International Business Machines (NYSE:IBM) Trading Down 1%

Shares of International Business Machines Co. (NYSE:IBM) were down 1% during mid-day trading on Tuesday . The stock traded as low as $172.89 and last traded at $173.30. Approximately 540,489 shares changed hands during trading, a decline of 88% from the average daily volume of 4,568,718 shares. The stock had previously closed at $175.01.

Analysts Set New Price Targets

Several analysts recently weighed in on IBM shares. Morgan Stanley cut their price target on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Bank of America raised their target price on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Wedbush boosted their target price on shares of International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Jefferies Financial Group dropped their price target on International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a research note on Tuesday, April 23rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of International Business Machines in a research report on Wednesday, May 22nd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, International Business Machines has an average rating of “Hold” and an average price target of $182.53.

International Business Machines Trading Down 0.4 %

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 has a fifty day moving average of $170.56 and a 200 day moving average of $176.40. The company has a market capitalization of $157.88 billion, a PE ratio of 19.46, a PEG ratio of 4.26 and a beta of 0.72.

International Business Machines (NYSE:IBM) last posted its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, beating 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 company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. During the same period last year, the company posted $1.36 earnings per share. International Business Machines’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, sell-side analysts predict that International Business Machines Co. will post 9.9 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were given 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 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date was Thursday, May 9th. International Business Machines’s dividend payout ratio is currently 75.65%.

Institutional Investors Weigh In On International Business Machines

Several large investors have recently bought and sold shares of the business. Westfield Capital Management Co. LP lifted its stake in shares of International Business Machines by 6.4% in the 3rd quarter. Westfield Capital Management Co. LP now owns 90,209 shares of the technology company’s stock valued at $12,656,000 after purchasing an additional 5,394 shares during the last quarter. Bank of Nova Scotia boosted its stake in International Business Machines by 11.7% during the third quarter. Bank of Nova Scotia now owns 100,825 shares of the technology company’s stock worth $14,146,000 after buying an additional 10,585 shares during the period. Morningstar Investment Services LLC raised its stake in shares of International Business Machines by 41.3% in the third quarter. Morningstar Investment Services LLC now owns 3,016 shares of the technology company’s stock valued at $427,000 after acquiring an additional 882 shares during the period. Cape Cod Five Cents Savings Bank lifted its holdings in shares of International Business Machines by 31.5% in the 3rd quarter. Cape Cod Five Cents Savings Bank now owns 4,120 shares of the technology company’s stock worth $578,000 after acquiring an additional 987 shares during the last quarter. Finally, CWA Asset Management Group LLC boosted its stake in shares of International Business Machines by 6.2% during the 3rd quarter. CWA Asset Management Group LLC now owns 14,229 shares of the technology company’s stock worth $1,996,000 after purchasing an additional 829 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.