International Business Machines (NYSE:IBM) Trading 0.4% Higher Following Dividend Announcement

Shares of International Business Machines Co. (NYSE:IBM) shot up 0.4% on Tuesday after the company announced a dividend. The stock traded as high as $225.07 and last traded at $225.10. 700,976 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 3,461,317 shares. The stock had previously closed at $224.13.

The newly announced dividend which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be paid a $1.67 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.59%. International Business Machines’s payout ratio is currently 97.23%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a report on Wednesday, October 2nd. UBS Group upped their price target on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research report on Tuesday, January 14th. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research note on Monday. Stifel Nicolaus increased their target price on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Bernstein Bank boosted their price target on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and an average target price of $225.53.

International Business Machines Stock Up 12.9 %

The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The company has a market cap of $238.76 billion, a P/E ratio of 37.59, a PEG ratio of 4.78 and a beta of 0.74. The firm’s 50-day simple moving average is $225.24 and its 200 day simple moving average is $213.55.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. On average, research analysts forecast that International Business Machines Co. will post 10.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.07% of the company’s stock.

Hedge Funds Weigh In On International Business Machines

A number of institutional investors have recently added to or reduced their stakes in the company. Compass Financial Services Inc bought a new position in International Business Machines during the 4th quarter worth $26,000. Hazlett Burt & Watson Inc. increased its holdings in International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after buying an additional 116 shares during the period. Hara Capital LLC bought a new stake in shares of International Business Machines during the 3rd quarter worth approximately $29,000. Avondale Wealth Management boosted its position in shares of International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after acquiring an additional 56 shares in the last quarter. Finally, Valued Wealth Advisors LLC increased its stake in International Business Machines by 134.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after acquiring an additional 90 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

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.