International Business Machines (NYSE:IBM) Trading Up 0.2% After Better-Than-Expected Earnings

International Business Machines Co. (NYSE:IBM)’s stock price was up 0.2% during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $233.19 and last traded at $232.79. Approximately 930,312 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 4,167,125 shares. The stock had previously closed at $232.25.

The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. The business had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same period last year, the business earned $2.20 EPS.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Morgan Stanley cut their price objective on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research report on Thursday. Stifel Nicolaus upped their price target on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Evercore ISI upped their target price on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Finally, The Goldman Sachs Group raised their price target on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, International Business Machines currently has an average rating of “Hold” and a consensus price target of $208.12.

Institutional Trading of International Business Machines

Several hedge funds have recently modified their holdings of IBM. FPC Investment Advisory Inc. bought a new stake in shares of International Business Machines during the first quarter worth $26,000. ESL Trust Services LLC acquired a new stake in International Business Machines in the 1st quarter valued at about $28,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of International Business Machines in the second quarter worth about $36,000. Wolff Wiese Magana LLC lifted its position in shares of International Business Machines by 37.0% during the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after purchasing an additional 60 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC grew its stake in shares of International Business Machines by 47.2% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 240 shares of the technology company’s stock valued at $53,000 after purchasing an additional 77 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Down 1.5 %

The business’s fifty day moving average is $215.16 and its two-hundred day moving average is $190.25. The firm has a market cap of $197.51 billion, a price-to-earnings ratio of 24.71, a price-to-earnings-growth 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.

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.