IBM (NYSE:IBM) Given “Buy” Rating at Credit Suisse Group

Credit Suisse Group reaffirmed their buy rating on shares of IBM (NYSE:IBM) in a report issued on Friday morning, AnalystRatings.com reports. Credit Suisse Group currently has a $173.00 price objective on the technology company’s stock.

A number of other research firms also recently weighed in on IBM. Nomura raised their price target on shares of IBM from $160.00 to $165.00 and gave the stock a buy rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. downgraded shares of News from a neutral rating to an underweight rating in a research report on Thursday, July 18th. Zacks Investment Research downgraded shares of HANNOVER RUECK/S from a hold rating to a sell rating in a research report on Monday, April 22nd. Citigroup decreased their price objective on shares of UnitedHealth Group from $288.00 to $247.00 and set a neutral rating for the company in a report on Wednesday, April 17th. Finally, Evercore ISI started coverage on shares of Sensata Technologies in a report on Wednesday, June 5th. They issued an in-line rating and a $50.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company’s stock. IBM currently has an average rating of Hold and a consensus target price of $155.65.

IBM stock opened at $149.74 on Friday. IBM has a twelve month low of $105.94 and a twelve month high of $154.36. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.83 and a quick ratio of 1.79. The firm has a market capitalization of $132.71 billion, a P/E ratio of 10.84, a P/E/G ratio of 2.55 and a beta of 1.25. The stock’s 50 day moving average is $139.21.

IBM (NYSE:IBM) last released its quarterly earnings results on Wednesday, July 17th. The technology company reported $3.17 earnings per share for the quarter, topping analysts’ consensus estimates of $3.06 by $0.11. IBM had a net margin of 11.22% and a return on equity of 69.56%. The business had revenue of $19.20 billion during the quarter, compared to the consensus estimate of $19.20 billion. During the same quarter last year, the company earned $3.08 earnings per share. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. On average, research analysts forecast that IBM will post 13.89 EPS for the current fiscal year.

In other IBM news, SVP Kenneth M. Keverian sold 2,690 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $135.50, for a total value of $364,495.00. Following the sale, the senior vice president now directly owns 34,665 shares in the company, valued at $4,697,107.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kenneth M. Keverian sold 2,227 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $135.15, for a total value of $300,979.05. Following the completion of the sale, the senior vice president now owns 32,878 shares in the company, valued at $4,443,461.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,000 shares of company stock valued at $940,430. 0.19% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. Resource Management LLC raised its stake in shares of IBM by 3.2% during the first quarter. Resource Management LLC now owns 3,126 shares of the technology company’s stock valued at $441,000 after purchasing an additional 96 shares in the last quarter. Mount Vernon Associates Inc. MD raised its stake in shares of IBM by 1.5% during the first quarter. Mount Vernon Associates Inc. MD now owns 6,705 shares of the technology company’s stock valued at $946,000 after purchasing an additional 100 shares in the last quarter. Marietta Investment Partners LLC raised its stake in shares of IBM by 1.8% during the first quarter. Marietta Investment Partners LLC now owns 5,686 shares of the technology company’s stock valued at $802,000 after purchasing an additional 100 shares in the last quarter. Armstrong Henry H Associates Inc. raised its stake in shares of IBM by 1.4% during the second quarter. Armstrong Henry H Associates Inc. now owns 7,054 shares of the technology company’s stock valued at $973,000 after purchasing an additional 100 shares in the last quarter. Finally, Balasa Dinverno & Foltz LLC raised its stake in shares of IBM by 5.8% during the first quarter. Balasa Dinverno & Foltz LLC now owns 2,253 shares of the technology company’s stock valued at $318,000 after purchasing an additional 123 shares in the last quarter. Institutional investors own 55.18% of the company’s stock.

IBM Company Profile

International Business Machines Corporation operates as an integrated technology and services company worldwide. Its Cognitive Solutions segment offers a portfolio of enterprise artificial intelligence platforms, such as analytics and data management platforms, cloud data services, talent management, and industry solutions primarily under the Watson Platform, Watson Health, and Watson Internet of Things names.

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Analyst Recommendations for IBM (NYSE:IBM)

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