IBM (IBM) Price Target Lowered to $140.00 at Cantor Fitzgerald
IBM (NYSE:IBM) had its price target trimmed by Cantor Fitzgerald from $152.00 to $140.00 in a research report sent to investors on Wednesday, The Fly reports. The firm currently has a neutral rating on the technology company’s stock. Cantor Fitzgerald also issued estimates for IBM’s FY2019 earnings at $13.96 EPS.
Several other brokerages have also commented on IBM. Societe Generale set a $149.00 price objective on IBM and gave the company a sell rating in a report on Thursday, July 19th. Wedbush reiterated a neutral rating and set a $185.00 price objective on shares of IBM in a report on Thursday, July 19th. Nomura initiated coverage on IBM in a report on Wednesday, June 27th. They set a buy rating and a $160.00 price objective for the company. JPMorgan Chase & Co. reiterated a $149.24 rating and set a $157.00 price objective on shares of IBM in a report on Thursday, July 19th. Finally, BMO Capital Markets decreased their price objective on IBM from $175.00 to $172.00 and set a $149.24 rating for the company 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 given a buy rating to the company. The company has an average rating of Hold and an average target price of $167.39.
IBM stock traded down $1.45 during mid-day trading on Wednesday, reaching $129.10. 7,720,962 shares of the company were exchanged, compared to its average volume of 6,628,948. The company has a quick ratio of 1.27, a current ratio of 1.31 and a debt-to-equity ratio of 1.81. The firm has a market cap of $119.16 billion, a P/E ratio of 9.36, a P/E/G ratio of 1.90 and a beta of 0.87. IBM has a 12-month low of $127.96 and a 12-month high of $171.13.
In related news, insider Diane J. Gherson sold 11,451 shares of the company’s stock in a transaction on Friday, August 3rd. The stock was sold at an average price of $145.42, for a total value of $1,665,204.42. Following the transaction, the insider now directly owns 19,114 shares of the company’s stock, valued at approximately $2,779,557.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.17% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in IBM. Swedbank grew its position in IBM by 214.6% during the 3rd quarter. Swedbank now owns 1,123,724 shares of the technology company’s stock worth $169,918,000 after purchasing an additional 766,478 shares during the period. Schroder Investment Management Group grew its position in IBM by 24.1% during the 2nd 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 period. Aperio Group LLC grew its position in IBM by 9.0% during the 3rd quarter. Aperio Group LLC now owns 454,228 shares of the technology company’s stock worth $68,684,000 after purchasing an additional 37,393 shares during the period. Nisa Investment Advisors LLC grew its position in IBM by 3.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 320,951 shares of the technology company’s stock worth $48,531,000 after purchasing an additional 11,129 shares during the period. Finally, Tocqueville Asset Management L.P. grew its position in IBM by 4.3% during the 2nd 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 period. 55.42% of the stock is currently owned by institutional investors.
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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