International Business Machines (NYSE:IBM) Stock Price Up 1.6%

International Business Machines Co. (NYSE:IBM) rose 1.6% during mid-day trading on Monday . The stock traded as high as $202.17 and last traded at $202.13. Approximately 4,750,900 shares were traded during mid-day trading, an increase of 12% from the average daily volume of 4,243,871 shares. The stock had previously closed at $198.90.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on IBM shares. The Goldman Sachs Group started coverage on International Business Machines in a research note on Monday, June 24th. They set a “buy” rating and a $200.00 price objective for the company. BMO Capital Markets increased their price target on International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Jefferies Financial Group boosted their price objective on International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Royal Bank of Canada raised their target price on shares of International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, International Business Machines presently has an average rating of “Hold” and an average target price of $184.93.

International Business Machines Trading Up 1.6 %

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 has a 50-day moving average price of $186.57 and a 200-day moving average price of $181.92. The company has a market capitalization of $186.19 billion, a price-to-earnings ratio of 22.89, a P/E/G ratio of 4.50 and a beta of 0.71.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping the consensus estimate 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 period in the previous year, the business posted $2.18 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. Research analysts predict that International Business Machines Co. will post 10.09 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be given a $1.67 dividend. The ex-dividend date is Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 3.30%. International Business Machines’s dividend payout ratio is 75.65%.

Institutional Investors Weigh In On International Business Machines

Several hedge funds have recently made changes to their positions in IBM. Mosley Wealth Management bought a new stake in International Business Machines in the fourth quarter valued at about $312,000. Hodges Capital Management Inc. boosted its stake in shares of International Business Machines by 60.8% in 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 grew its holdings in shares of International Business Machines by 10.8% in the 1st quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock worth $491,000 after purchasing an additional 250 shares during the last quarter. 1832 Asset Management L.P. acquired a new stake in shares of International Business Machines during the 4th quarter worth about $3,017,000. Finally, Dimensional Fund Advisors LP lifted its holdings in International Business Machines by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,500,184 shares of the technology company’s stock valued at $736,015,000 after purchasing an additional 97,482 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

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.