International Business Machines (NYSE:IBM) Stock Price Up 0.2% After Analyst Upgrade

International Business Machines Co. (NYSE:IBM) shares were up 0.2% during trading on Friday after Bank of America raised their price target on the stock from $250.00 to $260.00. Bank of America currently has a buy rating on the stock. International Business Machines traded as high as $226.63 and last traded at $226.58. Approximately 606,906 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 3,368,664 shares. The stock had previously closed at $226.04.

Other research analysts have also issued research reports about the company. Jefferies Financial Group boosted their target price on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. Morgan Stanley upped their price objective on International Business Machines from $208.00 to $222.00 and gave the stock an “equal weight” rating in a report on Monday, December 16th. DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a report on Wednesday, October 2nd. Sanford C. Bernstein upped their price objective on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Finally, Bernstein Bank upped their price objective on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average price target of $220.73.

Insider Buying and Selling

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the sale, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.07% of the company’s stock.

Institutional Trading of International Business Machines

Large investors have recently added to or reduced their stakes in the business. Public Sector Pension Investment Board increased its position in shares of International Business Machines by 72.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 35,496 shares of the technology company’s stock valued at $6,139,000 after purchasing an additional 14,874 shares during the period. AXA S.A. boosted its stake in shares of International Business Machines by 4.5% during the 2nd quarter. AXA S.A. now owns 432,215 shares of the technology company’s stock worth $74,752,000 after acquiring an additional 18,423 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of International Business Machines by 6.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock worth $1,274,074,000 after acquiring an additional 444,698 shares in the last quarter. Drucker Wealth 3.0 LLC bought a new stake in shares of International Business Machines during the 2nd quarter worth $264,000. Finally, Delta Investment Management LLC boosted its stake in shares of International Business Machines by 3.3% during the 2nd quarter. Delta Investment Management LLC now owns 5,522 shares of the technology company’s stock worth $955,000 after acquiring an additional 176 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Trading Up 0.3 %

The firm has a market capitalization of $209.59 billion, a P/E ratio of 32.99, a price-to-earnings-growth ratio of 4.78 and a beta of 0.74. 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 firm has a 50 day moving average price of $223.94 and a two-hundred day moving average price of $212.00.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. The business 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%. International Business Machines’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.20 earnings per share. On average, equities research analysts expect that International Business Machines Co. will post 10.16 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were given a $1.67 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 2.95%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

About International Business Machines

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.