International Business Machines (NYSE:IBM) Sees Large Volume Increase on Analyst Upgrade

Shares of International Business Machines Co. (NYSE:IBM) saw strong trading volume on Friday after Sanford C. Bernstein raised their price target on the stock from $210.00 to $215.00. Sanford C. Bernstein currently has a market perform rating on the stock. 1,209,950 shares changed hands during mid-day trading, a decline of 35% from the previous session’s volume of 1,864,268 shares.The stock last traded at $222.83 and had previously closed at $219.94.

A number of other research firms have also commented on IBM. Stifel Nicolaus upped their price target on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Morgan Stanley upped their price objective on shares of International Business Machines from $208.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday, December 16th. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Bernstein Bank upped their price target on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research report on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $210.65.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.07% of the company’s stock.

Institutional Investors Weigh In On International Business Machines

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. boosted its position in International Business Machines by 40.9% in the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after purchasing an additional 166 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of International Business Machines in the 2nd quarter worth approximately $7,160,000. Philip James Wealth Mangement LLC purchased a new position in shares of International Business Machines in the third quarter worth approximately $5,117,000. Lord Abbett & CO. LLC purchased a new stake in International Business Machines during the third quarter valued at approximately $24,761,000. Finally, Aljian Capital Management LLC bought a new position in International Business Machines in the third quarter worth approximately $611,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 1.2 %

The company’s 50 day moving average price is $220.38 and its two-hundred day moving average price is $206.89. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The firm has a market cap of $205.87 billion, a PE ratio of 32.41, a PEG ratio of 5.18 and a beta of 0.73.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same quarter in the previous year, the company posted $2.20 earnings per share. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, equities research analysts expect that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

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.