International Business Machines (NYSE:IBM) Trading Up 0.7% – What’s Next?

International Business Machines Co. (NYSE:IBM) shot up 0.7% on Friday . The company traded as high as $247.66 and last traded at $247.52. 1,102,420 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 3,899,760 shares. The stock had previously closed at $245.80.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on IBM shares. BMO Capital Markets boosted their price target on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. Sanford C. Bernstein raised their price target on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Wedbush started coverage on shares of International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating for the company. Oppenheimer started coverage on shares of International Business Machines in a report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 target price on the stock. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. Two equities 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $231.44.

International Business Machines Stock Up 0.7 %

The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The company has a market capitalization of $229.63 billion, a PE ratio of 38.63, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. The company’s fifty day moving average is $243.72 and its 200-day moving average is $227.70.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. As a group, analysts predict that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s dividend payout ratio is presently 104.21%.

Insider Activity

In related news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the transaction, the senior vice president now owns 45,007 shares in the company, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.07% of the company’s stock.

Hedge Funds Weigh In On International Business Machines

Several large investors have recently modified their holdings of the stock. Compass Financial Services Inc bought a new position in International Business Machines during the 4th quarter valued at about $26,000. Vision Financial Markets LLC bought a new position in shares of International Business Machines during the fourth quarter valued at approximately $31,000. Avondale Wealth Management raised its holdings in shares of International Business Machines by 56.0% in the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after buying an additional 56 shares during the period. Valued Wealth Advisors LLC lifted its stake in shares of International Business Machines by 134.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after acquiring an additional 90 shares during the last quarter. Finally, Rialto Wealth Management LLC bought a new stake in shares of International Business Machines during the fourth quarter worth $35,000. 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.