International Business Machines Co. (NYSE:IBM – Get Free Report)’s share price shot up 0.3% on Wednesday . The stock traded as high as $168.22 and last traded at $167.90. 816,944 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 4,800,351 shares. The stock had previously closed at $167.36.
Analyst Ratings Changes
IBM has been the subject of several research reports. JPMorgan Chase & Co. reduced their price objective on International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Royal Bank of Canada upped their price objective on International Business Machines from $179.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. UBS Group increased their price objective on International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a research report on Monday, April 22nd. Sanford C. Bernstein boosted their target price on shares of International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a research report on Thursday, March 7th. Finally, StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Three analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to MarketBeat, International Business Machines currently has a consensus rating of “Hold” and an average target price of $181.29.
International Business Machines Price Performance
The firm has a market cap of $154.59 billion, a price-to-earnings ratio of 19.03, a price-to-earnings-growth ratio of 4.12 and a beta of 0.74. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32. The company’s 50-day moving average is $183.01 and its 200-day moving average is $172.87.
International Business Machines (NYSE:IBM – Get Free Report) last issued its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. During the same quarter last year, the business posted $1.36 EPS. The company’s revenue was up 1.5% compared to the same quarter last year. Equities research analysts predict that International Business Machines Co. will post 9.92 earnings per share for the current year.
International Business Machines Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be paid a $1.67 dividend. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date is Thursday, May 9th. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.
Hedge Funds Weigh In On International Business Machines
Institutional investors have recently added to or reduced their stakes in the stock. FPC Investment Advisory Inc. acquired a new position in shares of International Business Machines during the first quarter worth $26,000. Naples Money Management LLC acquired a new position in International Business Machines in the 4th quarter worth about $28,000. ESL Trust Services LLC bought a new position in International Business Machines in the first quarter valued at about $28,000. Creekmur Asset Management LLC acquired a new stake in shares of International Business Machines during the fourth quarter valued at about $29,000. Finally, Briaud Financial Planning Inc bought a new stake in shares of International Business Machines during the third quarter worth about $31,000. 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.