International Business Machines (NYSE:IBM) Stock Price Down 0.7%

International Business Machines Co. (NYSE:IBM – Get Free Report) shares were down 0.7% during mid-day trading on Friday . The company traded as low as $183.54 and last traded at $183.99. Approximately 673,092 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 4,398,235 shares. The stock had previously closed at $185.22.

Analyst Upgrades and Downgrades

IBM has been the subject of a number of recent research reports. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of International Business Machines in a research note on Wednesday, May 22nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $190.00 price target on shares of International Business Machines in a research report on Thursday, May 16th. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Wedbush raised their target price on International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Finally, BMO Capital Markets decreased their price target on International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a report on Thursday, April 25th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $182.53.

Read Our Latest Analysis on International Business Machines

International Business Machines Stock Down 1.1 %

The firm has a market capitalization of $168.33 billion, a PE ratio of 20.75, a P/E/G ratio of 4.57 and a beta of 0.71. The stock has a 50-day simple moving average of $172.83 and a 200-day simple moving average of $178.30. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32.

International Business Machines (NYSE:IBM – Get Free Report) last released its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. During the same period last year, the firm earned $1.36 EPS. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. Analysts forecast that International Business Machines Co. will post 9.89 EPS for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Thursday, May 9th. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a dividend yield of 3.65%. International Business Machines’s dividend payout ratio is currently 75.65%.

Hedge Funds Weigh In On International Business Machines

A number of large investors have recently modified their holdings of the company. Desjardins Global Asset Management Inc. increased its holdings in shares of International Business Machines by 1.4% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 3,940 shares of the technology company’s stock worth $644,000 after purchasing an additional 54 shares during the period. Arden Trust Co raised its holdings in shares of International Business Machines by 2.8% in the 1st quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock valued at $377,000 after acquiring an additional 54 shares in the last quarter. Calamos Wealth Management LLC boosted its position in shares of International Business Machines by 2.8% during the 4th quarter. Calamos Wealth Management LLC now owns 2,007 shares of the technology company’s stock valued at $328,000 after acquiring an additional 55 shares during the last quarter. Avion Wealth raised its stake in International Business Machines by 6.2% in the fourth quarter. Avion Wealth now owns 964 shares of the technology company’s stock valued at $158,000 after purchasing an additional 56 shares in the last quarter. Finally, CVA Family Office LLC increased its holdings in shares of International Business Machines by 3.3% in the 2nd quarter. CVA Family Office LLC now owns 1,796 shares of the technology company’s stock worth $311,000 after buying an additional 57 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

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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