International Business Machines (NYSE:IBM) Shares Up 0.9% – Here’s Why

Shares of International Business Machines Co. (NYSE:IBM) were up 0.9% on Monday . The company traded as high as $225.96 and last traded at $224.73. Approximately 5,481,686 shares traded hands during trading, an increase of 83% from the average daily volume of 2,994,162 shares. The stock had previously closed at $222.66.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on IBM. The Goldman Sachs Group upped their target price on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Jefferies Financial Group lifted their target price on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. UBS Group upped their price target on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research report on Tuesday, January 14th. Bernstein Bank lifted their price target on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Finally, StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $216.87.

International Business Machines Stock Down 0.2 %

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 market cap of $207.40 billion, a price-to-earnings ratio of 32.65, a P/E/G ratio of 4.81 and a beta of 0.74. The stock’s 50-day moving average is $223.09 and its 200-day moving average is $211.48.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter in the prior year, the firm earned $2.20 EPS. The business’s revenue was up 1.5% on a year-over-year basis. On average, analysts anticipate that International Business Machines Co. will post 10.16 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were paid a $1.67 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 2.98%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Insider Activity

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.07% of the company’s stock.

Hedge Funds Weigh In On International Business Machines

Several large investors have recently added to or reduced their stakes in IBM. Hazlett Burt & Watson Inc. raised its holdings in shares of International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after purchasing an additional 116 shares during the last quarter. Hara Capital LLC bought a new stake in International Business Machines in the 3rd quarter worth about $29,000. Avondale Wealth Management increased its stake in International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after buying an additional 56 shares during the last quarter. Oliver Lagore Vanvalin Investment Group bought a new position in shares of International Business Machines during the 2nd quarter worth approximately $36,000. Finally, Modus Advisors LLC purchased a new position in shares of International Business Machines in the 4th quarter worth approximately $40,000. 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.