International Business Machines (NYSE:IBM) Stock Price Up 0.6% – Time to Buy?

International Business Machines Co. (NYSE:IBM)’s share price traded up 0.6% during mid-day trading on Tuesday . The stock traded as high as $237.37 and last traded at $236.73. 679,549 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 4,182,172 shares. The stock had previously closed at $235.26.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Evercore ISI raised their target price on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. The Goldman Sachs Group raised their target price on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Finally, Jefferies Financial Group raised their price target on International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, International Business Machines has an average rating of “Hold” and an average target price of $203.06.

International Business Machines Trading Down 0.4 %

The company has a market cap of $213.90 billion, a P/E ratio of 26.23, a PEG ratio of 5.21 and a beta of 0.70. The stock’s 50 day moving average is $210.57 and its 200-day moving average is $188.54. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. The company had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. International Business Machines’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.18 EPS. Research analysts anticipate that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date was Friday, August 9th. International Business Machines’s payout ratio is 75.65%.

Hedge Funds Weigh In On International Business Machines

A number of hedge funds have recently bought and sold shares of the business. Claro Advisors LLC raised its position in International Business Machines by 413.4% in the 3rd quarter. Claro Advisors LLC now owns 29,067 shares of the technology company’s stock worth $6,426,000 after buying an additional 23,405 shares during the last quarter. Well Done LLC purchased a new position in International Business Machines in the 3rd quarter worth about $230,000. CHB Investment Group LLC purchased a new position in International Business Machines in the 3rd quarter worth about $258,000. Ellenbecker Investment Group raised its position in International Business Machines by 2.3% in the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock worth $453,000 after buying an additional 46 shares during the last quarter. Finally, Sax Wealth Advisors LLC raised its position in International Business Machines by 11.0% in the 3rd quarter. Sax Wealth Advisors LLC now owns 4,687 shares of the technology company’s stock worth $1,036,000 after buying an additional 465 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

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.