International Business Machines (NYSE:IBM) Shares Down 0.9% – Here’s Why

International Business Machines Co. (NYSE:IBM) was down 0.9% during trading on Friday . The stock traded as low as $243.68 and last traded at $244.07. Approximately 419,558 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 3,883,765 shares. The stock had previously closed at $246.21.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Jefferies Financial Group lifted 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. UBS Group upped their target price on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a report on Tuesday, January 14th. Wedbush began coverage on shares of International Business Machines in a report on Monday, February 3rd. They issued an “outperform” rating for the company. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Saturday, March 15th. Finally, BMO Capital Markets lifted their price objective on International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $231.44.

International Business Machines Stock Performance

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 cap of $226.10 billion, a PE ratio of 38.04, a PEG ratio of 5.81 and a beta of 0.74. The business’s 50-day moving average is $249.51 and its 200 day moving average is $231.47.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating 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%. On average, equities research analysts predict that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company 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 2.74%. International Business Machines’s dividend payout ratio is currently 104.21%.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction that occurred on 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 sale, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On International Business Machines

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of International Business Machines by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock worth $20,189,023,000 after purchasing an additional 1,539,888 shares during the period. State Street Corp raised its stake in International Business Machines by 2.2% in the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after buying an additional 1,200,803 shares in the last quarter. Geode Capital Management LLC lifted its holdings in International Business Machines by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company’s stock worth $4,589,145,000 after buying an additional 427,499 shares during the period. Capital World Investors boosted its position in International Business Machines by 413.5% during the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock valued at $2,634,577,000 after acquiring an additional 9,650,534 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of International Business Machines by 18.6% during the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock worth $2,384,275,000 after acquiring an additional 1,704,209 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.