International Business Machines (NYSE:IBM) Trading Up 1.8% – Time to Buy?

International Business Machines Co. (NYSE:IBM)’s stock price was up 1.8% during trading on Thursday . The company traded as high as $218.60 and last traded at $218.43. Approximately 963,666 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 4,214,387 shares. The stock had previously closed at $214.60.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on IBM shares. UBS Group lifted their target price on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. Bank of America lifted their target price on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research report on Wednesday, October 2nd. Morgan Stanley cut their price objective on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Finally, Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $208.12.

International Business Machines Trading Up 0.3 %

The firm has a market capitalization of $206.21 billion, a price-to-earnings ratio of 32.46, a PEG ratio of 4.99 and a beta of 0.71. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The company has a 50-day moving average price of $219.45 and a 200-day moving average price of $195.21.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.20 EPS. As a group, research analysts forecast that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio is presently 97.23%.

Insider Buying and Selling at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This represents a 12.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.07% of the stock is owned by company insiders.

Hedge Funds Weigh In On International Business Machines

Hedge funds have recently bought and sold shares of the company. Hazlett Burt & Watson Inc. increased its stake in International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after purchasing an additional 116 shares in the last quarter. Hara Capital LLC purchased a new position in International Business Machines in the 3rd quarter valued at approximately $29,000. Oliver Lagore Vanvalin Investment Group purchased a new position in International Business Machines in the 2nd quarter valued at approximately $36,000. Wolff Wiese Magana LLC grew its holdings in International Business Machines by 37.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after buying an additional 60 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in International Business Machines during the 3rd quarter valued at $43,000. 58.96% of the stock is owned by hedge funds and other 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.