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.

IBM (NYSE:IBM) last posted its earnings results on Tuesday, October 16th. The technology company reported $3.42 earnings per share for the quarter, topping analysts’ consensus estimates of $3.40 by $0.02. The company had revenue of $18.76 billion during the quarter, compared to analyst estimates of $19.04 billion. IBM had a return on equity of 69.98% and a net margin of 7.12%. IBM’s revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.30 earnings per share. Equities analysts expect that IBM will post 13.82 earnings per share for the current year.

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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Analyst Recommendations for IBM (NYSE:IBM)

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