International Business Machines (NYSE:IBM) Stock Price Down 0.6% – Should You Sell?

International Business Machines Co. (NYSE:IBM) dropped 0.6% on Monday . The company traded as low as $213.16 and last traded at $213.43. Approximately 862,072 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 4,229,652 shares. The stock had previously closed at $214.67.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on IBM shares. Bernstein Bank upped their target price 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. Stifel Nicolaus upped their target price on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Evercore ISI upped their target price on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a research note on Wednesday, October 2nd. Finally, The Goldman Sachs Group upped their target price on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $208.12.

International Business Machines Price Performance

The company has a 50-day moving average price of $215.58 and a two-hundred day moving average price of $190.46. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The company has a market cap of $196.42 billion, a PE ratio of 23.53, a P/E/G ratio of 4.84 and a beta of 0.70.

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, topping the consensus estimate of $2.27 by $0.03. The company had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The company’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.20 earnings per share. Sell-side analysts expect that International Business Machines Co. will post 10.13 earnings per share for the current fiscal year.

Institutional Trading of International Business Machines

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Susquehanna Fundamental Investments LLC purchased a new stake in International Business Machines during the 2nd quarter worth approximately $7,160,000. Smith Thornton Advisors LLC bought a new stake in shares of International Business Machines in the second quarter worth $702,000. Retirement Planning Group LLC acquired a new stake in International Business Machines in the third quarter valued at $618,000. GAMMA Investing LLC boosted its stake in International Business Machines by 42.4% during the 2nd quarter. GAMMA Investing LLC now owns 9,370 shares of the technology company’s stock valued at $1,621,000 after acquiring an additional 2,788 shares during the last quarter. Finally, Anderson Hoagland & Co. acquired a new position in International Business Machines during the 3rd quarter worth $4,050,000. 58.96% of the stock is owned by hedge funds and other 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.