International Business Machines (NYSE:IBM) Trading Down 0.1% – Here’s What Happened

Shares of International Business Machines Co. (NYSE:IBM) were down 0.1% during mid-day trading on Friday . The company traded as low as $263.05 and last traded at $264.41. Approximately 974,063 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 4,593,033 shares. The stock had previously closed at $264.74.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, February 5th. Jefferies Financial Group lifted their target price on International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research report on Monday, January 27th. BMO Capital Markets boosted their price target on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. Finally, Morgan Stanley raised their price objective on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Two 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, International Business Machines currently has a consensus rating of “Hold” and a consensus target price of $231.44.

International Business Machines Stock Performance

The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The company has a market capitalization of $242.31 billion, a price-to-earnings ratio of 40.92, a price-to-earnings-growth ratio of 5.80 and a beta of 0.76. The stock has a 50-day simple moving average of $234.65 and a 200-day simple moving average of $221.26.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data 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%. On average, analysts anticipate that International Business Machines Co. will post 10.77 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders 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 annualized dividend and a dividend yield of 2.55%. International Business Machines’s dividend payout ratio (DPR) is currently 104.21%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IBM. Meeder Asset Management Inc. grew its position in International Business Machines by 40.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after acquiring an additional 166 shares during the last quarter. Blue Zone Wealth Advisors LLC purchased a new stake in shares of International Business Machines in the fourth quarter worth $242,000. Brady Martz Wealth Solutions LLC bought a new position in shares of International Business Machines during the fourth quarter valued at about $1,940,000. Tranquilli Financial Advisor LLC bought a new stake in shares of International Business Machines in the fourth quarter worth about $373,000. Finally, Philip James Wealth Mangement LLC purchased a new stake in International Business Machines in the third quarter worth about $5,117,000. 58.96% of the stock is currently owned by institutional investors.

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.