International Business Machines (NYSE:IBM) Trading Up 0.2%

International Business Machines Co. (NYSE:IBM)’s share price shot up 0.2% during mid-day trading on Thursday . The stock traded as high as $172.24 and last traded at $172.20. 454,099 shares were traded during trading, a decline of 90% from the average session volume of 4,549,811 shares. The stock had previously closed at $171.87.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on IBM shares. JPMorgan Chase & Co. dropped their price objective on International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Wedbush increased their price target on shares of International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $190.00 price objective on shares of International Business Machines in a research note on Thursday, May 16th. Bank of America increased their target price on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Finally, Sanford C. Bernstein upped their price target on International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research note on Thursday, March 7th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $182.53.

International Business Machines Stock Performance

The stock has a fifty day moving average price of $169.95 and a 200-day moving average price of $176.40. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32. The firm has a market capitalization of $158.87 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 4.21 and a beta of 0.72.

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, beating analysts’ consensus estimates of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. 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 business earned $1.36 earnings per share. The business’s revenue was up 1.5% on a year-over-year basis. As a group, 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 firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Thursday, May 9th. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 dividend on an annualized basis and a yield of 3.86%. International Business Machines’s dividend payout ratio is 75.65%.

Hedge Funds Weigh In On International Business Machines

A number of institutional investors and hedge funds have recently bought and sold shares of the business. FPC Investment Advisory Inc. acquired a new position in International Business Machines during the 1st quarter worth about $26,000. Naples Money Management LLC bought a new position in shares of International Business Machines in the fourth quarter worth about $28,000. ESL Trust Services LLC acquired a new position in shares of International Business Machines during the first quarter worth approximately $28,000. Creekmur Asset Management LLC acquired a new position in shares of International Business Machines during the fourth quarter worth approximately $29,000. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in shares of International Business Machines during the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

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.