July 20, 2024

Corporate Nex Hub

Bringing business progress

International Business Machines (NYSE:IBM) Stock Price Down 0.9%

4 min read


Shares of International Business Machines Co. (NYSE:IBM – Get Free Report) fell 0.9% during trading on Thursday . The stock traded as low as $175.17 and last traded at $175.73. 1,649,049 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 3,576,998 shares. The stock had previously closed at $177.30.

Analyst Ratings Changes

IBM has been the subject of several analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of International Business Machines in a research report on Wednesday, May 22nd. JPMorgan Chase & Co. reduced their target price on International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Bank of America boosted their price target on International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. The Goldman Sachs Group began coverage on International Business Machines in a research note on Monday, June 24th. They issued a “buy” rating and a $200.00 price objective on the stock. Finally, BMO Capital Markets lowered their target price on International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a research note on Thursday, April 25th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $182.53.

View Our Latest Stock Report on International Business Machines

International Business Machines Stock Up 0.1 %

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 stock’s fifty day simple moving average is $169.86 and its two-hundred day simple moving average is $176.84. The stock has a market capitalization of $161.66 billion, a P/E ratio of 19.93, a price-to-earnings-growth ratio of 4.34 and a beta of 0.71.

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 net margin of 13.18% and a return on equity of 40.21%. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.36 earnings per share. As a group, research analysts expect that International Business Machines Co. will post 9.9 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently disclosed 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. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.80%. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date of this dividend was Thursday, May 9th. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

Institutional Trading of International Business Machines

Several institutional investors have recently added to or reduced their stakes in the stock. FPC Investment Advisory Inc. bought a new position in International Business Machines during the first quarter worth $26,000. Naples Money Management LLC acquired a new stake in International Business Machines during the 4th quarter worth about $28,000. ESL Trust Services LLC bought a new position in shares of International Business Machines in the 1st quarter worth about $28,000. Creekmur Asset Management LLC acquired a new position in shares of International Business Machines in the 4th quarter valued at about $29,000. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in shares of International Business Machines during the 4th quarter valued at about $31,000. 58.96% of the stock is currently owned by institutional investors.

About International Business Machines

(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.

Read More



Receive News & Ratings for International Business Machines Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for International Business Machines and related companies with MarketBeat.com’s FREE daily email newsletter.

link

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © All rights reserved. | Newsphere by AF themes.