International Business Machines (NYSE:IBM) Trading Up 0.6% – Here’s What Happened

International Business Machines Co. (NYSE:IBM) rose 0.6% during mid-day trading on Monday . The company traded as high as $224.68 and last traded at $224.33. Approximately 1,099,835 shares traded hands during trading, a decline of 74% from the average daily volume of 4,223,939 shares. The stock had previously closed at $222.97.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a research note on Wednesday, October 2nd. Stifel Nicolaus upped their price target on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group lifted their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Morgan Stanley cut their price objective on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Finally, Bernstein Bank lifted their target price on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, International Business Machines currently has an average rating of “Hold” and an average price target of $208.12.

International Business Machines Stock Performance

The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The stock has a market capitalization of $209.89 billion, a price-to-earnings ratio of 33.04, a PEG ratio of 5.08 and a beta of 0.71. The firm has a fifty day moving average of $220.17 and a 200-day moving average of $196.64.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same period in the previous year, the firm earned $2.20 EPS. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be given a dividend of $1.67 per share. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 2.94%. International Business Machines’s dividend payout ratio is currently 97.23%.

Insider Activity at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.07% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On International Business Machines

A number of hedge funds and other institutional investors have recently modified their holdings of IBM. Hazlett Burt & Watson Inc. raised its holdings in 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 acquiring an additional 116 shares during the last quarter. Hara Capital LLC acquired a new position in International Business Machines in the third quarter valued at $29,000. Oliver Lagore Vanvalin Investment Group purchased a new position in International Business Machines during the second quarter worth about $36,000. Wolff Wiese Magana LLC boosted its stake in International Business Machines by 37.0% in the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after buying an additional 60 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in International Business Machines in the 3rd quarter valued at about $43,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

About International Business Machines

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.