International Business Machines (NYSE:IBM) Shares Up 0.3% – Here’s What Happened

International Business Machines Co. (NYSE:IBM)’s share price rose 0.3% on Tuesday . The company traded as high as $250.61 and last traded at $249.24. Approximately 647,391 shares were traded during trading, a decline of 83% from the average daily volume of 3,901,451 shares. The stock had previously closed at $248.45.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Morgan Stanley boosted their target price on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Jefferies Financial Group lifted their price objective on shares of 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 reiterated an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research note on Monday, January 27th. Finally, Wedbush began coverage on shares of International Business Machines in a research note on Monday, February 3rd. They issued an “outperform” rating for the company. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, International Business Machines has an average rating of “Hold” and an average price target of $231.44.

International Business Machines Stock Performance

The firm has a 50 day moving average price of $248.65 and a 200-day moving average price of $230.90. The stock has a market capitalization of $228.90 billion, a PE ratio of 38.44, a PEG ratio of 5.81 and a beta of 0.74. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) 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%. Research analysts expect that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.71%. The ex-dividend date was Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

Insider Buying and Selling 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 shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the sale, the senior vice president now owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.18% of the company’s stock.

Institutional Trading of International Business Machines

A number of hedge funds have recently added to or reduced their stakes in the company. United Bank raised its holdings in International Business Machines by 53.3% in the 3rd quarter. United Bank now owns 5,628 shares of the technology company’s stock worth $1,244,000 after purchasing an additional 1,956 shares during the period. Quest Partners LLC raised its stake in shares of International Business Machines by 23,700.0% during the 3rd quarter. Quest Partners LLC now owns 238 shares of the technology company’s stock worth $53,000 after buying an additional 237 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of International Business Machines by 1.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 585,188 shares of the technology company’s stock valued at $129,373,000 after buying an additional 5,540 shares in the last quarter. FMR LLC grew its stake in International Business Machines by 6.0% in the 3rd quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock valued at $1,148,717,000 after acquiring an additional 294,276 shares during the period. Finally, Cadence Bank purchased a new position in International Business Machines in the 3rd quarter valued at about $10,653,000. 58.96% of the stock is owned by hedge funds and other 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.