Several other research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of IBM from a hold rating to a sell rating in a report on Wednesday, October 3rd. Moffett Nathanson began coverage on shares of IBM in a report on Thursday, October 4th. They issued a sell rating and a $150.00 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. Societe Generale set a $149.00 price objective on shares of IBM and gave the stock a sell rating in a report on Thursday, July 19th. Finally, Wedbush reaffirmed a neutral rating and issued a $185.00 price objective on shares of IBM in a report on Thursday, July 19th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $167.39.
Shares of IBM stock traded down $1.45 during trading hours on Wednesday, hitting $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. IBM has a 52-week low of $127.96 and a 52-week high of $171.13. The firm has a market cap of $119.16 billion, a P/E ratio of 9.36, a PEG ratio of 1.90 and a beta of 0.87.
In other IBM news, insider Diane J. Gherson sold 11,451 shares of the firm’s stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $145.42, for a total value of $1,665,204.42. Following the completion of the transaction, the insider now directly owns 19,114 shares of the company’s stock, valued at approximately $2,779,557.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.17% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in the business. Schroder Investment Management Group boosted its holdings in IBM by 24.1% in the 2nd quarter. Schroder Investment Management Group now owns 1,854,109 shares of the technology company’s stock valued at $259,649,000 after purchasing an additional 359,868 shares during the period. Swedbank boosted its holdings in IBM by 214.6% in the 3rd quarter. Swedbank now owns 1,123,724 shares of the technology company’s stock valued at $169,918,000 after purchasing an additional 766,478 shares during the period. Aperio Group LLC boosted its holdings in IBM by 9.0% in the 3rd quarter. Aperio Group LLC now owns 454,228 shares of the technology company’s stock valued at $68,684,000 after purchasing an additional 37,393 shares during the period. Nisa Investment Advisors LLC boosted its holdings in IBM by 3.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 320,951 shares of the technology company’s stock valued at $48,531,000 after purchasing an additional 11,129 shares during the period. Finally, Tocqueville Asset Management L.P. boosted its holdings in IBM by 4.3% in 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 purchasing an additional 8,571 shares during the period. 55.42% of the stock is owned by hedge funds and other 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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