June 24, 2024

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International Business Machines (NYSE:IBM) Shares Up 0.1%

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International Business Machines Co. (NYSE:IBM – Get Free Report) was up 0.1% during trading on Monday . The company traded as high as $172.01 and last traded at $170.89. Approximately 2,587,800 shares were traded during trading, a decline of 46% from the average daily volume of 4,752,085 shares. The stock had previously closed at $170.67.

Analysts Set New Price Targets

IBM has been the subject of a number of recent analyst reports. Stifel Nicolaus reiterated a “buy” rating and issued a $190.00 price target on shares of International Business Machines in a research report on Thursday, May 16th. UBS Group upped their target price on shares of International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a report on Monday, April 22nd. Jefferies Financial Group decreased their price target on International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a report on Tuesday, April 23rd. Wedbush upped their price objective on International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Finally, Bank of America lifted their target price on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, International Business Machines has a consensus rating of “Hold” and an average price target of $181.29.

Read Our Latest Analysis on IBM

International Business Machines Stock Performance

The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13. The business’s fifty day moving average price is $178.23 and its two-hundred day moving average price is $174.54. The stock has a market capitalization of $155.90 billion, a P/E ratio of 19.22, a P/E/G ratio of 4.21 and a beta of 0.74.

International Business Machines (NYSE:IBM – Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.09. The company had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.36 earnings per share. As a group, sell-side analysts forecast that International Business Machines Co. will post 9.91 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.94%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date is Thursday, May 9th. International Business Machines’s payout ratio is presently 75.65%.

Institutional Investors Weigh In On International Business Machines

Several institutional investors have recently made changes to their positions in IBM. Cetera Advisor Networks LLC raised its holdings in shares of International Business Machines by 6.2% in the first quarter. Cetera Advisor Networks LLC now owns 143,860 shares of the technology company’s stock worth $27,471,000 after buying an additional 8,398 shares during the period. Cetera Advisors LLC lifted its position in shares of International Business Machines by 60.2% during the first quarter. Cetera Advisors LLC now owns 119,467 shares of the technology company’s stock worth $22,814,000 after purchasing an additional 44,894 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of International Business Machines by 340.3% during the first quarter. Cetera Investment Advisers now owns 293,448 shares of the technology company’s stock valued at $56,037,000 after purchasing an additional 226,802 shares during the period. PGGM Investments grew its holdings in shares of International Business Machines by 115.6% in the first quarter. PGGM Investments now owns 50,732 shares of the technology company’s stock worth $9,688,000 after purchasing an additional 27,201 shares during the last quarter. Finally, First City Capital Management Inc. increased its stake in International Business Machines by 1.5% in the 1st quarter. First City Capital Management Inc. now owns 10,262 shares of the technology company’s stock worth $1,960,000 after buying an additional 151 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Company Profile

(Get Free Report)

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.

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