International Business Machines (NYSE:IBM) Shares Up 0.4% – Here’s Why

Shares of International Business Machines Co. (NYSE:IBM) were up 0.4% on Tuesday . The stock traded as high as $241.14 and last traded at $240.03. Approximately 458,779 shares traded hands during trading, a decline of 89% from the average daily volume of 4,200,036 shares. The stock had previously closed at $239.06.

Analyst Ratings Changes

A number of brokerages recently commented on IBM. Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. JPMorgan Chase & Co. boosted their price objective on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Morgan Stanley upped their price target on International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Oppenheimer began coverage on shares of International Business Machines in a report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price objective for the company. Finally, Sanford C. Bernstein increased their target price on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $232.75.

International Business Machines Price Performance

The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The firm has a fifty day moving average of $248.67 and a two-hundred day moving average of $233.14. The stock has a market capitalization of $223.41 billion, a P/E ratio of 37.59, a P/E/G ratio of 5.81 and a beta of 0.67.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. On average, analysts predict that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s payout ratio is currently 104.21%.

Insider Buying and Selling at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the transaction, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On International Business Machines

Hedge funds and other institutional investors have recently bought and sold shares of the business. Compass Financial Services Inc purchased a new stake in shares of International Business Machines in the fourth quarter worth about $26,000. Vision Financial Markets LLC purchased a new position in shares of International Business Machines in the fourth quarter valued at approximately $31,000. Avondale Wealth Management boosted its stake in International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after purchasing an additional 56 shares during the last quarter. Valued Wealth Advisors LLC grew its stake in International Business Machines by 134.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after acquiring an additional 90 shares in the last quarter. Finally, Rialto Wealth Management LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at approximately $35,000. 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.