International Business Machines (NYSE:IBM) Stock Price Up 1.3%

International Business Machines Co. (NYSE:IBM) shares traded up 1.3% during mid-day trading on Friday . The stock traded as high as $173.30 and last traded at $173.14. 467,707 shares were traded during mid-day trading, a decline of 90% from the average session volume of 4,536,117 shares. The stock had previously closed at $170.85.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price target on shares of International Business Machines in a research note on Wednesday, May 22nd. Wedbush lifted their price objective on International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. BMO Capital Markets dropped their price objective on International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a report on Thursday, April 25th. The Goldman Sachs Group began coverage on International Business Machines in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 price objective for the company. Finally, BNP Paribas began coverage on International Business Machines in a report on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $182.53.

International Business Machines Price Performance

The business has a fifty day moving average price of $169.95 and a 200 day moving average price of $176.48. 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 company has a market cap 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 earnings results 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 return on equity of 40.21% and a net margin of 13.18%. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. During the same quarter in the prior year, the firm earned $1.36 EPS. 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 year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date was Thursday, May 9th. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio is presently 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 IBM. Norges Bank acquired a new position in International Business Machines in the 4th quarter worth about $1,019,009,000. Vanguard Group Inc. grew its position in shares of International Business Machines by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after buying an additional 5,546,855 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of International Business Machines by 15,439.1% in the 4th quarter. International Assets Investment Management LLC now owns 2,653,462 shares of the technology company’s stock valued at $433,974,000 after buying an additional 2,636,386 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of International Business Machines by 151.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock valued at $671,352,000 after buying an additional 2,118,165 shares during the last quarter. Finally, Morgan Stanley grew its position in shares of International Business Machines by 13.4% in the 3rd quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock valued at $2,280,968,000 after buying an additional 1,919,490 shares during the last quarter. Institutional investors and hedge funds 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.