International Business Machines Co. (NYSE:IBM – Get Free Report) shares were down 1.6% during mid-day trading on Thursday . The company traded as low as $164.28 and last traded at $164.42. Approximately 985,097 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 4,688,879 shares. The stock had previously closed at $167.05.
Analyst Ratings Changes
Several research analysts have issued reports on the company. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Stifel Nicolaus reiterated a “buy” rating and issued a $190.00 price target on shares of International Business Machines in a report on Thursday, May 16th. Bank of America increased their price target on International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Sanford C. Bernstein increased their price target on International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a report on Thursday, March 7th. Finally, Jefferies Financial Group dropped their target price on International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a report on Tuesday, April 23rd. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $181.29.
International Business Machines Trading Down 0.9 %
The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13. The stock’s fifty day moving average is $177.70 and its 200 day moving average is $174.48. The stock has a market cap of $152.04 billion, a P/E ratio of 18.62, a P/E/G ratio of 4.18 and a beta of 0.74.
International Business Machines (NYSE:IBM – Get Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. During the same quarter last year, the firm earned $1.36 EPS. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, equities research analysts predict that International Business Machines Co. will post 9.91 earnings per share for the current fiscal year.
International Business Machines Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be paid a $1.67 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $6.68 annualized dividend and a yield of 4.04%. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.
Hedge Funds Weigh In On International Business Machines
Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in International Business Machines by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after purchasing an additional 5,546,855 shares during the period. Morgan Stanley grew its position in International Business Machines by 13.4% during the 3rd quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock worth $2,280,968,000 after purchasing an additional 1,919,490 shares during the period. Northern Trust Corp grew its position in International Business Machines by 4.2% during the 3rd quarter. Northern Trust Corp now owns 9,970,674 shares of the technology company’s stock worth $1,398,886,000 after purchasing an additional 404,948 shares during the period. Charles Schwab Investment Management Inc. grew its position in International Business Machines by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,465,214 shares of the technology company’s stock worth $1,048,631,000 after purchasing an additional 61,028 shares during the period. Finally, Norges Bank acquired a new stake in International Business Machines during the 4th quarter worth about $1,019,009,000. 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.