ValuEngine cut shares of IBM (NYSE:IBM) from a hold rating to a sell rating in a research report report published on Wednesday.

A number of other research firms have also recently weighed in on IBM. Societe Generale set a $149.00 price objective on shares of IBM and gave the company a sell rating in a report on Thursday, July 19th. Wedbush reaffirmed a neutral rating and issued a $185.00 price objective on shares of IBM in a report on Thursday, July 19th. Nomura started coverage on shares of IBM in a report on Wednesday, June 27th. They issued a buy rating and a $160.00 price objective for the company. JPMorgan Chase & Co. reaffirmed a $149.24 rating and issued a $157.00 price objective on shares of IBM in a report on Thursday, July 19th. Finally, BMO Capital Markets cut their price objective on shares of 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 assigned a hold rating and ten have assigned a buy rating to the company. IBM currently has an average rating of Hold and an average price target of $167.39.

NYSE IBM traded down $1.45 on Wednesday, reaching $129.10. 7,720,962 shares of the company’s stock traded hands, compared to its average volume of 6,628,948. The company has a market capitalization of $119.16 billion, a PE ratio of 9.36, a P/E/G ratio of 1.90 and a beta of 0.87. IBM has a fifty-two week low of $127.96 and a fifty-two week high of $171.13. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.31 and a quick ratio of 1.27.

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

In other news, insider Diane J. Gherson sold 11,451 shares of the business’s stock in a transaction dated Friday, August 3rd. The shares were 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 of the company’s stock, valued at $2,779,557.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.17% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in IBM. Swedbank increased its stake in shares of IBM by 214.6% during the third 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 in the last quarter. Schroder Investment Management Group increased 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 in the last quarter. Aperio Group LLC grew its stake in IBM by 9.0% during the 3rd quarter. Aperio Group LLC now owns 454,228 shares of the technology company’s stock valued at $68,684,000 after acquiring an additional 37,393 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in IBM by 3.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 320,951 shares of the technology company’s stock valued at $48,531,000 after acquiring an additional 11,129 shares in the last quarter. Finally, Tocqueville Asset Management L.P. grew its stake 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 valued at $28,725,000 after acquiring an additional 8,571 shares in the last quarter. 55.42% of the stock is owned by institutional investors and hedge funds.

About IBM

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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