International Business Machines (NYSE:IBM) Trading Down 0.8% – Time to Sell?

International Business Machines Co. (NYSE:IBM)’s share price was down 0.8% during trading on Wednesday . The stock traded as low as $260.09 and last traded at $260.97. Approximately 576,123 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 4,599,243 shares. The stock had previously closed at $263.07.

Analyst Ratings Changes

A number of analysts have issued reports on IBM shares. BMO Capital Markets raised their price target on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a report on Monday, January 27th. Jefferies Financial Group lifted their price target on shares of International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Oppenheimer initiated coverage on International Business Machines in a research report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their price target on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $231.44.

International Business Machines Stock Performance

The firm has a market capitalization of $243.26 billion, a price-to-earnings ratio of 41.02, a price-to-earnings-growth ratio of 5.73 and a beta of 0.76. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The stock’s fifty day moving average is $233.32 and its two-hundred day moving average is $220.66.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. Analysts forecast that International Business Machines Co. will post 10.77 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date is Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

Institutional Trading of International Business Machines

Hedge funds have recently made changes to their positions in the stock. Formidable Asset Management LLC lifted its position in shares of International Business Machines by 73.9% during the fourth quarter. Formidable Asset Management LLC now owns 12,684 shares of the technology company’s stock worth $2,788,000 after purchasing an additional 5,389 shares during the last quarter. Retirement Planning Group LLC NY acquired a new position in shares of International Business Machines in the 4th quarter worth approximately $228,000. Cache Advisors LLC bought a new stake in shares of International Business Machines in the 4th quarter valued at approximately $305,000. Pinney & Scofield Inc. acquired a new stake in shares of International Business Machines during the 4th quarter valued at approximately $181,000. Finally, Parr Mcknight Wealth Management Group LLC bought a new position in International Business Machines during the fourth quarter worth $705,000. Institutional investors and hedge funds 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.