June 17, 2024

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International Business Machines (NYSE:IBM) Trading Down 1.4%

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International Business Machines Co. (NYSE:IBM – Get Free Report)’s stock price dropped 1.4% during trading on Monday . The company traded as low as $164.41 and last traded at $164.55. Approximately 678,997 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 4,680,937 shares. The stock had previously closed at $166.85.

Wall Street Analyst Weigh In

IBM has been the subject of a number of recent analyst reports. Jefferies Financial Group lowered their price objective on International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a research report on Tuesday, April 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of International Business Machines in a research report on Wednesday, May 22nd. Stifel Nicolaus reissued a “buy” rating and set a $190.00 price target on shares of International Business Machines in a research report on Thursday, May 16th. BNP Paribas began coverage on International Business Machines in a research report on Thursday, May 2nd. They set an “underperform” rating and a $145.00 price target for the company. Finally, JPMorgan Chase & Co. lowered their price target on International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Three research 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, the stock has an average rating of “Hold” and a consensus price target of $181.29.

Check Out Our Latest Report on International Business Machines

International Business Machines Price Performance

The business has a fifty day moving average of $176.22 and a 200-day moving average of $174.96. 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 firm has a market capitalization of $151.80 billion, a P/E ratio of 18.71, a price-to-earnings-growth ratio of 4.11 and a beta of 0.72.

International Business Machines (NYSE:IBM – Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.36 EPS. On average, sell-side analysts forecast that International Business Machines Co. will post 9.91 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 4.04%. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date of this dividend is Thursday, May 9th. International Business Machines’s dividend payout ratio is presently 75.65%.

Institutional Investors Weigh In On International Business Machines

Several hedge funds and other institutional investors have recently made changes to their positions in the business. FPC Investment Advisory Inc. bought a new stake in shares of International Business Machines in the first quarter valued at about $26,000. ESL Trust Services LLC acquired a new stake in shares of International Business Machines in the first quarter valued at approximately $28,000. Naples Money Management LLC acquired a new stake in International Business Machines during the 4th quarter worth $28,000. Creekmur Asset Management LLC acquired a new stake in International Business Machines during the 4th quarter worth $29,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new stake in International Business Machines during the 4th quarter worth $31,000. 58.96% of the stock is owned by institutional investors and hedge funds.

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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