International Business Machines (NYSE:IBM) Stock Price Down 9.3% on Analyst Downgrade

International Business Machines Co. (NYSE:IBM) fell 9.3% during mid-day trading on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $190.00 to $185.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. International Business Machines traded as low as $165.66 and last traded at $167.06. 7,696,464 shares changed hands during trading, an increase of 59% from the average session volume of 4,836,812 shares. The stock had previously closed at $184.10.

IBM has been the subject of several other research reports. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Tuesday. BMO Capital Markets reduced their target price on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a research note on Thursday. Sanford C. Bernstein lifted their target price on shares of 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. Evercore ISI upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $165.00 to $200.00 in a research note on Friday, January 19th. Finally, Royal Bank of Canada lifted their target price on shares of International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and an average price target of $180.31.

Institutional Investors Weigh In On International Business Machines

Hedge funds have recently bought and sold shares of the stock. Naples Money Management LLC bought a new stake in International Business Machines during the fourth quarter valued at approximately $28,000. Creekmur Asset Management LLC bought a new stake in International Business Machines during the fourth quarter valued at approximately $29,000. Briaud Financial Planning Inc bought a new stake in International Business Machines during the third quarter valued at approximately $31,000. Ables Iannone Moore & Associates Inc. bought a new stake in International Business Machines during the fourth quarter valued at approximately $31,000. Finally, Stone House Investment Management LLC lifted its position in International Business Machines by 971.4% during the third quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after purchasing an additional 204 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Trading Down 8.0 %

The firm has a market capitalization of $155.20 billion, a P/E ratio of 20.72, a price-to-earnings-growth ratio of 3.58 and a beta of 0.70. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 2.22. The firm’s 50-day simple moving average is $188.36 and its 200-day simple moving average is $169.98.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.36 EPS. Analysts anticipate that International Business Machines Co. will post 10.04 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Stockholders of record on Friday, February 9th were issued a $1.66 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $6.64 dividend on an annualized basis and a dividend yield of 3.92%. International Business Machines’s payout ratio is 81.67%.

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.