International Business Machines (NYSE:IBM) Trading Down 0.9%

International Business Machines Co. (NYSE:IBM) shares dropped 0.9% on Tuesday . The company traded as low as $175.75 and last traded at $175.98. Approximately 590,507 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 4,455,511 shares. The stock had previously closed at $177.64.

Wall Street Analyst Weigh In

IBM has been the topic of a number of recent analyst reports. The Goldman Sachs Group began coverage on shares of International Business Machines in a research report on Monday, June 24th. They set a “buy” rating and a $200.00 price target on the stock. Wedbush lifted their price target on International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Morgan Stanley dropped their price target on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. UBS Group raised their target price on shares of International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a research report on Monday, April 22nd. Finally, JPMorgan Chase & Co. decreased their target price on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. 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’s stock. According to data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and an average price target of $182.53.

International Business Machines Stock Performance

The business has a fifty day simple moving average of $170.06 and a two-hundred day simple moving average of $177.19. The company has a market cap of $162.11 billion, a PE ratio of 19.93, a price-to-earnings-growth ratio of 4.34 and a beta of 0.71. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, beating 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 business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.53 billion. During the same period last year, the business earned $1.36 EPS. The company’s revenue was up 1.5% compared to the same quarter last year. Research analysts anticipate that International Business Machines Co. will post 9.9 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently announced 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 a positive change from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $6.68 dividend on an annualized basis and a yield of 3.79%. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

Institutional Trading of International Business Machines

Hedge funds have recently modified their holdings of the stock. FPC Investment Advisory Inc. acquired a new stake in shares of International Business Machines in the first quarter worth approximately $26,000. Naples Money Management LLC purchased a new stake in shares of International Business Machines during the fourth quarter worth $28,000. ESL Trust Services LLC acquired a new position in International Business Machines during the first quarter worth about $28,000. Creekmur Asset Management LLC purchased a new position in International Business Machines during the fourth quarter worth approximately $29,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in International Business Machines during the fourth quarter worth about $31,000. 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.