International Business Machines (NYSE:IBM) Trading Down 0.1% – Here’s Why

International Business Machines Co. (NYSE:IBM) dropped 0.1% on Thursday . The company traded as low as $217.38 and last traded at $219.91. Approximately 572,737 shares traded hands during trading, a decline of 81% from the average daily volume of 2,944,885 shares. The stock had previously closed at $220.03.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on IBM shares. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. BMO Capital Markets lifted their price target on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research note on Thursday, October 24th. Bank of America boosted their price target on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Jefferies Financial Group raised their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $215.81.

International Business Machines Stock Performance

The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The company has a 50-day moving average price of $222.34 and a two-hundred day moving average price of $210.16. The stock has a market capitalization of $205.02 billion, a P/E ratio of 32.29, a price-to-earnings-growth ratio of 4.71 and a beta of 0.74.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company’s revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.20 earnings per share. On average, equities analysts forecast that International Business Machines Co. will post 10.16 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were issued a dividend of $1.67 per share. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 3.01%. International Business Machines’s dividend payout ratio is currently 97.23%.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the sale, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.07% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Hazlett Burt & Watson Inc. lifted its position in International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after acquiring an additional 116 shares in the last quarter. Hara Capital LLC purchased a new position in International Business Machines during the 3rd quarter worth $29,000. Avondale Wealth Management grew its stake in shares of International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after acquiring an additional 56 shares in the last quarter. Modus Advisors LLC purchased a new stake in shares of International Business Machines in the fourth quarter valued at about $40,000. Finally, Capital Performance Advisors LLP bought a new position in shares of International Business Machines during the third quarter valued at about $43,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

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.