International Business Machines (NYSE:IBM) Stock Price Down 1.9% – Here’s Why

International Business Machines Co. (NYSE:IBM)’s share price traded down 1.9% on Tuesday . The stock traded as low as $249.93 and last traded at $252.13. 1,587,595 shares traded hands during trading, a decline of 59% from the average session volume of 3,909,097 shares. The stock had previously closed at $256.90.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on IBM. UBS Group increased their price objective on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a report on Tuesday, January 14th. JPMorgan Chase & Co. increased their price target 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. Oppenheimer assumed coverage on shares of International Business Machines in a research note on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price objective for the company. Wedbush began coverage on shares of International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research report on Monday, January 27th. 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $231.44.

International Business Machines Trading Down 3.1 %

The company has a 50 day moving average price of $242.03 and a two-hundred day moving average price of $227.05. The firm has a market capitalization of $230.92 billion, a price-to-earnings ratio of 38.85, a P/E/G ratio of 5.81 and a beta of 0.74. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04.

International Business Machines (NYSE:IBM) last posted 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 net margin of 9.60% and a return on equity of 38.99%. On average, research analysts forecast that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.68%. The ex-dividend date was Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

Insiders Place Their Bets

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 owned by company 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. Meeder Asset Management Inc. lifted its stake in International Business Machines by 40.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after purchasing an additional 166 shares in the last quarter. Blue Zone Wealth Advisors LLC purchased a new position in International Business Machines during the fourth quarter worth approximately $242,000. Brady Martz Wealth Solutions LLC acquired a new position in International Business Machines during the fourth quarter worth $1,940,000. Tranquilli Financial Advisor LLC purchased a new stake in International Business Machines in the 4th quarter valued at $373,000. Finally, Truist Financial Corp increased its stake in shares of International Business Machines by 6.5% in the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock worth $178,296,000 after acquiring an additional 49,591 shares during 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.