International Business Machines Corporation (NYSE:IBM) Upgraded to Buy at Vetr Inc.

International Business Machines Corporation (NYSE:IBM) was upgraded by investment analysts at Vetr from a “hold” rating to a “buy” rating in a report issued on Monday, July 31st. The brokerage presently has a $150.68 target price on the technology company’s stock. Vetr‘s price objective suggests a potential upside of 6.23% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the company. BidaskClub cut International Business Machines Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. UBS AG restated a “neutral” rating and set a $159.00 price objective (down previously from $167.00) on shares of International Business Machines Corporation in a report on Saturday, July 22nd. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $160.00 target price (down from $165.00) on shares of International Business Machines Corporation in a research report on Saturday, July 22nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $192.00 target price (down from $212.00) on shares of International Business Machines Corporation in a research report on Saturday, July 22nd. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $168.00 target price (down from $170.00) on shares of International Business Machines Corporation in a research report on Saturday, July 22nd. Seven research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $157.40.

International Business Machines Corporation (IBM) remained flat at $141.84 during trading on Monday. The company’s stock had a trading volume of 3,004,360 shares. The firm has a 50 day moving average of $149.20 and a 200 day moving average of $162.50. The stock has a market cap of $132.19 billion, a P/E ratio of 11.77 and a beta of 0.97. International Business Machines Corporation has a 1-year low of $141.19 and a 1-year high of $182.79.

International Business Machines Corporation (NYSE:IBM) last posted its quarterly earnings data on Tuesday, July 18th. The technology company reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.74 by $0.23. International Business Machines Corporation had a return on equity of 71.53% and a net margin of 14.58%. The business had revenue of $19.29 billion for the quarter, compared to analysts’ expectations of $19.45 billion. During the same quarter last year, the firm earned $2.95 earnings per share. The business’s revenue was down 4.7% on a year-over-year basis. On average, analysts forecast that International Business Machines Corporation will post $13.74 EPS for the current year.

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In related news, Director James W. Owens bought 1,718 shares of the firm’s stock in a transaction on Tuesday, May 16th. The stock was bought at an average cost of $153.19 per share, for a total transaction of $263,180.42. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.23% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Bancorpsouth Inc. increased its position in shares of International Business Machines Corporation by 3.0% in the second quarter. Bancorpsouth Inc. now owns 20,879 shares of the technology company’s stock worth $3,212,000 after buying an additional 614 shares during the last quarter. Waters Parkerson & CO. LLC increased its position in shares of International Business Machines Corporation by 5.6% in the second quarter. Waters Parkerson & CO. LLC now owns 51,644 shares of the technology company’s stock worth $7,944,000 after buying an additional 2,747 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of International Business Machines Corporation by 10.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,505,044 shares of the technology company’s stock worth $385,360,000 after buying an additional 246,913 shares during the last quarter. Virtu KCG Holdings LLC increased its position in shares of International Business Machines Corporation by 72.7% in the second quarter. Virtu KCG Holdings LLC now owns 35,902 shares of the technology company’s stock worth $5,523,000 after buying an additional 15,119 shares during the last quarter. Finally, Ropes Wealth Advisors LLC increased its position in shares of International Business Machines Corporation by 17.3% in the second quarter. Ropes Wealth Advisors LLC now owns 50,223 shares of the technology company’s stock worth $7,726,000 after buying an additional 7,409 shares during the last quarter. Institutional investors own 58.73% of the company’s stock.

International Business Machines Corporation Company Profile

International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for International Business Machines Corporation (NYSE:IBM)

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