Royal Bank of Canada Boosts International Business Machines (NYSE:IBM) Price Target to $211.00

International Business Machines (NYSE:IBM) had its price target increased by Royal Bank of Canada from $200.00 to $211.00 in a report published on Thursday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.

A number of other analysts have also recently commented on IBM. Stifel Nicolaus upped their price target on shares of International Business Machines from $190.00 to $205.00 and gave the company a buy rating in a research note on Thursday. The Goldman Sachs Group initiated coverage on International Business Machines in a report on Monday, June 24th. They issued a buy rating and a $200.00 price target for the company. StockNews.com upgraded International Business Machines from a hold rating to a buy rating in a research report on Wednesday, June 19th. Jefferies Financial Group increased their price objective on International Business Machines from $190.00 to $200.00 and gave the stock a hold rating in a report on Thursday. Finally, Wedbush lifted their target price on International Business Machines from $140.00 to $160.00 and gave the company a neutral rating in a report on Thursday, April 25th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $184.93.

International Business Machines Price Performance

Shares of NYSE IBM opened at $191.75 on Thursday. The firm has a market cap of $176.14 billion, a price-to-earnings ratio of 21.72, a price-to-earnings-growth ratio of 4.69 and a beta of 0.71. The stock has a fifty day simple moving average of $174.75 and a two-hundred day simple moving average of $179.25. The company has a current ratio of 1.12, a quick ratio of 1.09 and a debt-to-equity ratio of 2.20. International Business Machines has a 1-year low of $135.87 and a 1-year high of $199.18.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.27. The company had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.18 EPS. Analysts anticipate that International Business Machines will post 10.06 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were issued a $1.67 dividend. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.48%. International Business Machines’s dividend payout ratio is presently 75.65%.

Institutional Trading of International Business Machines

A number of hedge funds have recently made changes to their positions in the stock. FPC Investment Advisory Inc. bought a new stake in International Business Machines during the first quarter worth about $26,000. Naples Money Management LLC bought a new stake in International Business Machines in the 4th quarter worth approximately $28,000. ESL Trust Services LLC bought a new stake in International Business Machines in the 1st quarter worth approximately $28,000. Creekmur Asset Management LLC bought a new position in International Business Machines during the fourth quarter valued at approximately $29,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in shares of International Business Machines during the fourth quarter worth approximately $31,000. 58.96% of the stock is owned by institutional investors.

International Business Machines Company Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.