International Business Machines (NYSE:IBM) Shares Down 1.3% – Time to Sell?

International Business Machines Co. (NYSE:IBM) traded down 1.3% during mid-day trading on Thursday . The stock traded as low as $246.01 and last traded at $246.35. 791,158 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 3,899,496 shares. The stock had previously closed at $249.63.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. BMO Capital Markets raised their price objective on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. Bank of America lifted their price target on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Morgan Stanley raised their target price on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Jefferies Financial Group upped their price target on International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and an average price target of $231.44.

International Business Machines Stock Performance

The business’s 50-day moving average is $243.21 and its 200 day moving average is $227.58. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The company has a market cap of $226.03 billion, a PE ratio of 38.00, a PEG ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. On average, equities research analysts predict that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were issued a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.74%. The ex-dividend date was Monday, February 10th. International Business Machines’s dividend payout ratio is 104.21%.

Insider Buying and Selling

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the sale, the senior vice president now owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.07% of the stock is owned by insiders.

Institutional Trading of International Business Machines

Institutional investors have recently modified their holdings of the company. Meeder Asset Management Inc. lifted its holdings in International Business Machines by 40.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after buying an additional 166 shares during the period. Blue Zone Wealth Advisors LLC purchased a new stake in International Business Machines in the fourth quarter worth $242,000. Brady Martz Wealth Solutions LLC bought a new stake in International Business Machines in the fourth quarter valued at $1,940,000. Tranquilli Financial Advisor LLC purchased a new position in International Business Machines during the 4th quarter valued at $373,000. Finally, Truist Financial Corp raised its holdings in International Business Machines by 6.5% in the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock worth $178,296,000 after purchasing an additional 49,591 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

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.