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IBM Corp. finds support from Morningstar with A+ Credit Rating


Morningstar has given an “A+” credit rating on International Business Machines (IBM) Corp. It appears that the company’s performance is at low default risk. Moreover, Morningstar has issued an “AA-“ on IBM, but lately downgraded their rating on the stock and a four star rating was also given.  

Certain reports give highlights on IBM. Societe Generale downgrade their price objective from $148.00 to $140.00 and issued a rating of “sell” on the stock on October 20th. Jefferies Group reassigned a rating of “sell” and set a price objective of $125.00 on October 20th. Vetr lifted a rating of “hold” into a “buy” and issued a price objective of $154.94 on October 20th. Cantor Fitzgerald reissued a rating of “hold” and have given a price objective of $140.00 on October 28th. Lastly, Drexel Hamilton initiated a coverage on IBM shares on October 9th. It has set a rating of “buy” and issued a price objective of $176.00 for the firm. Five analysts of which have given the stock a rating of sell, twelve have set a rating of hold, and seven issued a rating of buy on the firm’s stock. The average rating of the company settled at “Hold” along with a price objective of $151.38.

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On  Monday, company shares of IBM settled at 137.62 at the opening bell. It posted a 52-week low of $131.65 and a 52-week high of $176.30. The market cap of the firm stands at $133.51 billion along with a 9.58 PE ratio. It registered a $137.40 on its 50-day moving average, while $149.11 on its 200-day moving average.

The company last issued reports on its financial earnings for the quarter on October 19th. Its quarterly earnings per share posted $3.34, exceeding the expected estimate of $3.30 by $0.04. Moreover, the technology company’s quarterly revenue amounted to $19.28 billion, not meeting the analysts’ expected value of $19.62 billion. Amid the same period in the previous year, it has earned an EPS of $3.68, however, its revenue for the quarter declined by 13.9% compared to the same quarter prior year. On average, analysts anticipate IBM to post an EPS of $14.93 for the current fiscal year.    

Furthermore, a dividend for the quarter was lately issued and was paid on December 10th. Stockholders of record on November 10th were paid a $1.30 per share dividend. It implies an annual dividend of $5.20 and a yield of 3.78%. The ex-dividend date was settled at November 6th.

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On the November 19th transaction, SVP Erich Clementi sold 16,400 shares. The average price of the sold shares stands at $137.29 with a total value of $2,251,556.00. After the acquisition, the senior vice president currently owns 20,198 shares with a value of $2,772,983.42. The transaction was disclosed in a Form, 4 filing with the Securities and Exchange Commission (SEC). Moreover, on the November 23rd transaction, EVP Steven A. Mills sold 10,000 shares. The average price of the sold shares stands at $138.29 with a total transaction value of $1,382,900.00. After the completion, the executive vice president currently owns 145,414 shares with a value of $20,109,302.06.  

IBM shares were recently bought and sold by numbers of hedge funds. Northcoast Asset Management added its stake in the company by 101.0% in the third quarter. It currently owns 24,357 shares amounting to $3,531,000 after purchasing an additional 12,242 shares amid prior quarter. Palo Capital increased 10.3% stake as well in the third quarter, and has now owns 7,145 shares valuing $1,036,000 after purchasing an additional 665 shares amid prior quarter. Modera Wealth Management posted an increased on stake of 0.3%, and now owns about 5,663 shares with a total value of $821,000 after purchasing an additional 17 shares amid prior year.   

As IBM Corp was given an A+ Credit Rating, tons of investors will likely watch out for signals about this company stock. You too can earn bigger profits and execute better trades here at Trade12 by reading the latest market updates on our official website, Trade12.com. Striving to become the best forex broker for you, Trade12 reviews daily market events essential to your trading activities to help you develop a keen understanding of certain trends involving stocks, currencies, indices, commodities, and metals. With all the positive Trade12 feedback from clients, you will be assured that your trading account is safe and secured.

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