International Business Machines (NYSE:IBM) Trading 0.5% Higher – Still a Buy?

International Business Machines Co. (NYSE:IBM) was up 0.5% on Thursday . The stock traded as high as $257.63 and last traded at $257.10. Approximately 777,582 shares were traded during trading, a decline of 83% from the average daily volume of 4,626,673 shares. The stock had previously closed at $255.84.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Jefferies Financial Group raised their target price on International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. raised their price objective on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. The Goldman Sachs Group reissued a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Bank of America raised their price target on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, Wedbush initiated coverage on shares of International Business Machines in a research note on Monday, February 3rd. They issued an “outperform” rating for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $231.44.

International Business Machines Stock Down 1.0 %

The firm has a fifty day moving average price of $237.20 and a 200 day moving average price of $223.48. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The company has a market cap of $234.16 billion, a P/E ratio of 39.51, a PEG ratio of 5.81 and a beta of 0.76.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. Equities research analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be given a $1.67 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.64%. International Business Machines’s dividend payout ratio is currently 104.21%.

Hedge Funds Weigh In On International Business Machines

Several hedge funds have recently added to or reduced their stakes in IBM. Compass Financial Services Inc acquired a new stake in shares of International Business Machines in the 4th quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. grew its holdings in shares of 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 buying an additional 116 shares during the period. Hara Capital LLC bought a new stake in shares of International Business Machines in the 3rd quarter valued at $29,000. Vision Financial Markets LLC acquired a new stake in International Business Machines during the 4th quarter worth $31,000. Finally, Avondale Wealth Management lifted its holdings in International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after acquiring an additional 56 shares in the last quarter. Institutional investors and hedge funds 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.