IBM (IBM) Stock Challenges Multi-month Highs

International Business Machines Corp (IBM) has been building a tight upper level base above last week’s upward momentum to currently challenge multi-month highs along the $165 level. The name has done so with a healthy accelerated uptrend intact since mid-March. Ticker extended as high as $162.72 in March 20 with the last seven weeks spent moving upward.

IBM began trading this morning at $162.73 to currently trade 2.25 points higher from the prior days close of $162.88. On an intraday basis it has gotten as low as $162.73 and as high as $165.30. A move through $166 on good volume could lead to additional upside momo.

Fundamentally, IBM shows the following financial data:

  • $8.48 billion in cash in most recent quarter
  • $117.53 billion t-12 total assets
  • $12.02 billion total equity
  • $92.79 billion t-12 revenue
  • $15.75 billion annual net income
  • $13.13 billion free cash flow

On valuation measures, International Business Machines Corp. shares have a T-12 price/sales ratio of 1.73 and a price/book for the same period of 13.59. EPS is $15.74. The name has a market cap of $161.58 billion and a median Wall Street price target of $160.00 with a high target of $198.00. Currently there are 2 analysts that rate IBM a ‘Buy’, 18 rate it a ‘Hold’. 4 analysts rate it a ‘Sell’.

In terms of share statistics, the Big Blue has a total of 988.42 million shares outstanding with 0.06% held by insiders and 59.30% held by institutions. The stock’s short interest currently stands at 2.15%, bringing the total number of shares sold short to 21.21 million.

Offering a dividend yield of 2.66%, shares of the $163.32 billion Armonk, New York-based company are down 11.08% year-over-year, compared with an 13.49% gain in the S&P 500.

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