International Business Machines (NYSE:IBM) Trading Up 3.2%

International Business Machines Co. (NYSE:IBM) shares were up 3.2% during trading on Monday . The stock traded as high as $178.46 and last traded at $177.93. Approximately 1,322,484 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 4,572,768 shares. The stock had previously closed at $172.46.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on IBM shares. Jefferies Financial Group cut their target price on International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a research note on Tuesday, April 23rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $190.00 price objective on shares of International Business Machines in a research report on Thursday, May 16th. UBS Group lifted their price objective on International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a research report on Monday, April 22nd. Sanford C. Bernstein lifted 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 report on Thursday, March 7th. Finally, Wedbush lifted their target price on shares of International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $182.53.

International Business Machines Stock Performance

The business’s 50 day simple moving average is $170.56 and its two-hundred day simple moving average is $176.40. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32. The firm has a market capitalization of $157.88 billion, a PE ratio of 19.46, a price-to-earnings-growth ratio of 4.26 and a beta of 0.72.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) 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 firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. During the same quarter in the previous year, the firm posted $1.36 EPS. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. Research analysts expect that International Business Machines Co. will post 9.9 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were given a dividend of $1.67 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date was Thursday, May 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.89%. International Business Machines’s payout ratio is presently 75.65%.

Institutional Investors Weigh In On International Business Machines

A number of hedge funds have recently modified their holdings of the business. Desjardins Global Asset Management Inc. raised its holdings in shares of International Business Machines by 1.4% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 3,940 shares of the technology company’s stock worth $644,000 after purchasing an additional 54 shares during the last quarter. Arden Trust Co raised its holdings in shares of International Business Machines by 2.8% during the first quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock worth $377,000 after purchasing an additional 54 shares during the last quarter. Calamos Wealth Management LLC raised its holdings in shares of International Business Machines by 2.8% during the fourth quarter. Calamos Wealth Management LLC now owns 2,007 shares of the technology company’s stock worth $328,000 after purchasing an additional 55 shares during the last quarter. Avion Wealth raised its holdings in shares of International Business Machines by 6.2% during the fourth quarter. Avion Wealth now owns 964 shares of the technology company’s stock worth $158,000 after purchasing an additional 56 shares during the last quarter. Finally, Chicago Partners Investment Group LLC raised its holdings in shares of International Business Machines by 0.8% during the fourth quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock worth $1,309,000 after purchasing an additional 58 shares during the last quarter. 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.