International Business Machines (NYSE:IBM) Trading Down 0% – Here’s What Happened

International Business Machines Co. (NYSE:IBM) was down 0% during trading on Thursday . The stock traded as low as $246.80 and last traded at $251.35. Approximately 778,134 shares changed hands during trading, a decline of 80% from the average daily volume of 3,897,227 shares. The stock had previously closed at $251.35.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on IBM. 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, January 27th. The Goldman Sachs Group restated a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. Bank of America upped their price objective on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Sanford C. Bernstein lifted their target price on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Finally, Jefferies Financial Group upped 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 note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $231.44.

International Business Machines Stock Up 5.2 %

The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The business has a 50-day simple moving average of $241.29 and a 200-day simple moving average of $226.20. The company has a market cap of $242.63 billion, a PE ratio of 40.82, a P/E/G ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The business 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 dividend of $1.67 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.55%. International Business Machines’s dividend payout ratio is currently 104.21%.

Insider Activity at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the sale, the senior vice president now owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.07% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On International Business Machines

A number of institutional investors and hedge funds have recently bought and sold shares of IBM. IronOak Wealth LLC. acquired a new position in International Business Machines in the 4th quarter valued at about $235,000. Elite Financial Inc. acquired a new stake in shares of International Business Machines in the fourth quarter valued at $673,000. Wood Tarver Financial Group LLC purchased a new stake in shares of International Business Machines in the 4th quarter valued at $76,000. Kilter Group LLC acquired a new stake in shares of International Business Machines during the fourth quarter worth about $1,404,000. Finally, Castle Rock Wealth Management LLC grew its stake in shares of International Business Machines by 6.5% in the fourth quarter. Castle Rock Wealth Management LLC now owns 13,775 shares of the technology company’s stock worth $3,028,000 after acquiring an additional 841 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

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.