International Business Machines (NYSE:IBM) Trading 0.3% Higher – Here’s What Happened

International Business Machines Co. (NYSE:IBM)’s stock price shot up 0.3% during mid-day trading on Wednesday . The stock traded as high as $250.54 and last traded at $251.05. Approximately 713,298 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 4,095,739 shares. The stock had previously closed at $250.34.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on IBM. Erste Group Bank raised International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Jefferies Financial Group cut their target price on International Business Machines from $270.00 to $265.00 and set a “hold” rating for the company in a research report on Monday. Oppenheimer began coverage on International Business Machines in a research note on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price objective for the company. The Goldman Sachs Group restated a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research report on Monday, January 27th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $231.13.

International Business Machines Stock Performance

The firm has a market cap of $233.48 billion, a P/E ratio of 39.28, a PEG ratio of 5.81 and a beta of 0.74. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The firm has a fifty day moving average of $250.52 and a 200-day moving average of $232.13.

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

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were given a $1.67 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.65%. International Business Machines’s dividend payout ratio is currently 104.21%.

Insider Activity at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the transaction, the senior vice president now owns 45,007 shares in the company, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is currently owned by corporate insiders.

Institutional Trading of International Business Machines

Several hedge funds have recently added to or reduced their stakes in the business. Capital World Investors lifted its holdings in shares of International Business Machines by 413.5% during the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock valued at $2,634,577,000 after purchasing an additional 9,650,534 shares in the last quarter. Norges Bank acquired a new stake in International Business Machines during the 4th quarter worth approximately $1,236,176,000. Raymond James Financial Inc. bought a new position in International Business Machines in the fourth quarter valued at approximately $592,746,000. Northern Trust Corp boosted its holdings in shares of International Business Machines by 18.6% in the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock valued at $2,384,275,000 after buying an additional 1,704,209 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of International Business Machines by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock worth $20,189,023,000 after acquiring an additional 1,539,888 shares in the last quarter. Institutional investors and hedge funds 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.