International Business Machines (NYSE:IBM) Stock Price Up 1.5%

International Business Machines Co. (NYSE:IBM)’s share price was up 1.5% during trading on Thursday . The stock traded as high as $174.10 and last traded at $173.16. Approximately 802,562 shares changed hands during trading, a decline of 82% from the average daily volume of 4,519,553 shares. The stock had previously closed at $170.55.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Jefferies Financial Group lowered their price objective on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a research note on Tuesday, April 23rd. Stifel Nicolaus reiterated a “buy” rating and set a $190.00 price objective on shares of International Business Machines in a research note on Thursday, May 16th. BNP Paribas initiated coverage on shares of International Business Machines in a report on Thursday, May 2nd. They set an “underperform” rating and a $145.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Finally, Morgan Stanley cut their price objective on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $181.29.

International Business Machines Trading Down 0.8 %

The company’s 50 day simple moving average is $170.91 and its two-hundred day simple moving average is $176.01. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. The company has a market capitalization of $158.42 billion, a price-to-earnings ratio of 19.53, a P/E/G ratio of 4.29 and a beta of 0.72.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, topping the consensus estimate 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 business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. During the same period in the previous year, the firm posted $1.36 earnings per share. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, research analysts anticipate 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 paid a dividend of $1.67 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a dividend yield of 3.87%. The ex-dividend date of this dividend was Thursday, May 9th. International Business Machines’s payout ratio is presently 75.65%.

Institutional Investors Weigh In On International Business Machines

Several institutional investors and hedge funds have recently made changes to their positions in IBM. FPC Investment Advisory Inc. acquired a new position in International Business Machines during the first quarter valued at $26,000. Naples Money Management LLC acquired a new position in International Business Machines during the fourth quarter valued at $28,000. ESL Trust Services LLC acquired a new position in International Business Machines during the first quarter valued at $28,000. Creekmur Asset Management LLC acquired a new position in International Business Machines during the fourth quarter valued at $29,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in International Business Machines during the fourth quarter valued at $31,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

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.