Morgan Stanley Trims IBM (IBM) Target Price to $168.00
IBM (NYSE:IBM) had its target price lowered by Morgan Stanley from $185.00 to $168.00 in a research report report published on Wednesday, The Fly reports. The firm currently has an overweight rating on the technology company’s stock.
A number of other analysts also recently commented on IBM. Nomura started coverage on IBM in a research report on Wednesday, June 27th. They issued a buy rating and a $160.00 price objective for the company. Stifel Nicolaus reduced their price objective on IBM from $182.00 to $178.00 and set a buy rating for the company in a research report on Thursday, July 19th. BMO Capital Markets reduced their price objective on IBM from $175.00 to $172.00 and set a $149.24 rating for the company in a research report on Thursday, July 19th. JPMorgan Chase & Co. reiterated a $149.24 rating and issued a $157.00 price objective on shares of IBM in a research report on Thursday, July 19th. Finally, Societe Generale set a $149.00 price objective on IBM and gave the stock a sell rating in a research report on Thursday, July 19th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $167.39.
NYSE:IBM traded down $1.45 during mid-day trading on Wednesday, hitting $129.10. 7,720,962 shares of the company’s stock traded hands, compared to its average volume of 6,628,948. IBM has a 12 month low of $127.96 and a 12 month high of $171.13. The company has a market cap of $119.16 billion, a price-to-earnings ratio of 9.36, a PEG ratio of 1.90 and a beta of 0.87. The company has a quick ratio of 1.27, a current ratio of 1.31 and a debt-to-equity ratio of 1.81.
In related news, insider Diane J. Gherson sold 11,451 shares of the firm’s stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $145.42, for a total transaction of $1,665,204.42. Following the completion of the transaction, the insider now owns 19,114 shares in the company, valued at approximately $2,779,557.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.17% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Coastline Trust Co lifted its position in shares of IBM by 14.7% during the 2nd quarter. Coastline Trust Co now owns 19,353 shares of the technology company’s stock worth $2,704,000 after buying an additional 2,475 shares during the period. Berkshire Asset Management LLC PA lifted its position in shares of IBM by 2.4% during the 3rd quarter. Berkshire Asset Management LLC PA now owns 20,690 shares of the technology company’s stock worth $3,129,000 after buying an additional 481 shares during the period. Argus Investors Counsel Inc. lifted its position in shares of IBM by 18.8% during the 2nd quarter. Argus Investors Counsel Inc. now owns 27,425 shares of the technology company’s stock worth $3,831,000 after buying an additional 4,349 shares during the period. Viking Fund Management LLC increased its holdings in IBM by 3.8% during the 3rd quarter. Viking Fund Management LLC now owns 27,000 shares of the technology company’s stock valued at $4,083,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Grassi Investment Management increased its holdings in IBM by 2.0% during the 2nd quarter. Grassi Investment Management now owns 49,795 shares of the technology company’s stock valued at $6,956,000 after purchasing an additional 965 shares in the last quarter. Institutional investors and hedge funds own 55.42% of the company’s stock.
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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