IBM (IBM) Earns “Neutral” Rating from Goldman Sachs Group

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IBM (NYSE:IBM)‘s stock had its “neutral” rating reissued by stock analysts at Goldman Sachs Group in a note issued to investors on Monday. They presently have a $155.00 price target on the technology company’s stock. Goldman Sachs Group’s target price would indicate a potential upside of 32.08% from the company’s current price.

Several other research firms also recently weighed in on IBM. Zacks Investment Research downgraded IBM from a “hold” rating to a “sell” rating in a report on Wednesday, October 3rd. Moffett Nathanson assumed coverage on IBM in a report on Thursday, October 4th. They issued a “sell” rating and a $150.00 price objective for the company. JPMorgan Chase & Co. reissued a “$149.24” rating and issued a $157.00 price objective on shares of IBM in a report on Thursday, July 19th. Societe Generale set a $149.00 price objective on IBM and gave the company a “sell” rating in a report on Thursday, July 19th. Finally, Wedbush reissued a “neutral” rating and issued a $185.00 price objective on shares of IBM in a report on Thursday, July 19th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $165.02.

IBM traded down $2.29 on Monday, reaching $117.35. The company’s stock had a trading volume of 6,900,261 shares, compared to its average volume of 6,726,987. The company has a market capitalization of $113.90 billion, a price-to-earnings ratio of 8.50, a price-to-earnings-growth ratio of 1.82 and a beta of 0.87. IBM has a fifty-two week low of $118.30 and a fifty-two week high of $171.13. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 1.81.

IBM (NYSE:IBM) last posted its quarterly earnings data on Tuesday, October 16th. The technology company reported $3.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.40 by $0.02. The business had revenue of $18.76 billion during the quarter, compared to the consensus estimate of $19.04 billion. IBM had a return on equity of 69.98% and a net margin of 7.12%. The company’s revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $3.30 earnings per share. On average, equities analysts anticipate that IBM will post 13.81 EPS for the current fiscal year.

In other news, insider Diane J. Gherson sold 11,451 shares of the company’s 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 sale, the insider now owns 19,114 shares in the company, valued at $2,779,557.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in IBM. Grassi Investment Management raised its stake in shares of IBM by 2.0% during the second quarter. Grassi Investment Management now owns 49,795 shares of the technology company’s stock worth $6,956,000 after purchasing an additional 965 shares during the last quarter. Argus Investors Counsel Inc. raised its stake in shares of IBM by 18.8% during the second quarter. Argus Investors Counsel Inc. now owns 27,425 shares of the technology company’s stock worth $3,831,000 after purchasing an additional 4,349 shares during the last quarter. Coastline Trust Co raised its stake in shares of IBM by 14.7% during the second quarter. Coastline Trust Co now owns 19,353 shares of the technology company’s stock worth $2,704,000 after purchasing an additional 2,475 shares during the last quarter. Tocqueville Asset Management L.P. raised its stake in shares of IBM by 4.3% during the second quarter. Tocqueville Asset Management L.P. now owns 205,622 shares of the technology company’s stock worth $28,725,000 after purchasing an additional 8,571 shares during the last quarter. Finally, Schroder Investment Management Group raised its stake in shares of IBM by 24.1% during the second quarter. Schroder Investment Management Group now owns 1,854,109 shares of the technology company’s stock worth $259,649,000 after purchasing an additional 359,868 shares during the last quarter. Institutional investors and hedge funds own 55.50% of the company’s stock.

IBM Company Profile

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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