International Business Machines (NYSE:IBM) Trading Down 2.2% – Here’s What Happened

International Business Machines Co. (NYSE:IBM)’s stock price fell 2.2% during mid-day trading on Wednesday . The stock traded as low as $247.17 and last traded at $247.66. 800,074 shares were traded during mid-day trading, a decline of 80% from the average session volume of 3,904,895 shares. The stock had previously closed at $253.21.

Analysts Set New Price Targets

IBM has been the topic of a number of research reports. Wedbush began coverage on International Business Machines in a research report on Monday, February 3rd. They set an “outperform” rating on the stock. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. The Goldman Sachs Group restated a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Jefferies Financial Group increased their price target on shares of International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, International Business Machines has a consensus rating of “Hold” and an average target price of $231.44.

International Business Machines Trading Down 0.7 %

The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The stock has a market capitalization of $233.06 billion, a P/E ratio of 39.20, a P/E/G ratio of 5.81 and a beta of 0.74. The firm’s 50 day moving average price is $239.50 and its 200 day moving average price is $225.40.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. As a group, equities research analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be issued a $1.67 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.66%. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Insider Transactions at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the transaction, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.07% of the company’s stock.

Hedge Funds Weigh In On International Business Machines

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in International Business Machines by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock valued at $20,189,023,000 after acquiring an additional 1,539,888 shares during the period. State Street Corp increased its stake in shares of International Business Machines by 2.2% during the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after purchasing an additional 1,200,803 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of International Business Machines by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company’s stock valued at $4,589,145,000 after purchasing an additional 427,499 shares during the last quarter. Capital World Investors grew its stake in shares of International Business Machines by 413.5% in the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock worth $2,634,577,000 after buying an additional 9,650,534 shares during the last quarter. Finally, Northern Trust Corp increased its position in International Business Machines by 18.6% during the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock valued at $2,384,275,000 after buying an additional 1,704,209 shares in the last quarter. Institutional investors 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.