International Business Machines (NYSE:IBM) Stock Price Up 0.6%

International Business Machines Co. (NYSE:IBM)’s share price traded up 0.6% on Wednesday . The stock traded as high as $170.75 and last traded at $170.55. 3,386,442 shares traded hands during mid-day trading, an increase of 4% from the average session volume of 3,242,117 shares. The stock had previously closed at $169.50.

Analyst Ratings Changes

A number of research firms have recently issued reports on IBM. Jefferies Financial Group cut their price target on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a report on Tuesday, April 23rd. Morgan Stanley reduced their target price on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Wedbush lifted their price target on International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of International Business Machines in a research note on Wednesday, May 22nd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $181.29.

International Business Machines Price Performance

The company’s 50-day simple moving average is $171.11 and its 200 day simple moving average is $175.93. The company has a market capitalization of $159.81 billion, a P/E ratio of 19.70, a P/E/G ratio of 4.21 and a beta of 0.72. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $14.53 billion. During the same period in the prior year, the company posted $1.36 earnings per share. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, sell-side analysts expect that International Business Machines Co. will post 9.9 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were issued a dividend of $1.67 per share. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date was Thursday, May 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.84%. International Business Machines’s dividend payout ratio is currently 75.65%.

Institutional Investors Weigh In On International Business Machines

A number of large investors have recently added to or reduced their stakes in the stock. Clearbridge Investments LLC lifted its position in International Business Machines by 5.8% during the 3rd quarter. Clearbridge Investments LLC now owns 34,406 shares of the technology company’s stock worth $4,827,000 after acquiring an additional 1,891 shares during the last quarter. LPL Financial LLC boosted its stake in International Business Machines by 8.2% during the 3rd quarter. LPL Financial LLC now owns 1,059,275 shares of the technology company’s stock valued at $148,616,000 after purchasing an additional 80,064 shares during the period. Ontario Teachers Pension Plan Board grew its holdings in International Business Machines by 75.1% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 11,735 shares of the technology company’s stock valued at $1,646,000 after buying an additional 5,035 shares during the last quarter. Mariner LLC increased its position in International Business Machines by 2.4% in the 3rd quarter. Mariner LLC now owns 237,852 shares of the technology company’s stock worth $33,371,000 after buying an additional 5,516 shares during the period. Finally, Retirement Planning Co of New England Inc. lifted its holdings in shares of International Business Machines by 8.4% during the third quarter. Retirement Planning Co of New England Inc. now owns 4,823 shares of the technology company’s stock worth $677,000 after buying an additional 373 shares during the last quarter. 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.