International Business Machines (NYSE:IBM) Reaches New 12-Month High on Earnings Beat

International Business Machines Co. (NYSE:IBMGet Free Report)’s stock price hit a new 52-week high on Thursday following a better than expected earnings announcement. The stock traded as high as $249.35 and last traded at $247.59, with a volume of 170166 shares changing hands. The stock had previously closed at $228.63.

The technology company reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

Analyst Ratings Changes

IBM has been the topic of a number of recent analyst reports. Morgan Stanley upped their price target on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Thursday. Jefferies Financial Group raised their price target on International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a report on Thursday. Royal Bank of Canada restated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research note on Monday. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Stifel Nicolaus boosted their target price on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $225.53.

View Our Latest Research Report on International Business Machines

Insiders Place Their Bets

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

Institutional Trading of International Business Machines

A number of institutional investors and hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC increased its stake in shares of International Business Machines by 20,324.5% during the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after purchasing an additional 2,702,340 shares in the last quarter. Holocene Advisors LP purchased a new position in International Business Machines during the third quarter worth about $573,306,000. State Street Corp boosted its holdings in International Business Machines by 2.2% in the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after purchasing an additional 1,200,803 shares during the last quarter. KBC Group NV grew its position in International Business Machines by 90.4% in the fourth quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock worth $370,909,000 after acquiring an additional 800,930 shares during the period. Finally, Strategic Financial Concepts LLC increased its position in shares of International Business Machines by 23,311.1% during the 4th quarter. Strategic Financial Concepts LLC now owns 697,182 shares of the technology company’s stock worth $153,262,000 after purchasing an additional 694,204 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Trading Up 12.9 %

The firm has a market capitalization of $238.76 billion, a price-to-earnings ratio of 37.59, a PEG ratio of 4.78 and a beta of 0.74. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The business’s 50-day simple moving average is $225.24 and its two-hundred day simple moving average is $213.55.

International Business Machines Company Profile

(Get Free Report)

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.

Further Reading

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