IBM (IBM) Rating Lowered to Hold at Argus

Argus cut shares of IBM (NYSE:IBM) from a buy rating to a hold rating in a research report sent to investors on Thursday morning, Marketbeat Ratings reports.

IBM has been the subject of a number of other research reports. BMO Capital Markets dropped their price objective on shares of IBM from $172.00 to $164.00 and set a market perform rating for the company in a research note on Wednesday. Wedbush restated a neutral rating and issued a $185.00 price objective on shares of IBM in a research note on Thursday, July 19th. Cantor Fitzgerald dropped their price objective on shares of IBM from $152.00 to $140.00 and set a neutral rating for the company in a research note on Wednesday. Morgan Stanley dropped their price objective on shares of IBM from $185.00 to $168.00 and set an overweight rating for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. restated a neutral rating and issued a $160.00 price objective on shares of IBM in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $167.39.

NYSE:IBM traded down $1.72 during trading hours on Thursday, hitting $128.83. 432,042 shares of the company traded hands, compared to its average volume of 6,425,975. The stock has a market cap of $122.36 billion, a P/E ratio of 9.50, a PEG ratio of 1.96 and a beta of 0.87. IBM has a twelve month low of $130.04 and a twelve month 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 earnings results on Tuesday, October 16th. The technology company reported $3.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.40 by $0.02. The firm had revenue of $18.76 billion during the quarter, compared to analysts’ expectations of $19.04 billion. IBM had a net margin of 7.12% and a return on equity of 69.98%. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $3.30 EPS. As a group, equities research analysts anticipate that IBM will post 13.8 EPS for the current year.

In other news, insider Diane J. Gherson sold 11,451 shares of the company’s stock in a transaction dated 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 sale, the insider now 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 can be accessed through the SEC website. 0.17% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Aperio Group LLC grew its holdings in shares of IBM by 9.0% in 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 last quarter. Adams Asset Advisors LLC grew its holdings in IBM by 14.0% during the 3rd quarter. Adams Asset Advisors LLC now owns 48,705 shares of the technology company’s stock worth $7,364,000 after acquiring an additional 5,970 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings 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 acquiring an additional 11,129 shares during the last quarter. Berkshire Asset Management LLC PA grew its holdings in 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 acquiring an additional 481 shares during the last quarter. Finally, Swedbank grew its holdings 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 acquiring an additional 766,478 shares during the last quarter. 55.42% of the stock is currently owned by institutional investors and hedge funds.

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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