International Business Machines (NYSE:IBM) Trading Down 0.7%

International Business Machines Co. (NYSE:IBM) shares fell 0.7% during mid-day trading on Wednesday . The company traded as low as $170.41 and last traded at $171.34. 462,896 shares traded hands during trading, a decline of 90% from the average session volume of 4,564,146 shares. The stock had previously closed at $172.60.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on IBM shares. Sanford C. Bernstein raised their price target on International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research note on Thursday, March 7th. BMO Capital Markets reduced their target price on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a research note on Thursday, April 25th. UBS Group increased their price target on shares of International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a research note on Monday, April 22nd. Wedbush lifted their price objective on shares of International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Finally, The Goldman Sachs Group began coverage on International Business Machines in a report on Monday. They set a “buy” rating and a $200.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, International Business Machines has a consensus rating of “Hold” and an average price target of $182.53.

International Business Machines Stock Down 0.3 %

The business’s fifty day simple moving average is $170.56 and its 200 day simple moving average is $176.40. The stock has a market cap of $158.10 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 4.26 and a beta of 0.72. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. During the same period in the previous year, the firm earned $1.36 earnings per share. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. Equities analysts forecast that International Business Machines Co. will post 9.9 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were issued a dividend of $1.67 per share. The ex-dividend date was Thursday, May 9th. This represents a $6.68 dividend on an annualized basis and a yield of 3.88%. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s payout ratio is currently 75.65%.

Institutional Trading of International Business Machines

Several hedge funds have recently added to or reduced their stakes in IBM. Norges Bank bought a new position in shares of International Business Machines during the 4th quarter valued at about $1,019,009,000. Vanguard Group Inc. boosted its holdings in shares of International Business Machines by 6.7% in the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after buying an additional 5,546,855 shares during the period. International Assets Investment Management LLC increased its position in shares of International Business Machines by 15,439.1% during the fourth quarter. International Assets Investment Management LLC now owns 2,653,462 shares of the technology company’s stock worth $433,974,000 after acquiring an additional 2,636,386 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of International Business Machines by 151.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after acquiring an additional 2,118,165 shares during the period. Finally, Morgan Stanley lifted its position in International Business Machines by 13.4% in the 3rd quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock valued at $2,280,968,000 after acquiring an additional 1,919,490 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.