International Business Machines (NYSE:IBM) Shares Up 1% – Here’s What Happened

International Business Machines Co. (NYSE:IBM)’s share price rose 1% during trading on Wednesday . The stock traded as high as $249.45 and last traded at $249.44. Approximately 542,697 shares were traded during trading, a decline of 86% from the average daily volume of 3,867,898 shares. The stock had previously closed at $246.95.

Wall Street Analysts Forecast Growth

IBM has been the topic of several research analyst reports. Morgan Stanley upped their target price on International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Sanford C. Bernstein upped their target price on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Oppenheimer assumed coverage on International Business Machines in a research report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 target price on the stock. Wedbush assumed coverage on International Business Machines in a research note on Monday, February 3rd. They set an “outperform” rating on the stock. Finally, JPMorgan Chase & Co. upped their price target on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $231.44.

International Business Machines Trading Up 1.5 %

The stock has a market capitalization of $232.35 billion, a PE ratio of 39.09, a P/E/G ratio of 5.81 and a beta of 0.74. The firm has a 50 day moving average price of $245.29 and a 200 day moving average price of $229.16. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping the consensus estimate 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 expect that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were issued a dividend of $1.67 per share. The ex-dividend date was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.67%. International Business Machines’s dividend payout ratio (DPR) is currently 104.21%.

Insider Buying and Selling

In related news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the sale, the senior vice president now directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.07% of the stock is currently owned by corporate insiders.

Institutional Trading of International Business Machines

A number of large investors have recently bought and sold shares of IBM. Compass Financial Services Inc purchased a new stake in International Business Machines in the fourth quarter worth $26,000. Vision Financial Markets LLC purchased a new stake in International Business Machines in the fourth quarter worth $31,000. Avondale Wealth Management increased its position in 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 last quarter. Valued Wealth Advisors LLC increased its position in International Business Machines by 134.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after buying an additional 90 shares during the last quarter. Finally, Rialto Wealth Management LLC purchased a new stake in International Business Machines in the fourth quarter worth $35,000. 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.