International Business Machines (NYSE:IBM) Stock Price Down 0.5%

International Business Machines Co. (NYSE:IBM) fell 0.5% during trading on Wednesday . The stock traded as low as $175.91 and last traded at $176.45. 467,442 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 4,510,820 shares. The stock had previously closed at $177.30.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of recent analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $190.00 price target on shares of International Business Machines in a report on Thursday, May 16th. The Goldman Sachs Group started coverage on International Business Machines in a research report on Monday, June 24th. They set a “buy” rating and a $200.00 price target for the company. Jefferies Financial Group lowered their price target on International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a report on Tuesday, April 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of International Business Machines in a report on Wednesday, May 22nd. Finally, Sanford C. Bernstein raised their target price on shares of International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a research note on Thursday, March 7th. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $182.53.

International Business Machines Stock Down 1.2 %

The business’s 50 day simple moving average is $169.72 and its 200 day simple moving average is $176.76. The company has a market capitalization of $160.98 billion, a PE ratio of 19.98, a price-to-earnings-growth ratio of 4.27 and a beta of 0.71. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32.

International Business Machines (NYSE:IBM) last posted 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 net margin of 13.18% and a return on equity of 40.21%. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. During the same quarter last year, the business posted $1.36 EPS. The company’s revenue was up 1.5% on a year-over-year basis. As a group, analysts forecast that International Business Machines Co. will post 9.9 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were paid a $1.67 dividend. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a yield of 3.81%. The ex-dividend date was Thursday, May 9th. International Business Machines’s dividend payout ratio is currently 75.65%.

Hedge Funds Weigh In On International Business Machines

Institutional investors and hedge funds have recently bought and sold shares of the business. FPC Investment Advisory Inc. purchased a new position in International Business Machines during the first quarter valued at approximately $26,000. ESL Trust Services LLC acquired a new position in shares of International Business Machines in the first quarter worth $28,000. Naples Money Management LLC purchased a new stake in shares of International Business Machines during the fourth quarter worth $28,000. Creekmur Asset Management LLC purchased a new position in International Business Machines in the fourth quarter valued at about $29,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in International Business Machines in the 4th quarter worth about $31,000. Hedge funds and other institutional investors 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.