buying an additional 17,929 shares during the period. Retirement Systems of Alabama raised its stake in International Business Machines by 73.6% in the third quarter. Retirement Systems of Alabama now owns 658,945 shares of the technology company’s stock valued at $80,174,000 after buying an additional 279,308 shares during the period. Finally, Douglas Lane & Associates LLC raised its stake in International Business Machines by 10.3% in the third quarter. Douglas Lane & Associates LLC now owns 471,442 shares of the technology company’s stock valued at $57,360,000 after buying an additional 44,064 shares during the period. Hedge funds and other institutional investors own 56.11% of the company’s stock.

About International Business Machines

International Business Machines Corporation operates as an integrated solutions and services company worldwide. Its Cloud & Cognitive Software segment offers software for vertical and domain-specific solutions in health, financial services, and Internet of Things (IoT), weather, and security software and services application areas; and customer information control system and storage, and analytics and integration software solutions to support client mission critical on-premise workloads in banking, airline, and retail industries.

 

 

 

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