International Business Machines (NYSE:IBM) Stock Price Up 0% – Here’s What Happened

Shares of International Business Machines Co. (NYSE:IBM) shot up 0% on Thursday . The stock traded as high as $256.17 and last traded at $255.91. 448,009 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 4,634,271 shares. The stock had previously closed at $255.81.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on IBM. Morgan Stanley upped their price target on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. BMO Capital Markets boosted their target price on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. UBS Group boosted their target price on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a report on Tuesday, January 14th. Oppenheimer assumed coverage on International Business Machines in a report on Tuesday. They issued an “outperform” rating and a $320.00 target price on the stock. Finally, Bank of America boosted their target price on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $231.44.

International Business Machines Stock Performance

The company has a market cap of $238.60 billion, a PE ratio of 40.27, a PEG ratio of 5.57 and a beta of 0.76. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The business has a 50-day moving average of $231.15 and a 200 day moving average of $218.49.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating 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%. Equities research analysts anticipate that International Business Machines Co. will post 10.75 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

Institutional Trading of International Business Machines

A number of hedge funds and other institutional investors have recently bought and sold shares of IBM. Norges Bank bought a new position in International Business Machines during the fourth quarter valued at approximately $1,236,176,000. International Assets Investment Management LLC lifted its stake in shares of International Business Machines by 20,324.5% in the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock valued at $600,373,000 after purchasing an additional 2,702,340 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of International Business Machines in the 4th quarter valued at approximately $592,746,000. Holocene Advisors LP bought a new stake in shares of International Business Machines in the 3rd quarter valued at approximately $573,306,000. Finally, Vanguard Group Inc. lifted its stake in shares of International Business Machines by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock valued at $20,189,023,000 after purchasing an additional 1,539,888 shares during the last quarter. 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.