International Business Machines (NYSE:IBM) Stock Price Up 0.6% – Here’s Why

Shares of International Business Machines Co. (NYSE:IBM) shot up 0.6% during trading on Tuesday . The company traded as high as $237.37 and last traded at $236.73. 679,549 shares traded hands during trading, a decline of 84% from the average session volume of 4,182,172 shares. The stock had previously closed at $235.26.

Analysts Set New Price Targets

IBM has been the subject of several analyst reports. Bernstein Bank raised their price target on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Royal Bank of Canada upped their price target on International Business Machines from $211.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. BMO Capital Markets upped their target price on International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Finally, Stifel Nicolaus raised their price target on shares of International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $198.41.

International Business Machines Stock Performance

The firm has a market cap of $214.29 billion, a PE ratio of 26.81, a PEG ratio of 5.21 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 has a 50-day simple moving average of $208.71 and a two-hundred day simple moving average of $187.93.

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 the consensus estimate of $2.16 by $0.27. The company had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.18 earnings per share. As a group, equities 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a $1.67 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 2.86%. International Business Machines’s payout ratio is 75.65%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. von Borstel & Associates Inc. purchased a new stake in shares of International Business Machines during the 3rd quarter valued at approximately $418,000. Aspect Partners LLC lifted its position in shares of International Business Machines by 11.2% during the third quarter. Aspect Partners LLC now owns 554 shares of the technology company’s stock worth $122,000 after acquiring an additional 56 shares in the last quarter. Zhang Financial LLC boosted its holdings in shares of International Business Machines by 0.4% in the third quarter. Zhang Financial LLC now owns 17,391 shares of the technology company’s stock worth $3,845,000 after acquiring an additional 74 shares during the period. Prairie Sky Financial Group LLC purchased a new position in shares of International Business Machines in the third quarter valued at $254,000. Finally, Creative Planning raised its stake in shares of International Business Machines by 5.1% during the 3rd quarter. Creative Planning now owns 300,740 shares of the technology company’s stock valued at $66,488,000 after purchasing an additional 14,677 shares during the period. Institutional investors 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.