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International Business Machines Co. (NYSE:IBM – Get Rating) – Equities researchers at Wedbush issued their Q1 2023 EPS estimates for shares of International Business Machines in a research report issued on Thursday, January 26th. Wedbush analyst M. Katri expects that the technology company will post earnings of $1.26 per share for the quarter. The consensus estimate for International Business Machines’ current full-year earnings is $9.66 per share. Wedbush also issued estimates for International Business Machines’ Q2 2023 earnings at $2.15 EPS, Q3 2023 earnings at $2.12 EPS, Q4 2023 earnings at $4.12 EPS and FY2024 earnings at $10.19 EPS.
Other equities analysts have also issued research reports about the stock. BMO Capital Markets boosted their price target on shares of International Business Machines from $148.00 to $155.00 and gave the company a “market perform” rating in a report on Thursday. Morgan Stanley cut their price objective on shares of International Business Machines from $148.00 to $143.00 in a research report on Thursday. Moffett Nathanson raised shares of International Business Machines from an “underperform” rating to a “market perform” rating and set a $140.00 price objective on the stock in a research report on Tuesday. Evercore ISI boosted their price objective on shares of International Business Machines from $135.00 to $150.00 in a research report on Tuesday, January 17th. Finally, Bank of America cut their price objective on shares of International Business Machines from $155.00 to $145.00 in a research report on Tuesday, October 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $142.73.
International Business Machines Price Performance
Shares of IBM stock opened at $134.45 on Friday. International Business Machines has a 12-month low of $115.54 and a 12-month high of $153.21. The firm has a market capitalization of $121.56 billion, a price-to-earnings ratio of 76.39, a price-to-earnings-growth ratio of 2.63 and a beta of 0.89. The company has a quick ratio of 0.89, a current ratio of 0.95 and a debt-to-equity ratio of 2.23. The firm has a fifty day moving average of $144.54 and a 200-day moving average of $135.54.
International Business Machines (NYSE:IBM – Get Rating) last announced its quarterly earnings results on Wednesday, January 25th. The technology company reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.61 by ($0.01). International Business Machines had a net margin of 2.71% and a return on equity of 42.52%. The firm had revenue of $16.69 billion during the quarter, compared to analyst estimates of $16.38 billion. During the same period last year, the firm earned $3.35 EPS. International Business Machines’s quarterly revenue was up .0% on a year-over-year basis.
Institutional Investors Weigh In On International Business Machines
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vestmark Advisory Solutions Inc. raised its holdings in shares of International Business Machines by 23.3% in the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 12,009 shares of the technology company’s stock valued at $1,695,000 after purchasing an additional 2,268 shares during the period. Summit Financial Strategies Inc. raised its holdings in shares of International Business Machines by 9.1% in the 3rd quarter. Summit Financial Strategies Inc. now owns 1,850 shares of the technology company’s stock valued at $220,000 after purchasing an additional 154 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of International Business Machines by 115.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 285,974 shares of the technology company’s stock valued at $33,975,000 after purchasing an additional 153,267 shares during the period. SkyOak Wealth LLC raised its holdings in shares of International Business Machines by 16.3% in the 3rd quarter. SkyOak Wealth LLC now owns 9,703 shares of the technology company’s stock valued at $1,153,000 after purchasing an additional 1,357 shares during the period. Finally, Savant Capital LLC raised its holdings in shares of International Business Machines by 7.0% in the 2nd quarter. Savant Capital LLC now owns 16,608 shares of the technology company’s stock valued at $2,345,000 after purchasing an additional 1,087 shares during the period. 55.90% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other International Business Machines news, VP Bene Robert F. Del sold 3,000 shares of the business’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $148.36, for a total transaction of $445,080.00. Following the sale, the vice president now directly owns 14,553 shares of the company’s stock, valued at approximately $2,159,083.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.04% of the company’s stock.
International Business Machines Company Profile
International Business Machines Corporation provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions, such as Red Hat, an enterprise open-source solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.
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