International Business Machines (NYSE:IBM) Stock Price Up 0.4% – Here’s What Happened

International Business Machines Co. (NYSE:IBM) shares rose 0.4% during trading on Friday . The stock traded as high as $225.06 and last traded at $224.80. Approximately 1,228,610 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 4,210,837 shares. The stock had previously closed at $223.92.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on IBM. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a report on Thursday, October 24th. DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a report on Wednesday, October 2nd. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. BMO Capital Markets lifted their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. Finally, The Goldman Sachs Group increased their target price on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $208.94.

International Business Machines Trading Up 0.7 %

The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The stock has a market capitalization of $208.58 billion, a P/E ratio of 32.84, a P/E/G ratio of 5.17 and a beta of 0.73. The business has a 50-day moving average price of $222.25 and a two-hundred day moving average price of $203.16.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter last year, the business posted $2.20 EPS. The company’s revenue was up 1.5% compared to the same quarter last year. On average, analysts expect that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were paid a $1.67 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 2.96%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Insiders Place Their Bets

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction that occurred 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 directly owns 25,390 shares in the company, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. boosted its holdings in shares of International Business Machines by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,094,106 shares of the technology company’s stock worth $241,885,000 after purchasing an additional 46,951 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of International Business Machines in the 3rd quarter valued at $24,761,000. Brass Tax Wealth Management Inc. bought a new position in shares of International Business Machines during the 3rd quarter valued at $249,000. 1ST Source Bank lifted its stake in International Business Machines by 0.6% in the third quarter. 1ST Source Bank now owns 31,244 shares of the technology company’s stock worth $6,907,000 after purchasing an additional 187 shares during the last quarter. Finally, Alternative Investment Advisors LLC. boosted its position in International Business Machines by 3.0% during the third quarter. Alternative Investment Advisors LLC. now owns 10,660 shares of the technology company’s stock valued at $2,357,000 after buying an additional 314 shares during the period. 58.96% of the stock is currently owned by institutional investors.

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.