International Business Machines (NYSE:IBM) Stock Price Down 1.9% – Here’s What Happened

International Business Machines Co. (NYSE:IBM)’s stock price fell 1.9% during trading on Thursday . The company traded as low as $206.35 and last traded at $207.01. 2,255,259 shares changed hands during trading, a decline of 47% from the average session volume of 4,219,087 shares. The stock had previously closed at $210.92.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on IBM shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research report on Thursday, October 24th. Bank of America upped their target price on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Bernstein Bank lifted their price target on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. Morgan Stanley decreased their price objective on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Finally, Evercore ISI raised their price objective on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $208.12.

International Business Machines Trading Down 1.1 %

The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The company’s fifty day moving average is $218.58 and its two-hundred day moving average is $193.11. The company has a market cap of $192.84 billion, a price-to-earnings ratio of 30.13, a P/E/G ratio of 4.74 and a beta of 0.71.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.20 earnings per share. On average, research analysts anticipate that International Business Machines Co. will post 10.11 EPS for the current year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.20%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 97.23%.

Insiders Place Their Bets

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines 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 completion of the transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.07% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in International Business Machines by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after purchasing an additional 5,546,855 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of International Business Machines by 20,324.5% in the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock valued at $600,373,000 after buying an additional 2,702,340 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of International Business Machines by 151.6% in 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 buying an additional 2,118,165 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in International Business Machines by 306.3% during the second quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock worth $242,441,000 after acquiring an additional 1,056,759 shares during the last quarter. Finally, Eagle Asset Management Inc. grew its stake in International Business Machines by 587.1% during the 3rd quarter. Eagle Asset Management Inc. now owns 628,213 shares of the technology company’s stock valued at $134,262,000 after acquiring an additional 536,785 shares in the last quarter. 58.96% of the stock is 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.