IBM (IBM) Rating Lowered to Sell at ValuEngine
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.
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.
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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