International Business Machines (NYSE:IBM) Shares Down 0.5% – Here’s Why

International Business Machines Co. (NYSE:IBM) traded down 0.5% on Wednesday . The stock traded as low as $231.41 and last traded at $231.90. 348,616 shares traded hands during trading, a decline of 92% from the average session volume of 4,176,359 shares. The stock had previously closed at $232.96.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. BMO Capital Markets boosted their target price on International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Jefferies Financial Group upped their price objective on International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Royal Bank of Canada upped their price objective on International Business Machines from $211.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Finally, Bernstein Bank increased their price target on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $203.06.

International Business Machines Stock Performance

The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The firm has a 50-day moving average of $211.38 and a two-hundred day moving average of $188.85. The company has a market capitalization of $212.76 billion, a PE ratio of 26.22, a PEG ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.27. The firm had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.18 EPS. Research analysts anticipate that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a $1.67 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 2.88%. International Business Machines’s dividend payout ratio is presently 75.65%.

Hedge Funds Weigh In On International Business Machines

A number of hedge funds have recently bought and sold shares of IBM. FPC Investment Advisory Inc. acquired a new stake in International Business Machines in the 1st quarter valued at $26,000. ESL Trust Services LLC acquired a new stake in shares of International Business Machines in the first quarter valued at about $28,000. Financial Synergies Wealth Advisors Inc. grew its position in shares of International Business Machines by 164.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after purchasing an additional 123 shares during the period. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of International Business Machines in the second quarter valued at about $36,000. Finally, Wolff Wiese Magana LLC grew its position in shares of International Business Machines by 37.0% in the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after purchasing an additional 60 shares during the period. 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.