International Business Machines (NYSE:IBM) Trading Down 0.8% – Here’s What Happened

International Business Machines Co. (NYSE:IBM) dropped 0.8% on Wednesday . The company traded as low as $261.75 and last traded at $262.31. Approximately 1,257,926 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 4,698,344 shares. The stock had previously closed at $264.46.

Analysts Set New Price Targets

Several brokerages recently issued reports on IBM. Jefferies Financial Group raised their price objective on International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. raised their price target on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a report on Monday, January 27th. Finally, Stifel Nicolaus upped their target price on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and an average target price of $225.53.

International Business Machines Price Performance

The stock has a 50 day moving average of $228.01 and a two-hundred day moving average of $215.86. The stock has a market cap of $243.19 billion, a PE ratio of 41.03, a PEG ratio of 5.63 and a beta of 0.76. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. Equities analysts anticipate that International Business Machines Co. will post 10.73 EPS for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be paid a $1.67 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.54%. International Business Machines’s dividend payout ratio is presently 104.21%.

Insider Buying and Selling at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction dated 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 sale, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. The trade was a 12.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.07% of the company’s stock.

Hedge Funds Weigh In On International Business Machines

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Czech National Bank lifted its position in shares of International Business Machines by 7.2% in the third quarter. Czech National Bank now owns 187,647 shares of the technology company’s stock worth $41,485,000 after buying an additional 12,599 shares during the last quarter. Azzad Asset Management Inc. ADV raised its stake in shares of International Business Machines by 3.4% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 11,827 shares of the technology company’s stock valued at $2,615,000 after acquiring an additional 384 shares in the last quarter. Everpar Advisors LLC lifted its holdings in International Business Machines by 19.6% in the 3rd quarter. Everpar Advisors LLC now owns 1,452 shares of the technology company’s stock worth $321,000 after purchasing an additional 238 shares during the last quarter. Heartwood Wealth Advisors LLC grew its holdings in International Business Machines by 2.0% during the third quarter. Heartwood Wealth Advisors LLC now owns 5,908 shares of the technology company’s stock valued at $1,306,000 after purchasing an additional 117 shares during the last quarter. Finally, Ignite Planners LLC raised its position in shares of International Business Machines by 16.1% in the third quarter. Ignite Planners LLC now owns 3,314 shares of the technology company’s stock valued at $733,000 after purchasing an additional 460 shares during the period. 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.