International Business Machines (NYSE:IBM) Shares Down 0.8% – Here’s What Happened

International Business Machines Co. (NYSE:IBM)’s stock price traded down 0.8% during trading on Wednesday . The company traded as low as $261.75 and last traded at $262.31. 1,257,926 shares were traded during trading, a decline of 73% from the average session volume of 4,698,344 shares. The stock had previously closed at $264.46.

Analyst Ratings Changes

Several research firms recently weighed in on IBM. JPMorgan Chase & Co. upped their price target on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Sanford C. Bernstein increased their target price on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Bank of America increased their price target on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Jefferies Financial Group increased their price objective on International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Finally, BMO Capital Markets raised their price target on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $225.53.

International Business Machines Stock Down 0.4 %

The business’s 50 day simple moving average is $229.26 and its 200 day simple moving average is $216.45. The firm has a market capitalization of $233.30 billion, a PE ratio of 39.36, a PEG ratio of 5.63 and a beta of 0.76. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating 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, equities research analysts forecast that International Business Machines Co. will post 10.73 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Monday, February 10th. International Business Machines’s dividend payout ratio is presently 104.21%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of IBM. Meeder Asset Management Inc. increased its stake in International Business Machines by 40.9% in the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after purchasing an additional 166 shares during the last quarter. Brady Martz Wealth Solutions LLC acquired a new stake in shares of International Business Machines during the 4th quarter valued at approximately $1,940,000. Tranquilli Financial Advisor LLC purchased a new position in shares of International Business Machines during the 4th quarter worth approximately $373,000. Philip James Wealth Mangement LLC purchased a new stake in International Business Machines in the 3rd quarter worth approximately $5,117,000. Finally, Nordea Investment Management AB grew its stake in International Business Machines by 6.5% in the 4th quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock worth $16,615,000 after acquiring an additional 4,625 shares during the period. Hedge funds and other institutional investors 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.