International Business Machines Co. (NYSE:IBM) Sees Large Decrease in Short Interest

International Business Machines Co. (NYSE:IBM) saw a large decline in short interest in January. As of January 31st, there was short interest totalling 19,620,000 shares, a decline of 6.7% from the January 15th total of 21,030,000 shares. Based on an average trading volume of 4,330,000 shares, the days-to-cover ratio is currently 4.5 days.

Hedge Funds Weigh In On International Business Machines

A number of large investors have recently modified their holdings of IBM. Cornerstone Advisory LLC lifted its position in International Business Machines by 10.3% during the 4th quarter. Cornerstone Advisory LLC now owns 3,523 shares of the technology company’s stock valued at $774,000 after purchasing an additional 329 shares during the period. Inspire Trust Co. N.A. raised its position in shares of International Business Machines by 2.9% during the 4th quarter. Inspire Trust Co. N.A. now owns 17,000 shares of the technology company’s stock valued at $3,737,000 after acquiring an additional 475 shares during the last quarter. Novem Group acquired a new position in International Business Machines in the fourth quarter valued at about $1,380,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of International Business Machines by 15.1% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 176,395 shares of the technology company’s stock valued at $38,777,000 after acquiring an additional 23,123 shares during the period. Finally, Elequin Capital LP bought a new stake in International Business Machines in the fourth quarter valued at approximately $286,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

IBM has been the topic of a number of research analyst reports. UBS Group boosted their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research report on Tuesday, January 14th. Oppenheimer started coverage on International Business Machines in a research report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 target price on the stock. 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 report on Thursday, January 30th. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a report on Monday, January 27th. Finally, StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, February 5th. 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $231.44.

International Business Machines Stock Performance

Shares of IBM stock traded up $0.22 during mid-day trading on Tuesday, reaching $261.50. The stock had a trading volume of 758,347 shares, compared to its average volume of 4,618,493. The firm has a market cap of $241.80 billion, a PE ratio of 40.73, a P/E/G ratio of 5.57 and a beta of 0.76. 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’s 50 day simple moving average is $232.70 and its 200 day simple moving average is $220.14. International Business Machines has a one year low of $162.62 and a one year high of $265.72.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share 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%. On average, analysts forecast that International Business Machines will post 10.75 EPS 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 paid a $1.67 dividend. The ex-dividend date is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.55%. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

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.