International Business Machines (NYSE:IBM) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of International Business Machines (NYSE:IBM) from a buy rating to a hold rating in a report published on Thursday.

Several other equities research analysts have also recently weighed in on IBM. Bank of America increased their price objective on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a report on Monday, January 27th. Oppenheimer assumed coverage on International Business Machines in a research report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price objective for the company. BMO Capital Markets upped their target price on International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Finally, Morgan Stanley lifted their target price on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $231.44.

International Business Machines Stock Down 0.2 %

Shares of NYSE:IBM opened at $252.63 on Thursday. The firm has a market cap of $234.25 billion, a P/E ratio of 39.41, a P/E/G ratio of 5.81 and a beta of 0.76. International Business Machines has a 12-month low of $162.62 and a 12-month high of $265.72. The business has a fifty day simple moving average of $238.37 and a 200 day simple moving average of $224.36. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping 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%. Analysts predict that International Business Machines will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Monday, February 10th. International Business Machines’s payout ratio is presently 104.21%.

Hedge Funds Weigh In On International Business Machines

Hedge funds have recently added to or reduced their stakes in the stock. Capital World Investors grew its holdings in International Business Machines by 413.5% during the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock worth $2,634,577,000 after buying an additional 9,650,534 shares in the last quarter. Norges Bank bought a new stake in shares of International Business Machines in the 4th quarter worth $1,236,176,000. Raymond James Financial Inc. purchased a new stake in shares of International Business Machines in the fourth quarter valued at about $592,746,000. Holocene Advisors LP bought a new position in shares of International Business Machines during the third quarter valued at about $573,306,000. Finally, Northern Trust Corp boosted its holdings in International Business Machines by 18.6% during the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock worth $2,384,275,000 after purchasing an additional 1,704,209 shares during the last quarter. Institutional investors and hedge funds 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.