International Business Machines (NYSE:IBM) Hits New 12-Month High at $219.10

Shares of International Business Machines Co. (NYSE:IBM) hit a new 52-week high during trading on Monday . The stock traded as high as $219.10 and last traded at $218.81, with a volume of 211179 shares trading hands. The stock had previously closed at $217.70.

Wall Street Analysts Forecast Growth

IBM has been the topic of several recent analyst reports. Stifel Nicolaus boosted their target price on shares of International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Royal Bank of Canada increased their price target on International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. UBS Group increased their target price on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. Finally, StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $188.60.

International Business Machines Price Performance

The firm has a market capitalization of $200.47 billion, a price-to-earnings ratio of 24.65, a price-to-earnings-growth ratio of 4.67 and a beta of 0.70. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The company’s fifty day moving average is $196.52 and its two-hundred day moving average is $184.24.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The company had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter in the prior year, the business posted $2.18 EPS. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. Equities research analysts anticipate that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a dividend of $1.67 per share. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.06%. International Business Machines’s payout ratio is currently 75.65%.

Institutional Investors Weigh In On International Business Machines

Hedge funds have recently bought and sold shares of the company. FPC Investment Advisory Inc. acquired a new position in shares of International Business Machines in the 1st quarter valued at approximately $26,000. ESL Trust Services LLC acquired a new position in shares of International Business Machines in the first quarter valued at approximately $28,000. Creekmur Asset Management LLC bought a new stake in shares of International Business Machines during the fourth quarter worth $29,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of International Business Machines during the fourth quarter worth $31,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in International Business Machines in the 2nd quarter valued at $36,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

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.