International Business Machines (NYSE:IBM) Stock Price Down 0.3%

International Business Machines Co. (NYSE:IBM)’s stock price fell 0.3% during trading on Thursday . The company traded as low as $208.26 and last traded at $209.31. 1,098,317 shares were traded during mid-day trading, a decline of 74% from the average session volume of 4,204,257 shares. The stock had previously closed at $209.89.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on IBM. UBS Group raised their price objective on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. The Goldman Sachs Group started coverage on International Business Machines in a research note on Monday, June 24th. They issued a “buy” rating and a $200.00 price target on the stock. BMO Capital Markets increased their price objective on International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Evercore ISI lifted their target price on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, International Business Machines has an average rating of “Hold” and a consensus target price of $188.60.

International Business Machines Price Performance

The stock has a market cap of $197.85 billion, a PE ratio of 24.33, a P/E/G ratio of 4.67 and a beta of 0.70. The business has a fifty day simple moving average of $192.83 and a two-hundred day simple moving average of $183.40. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20.

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

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s payout ratio is currently 75.65%.

Institutional Trading of International Business Machines

Hedge funds have recently made changes to their positions in the stock. Mosley Wealth Management bought a new stake in International Business Machines in the fourth quarter worth $312,000. Hodges Capital Management Inc. increased its stake in International Business Machines by 60.8% during the 1st quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock valued at $3,921,000 after purchasing an additional 7,768 shares in the last quarter. Burns J W & Co. Inc. NY raised its holdings in International Business Machines by 10.8% in the first quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock worth $491,000 after buying an additional 250 shares during the last quarter. 1832 Asset Management L.P. bought a new position in shares of International Business Machines in the fourth quarter worth approximately $3,017,000. Finally, Westwood Holdings Group Inc. increased its position in shares of International Business Machines by 19.9% during the fourth quarter. Westwood Holdings Group Inc. now owns 115,321 shares of the technology company’s stock valued at $18,861,000 after acquiring an additional 19,175 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

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.