International Business Machines (NYSE:IBM) Trading Up 0% – Here’s What Happened

International Business Machines Co. (NYSE:IBM)’s stock price rose 0% during trading on Tuesday . The stock traded as high as $223.09 and last traded at $222.04. Approximately 313,508 shares changed hands during trading, a decline of 93% from the average daily volume of 4,235,667 shares. The stock had previously closed at $221.93.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. UBS Group increased their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Stifel Nicolaus lifted their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Jefferies Financial Group upped their target price on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Finally, Evercore ISI boosted their price target on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $208.94.

International Business Machines Stock Performance

The stock has a 50-day moving average of $221.79 and a 200-day moving average of $204.46. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The firm has a market cap of $207.50 billion, a price-to-earnings ratio of 32.67, a price-to-earnings-growth ratio of 5.17 and a beta of 0.73.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter in the previous year, the business earned $2.20 earnings per share. International Business Machines’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, analysts anticipate that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were issued a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.98%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s payout ratio is presently 97.23%.

Insider Buying and Selling

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.07% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On International Business Machines

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. lifted its holdings in International Business Machines by 4.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,094,106 shares of the technology company’s stock valued at $241,885,000 after purchasing an additional 46,951 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in shares of International Business Machines in the third quarter valued at about $24,761,000. Brass Tax Wealth Management Inc. acquired a new stake in shares of International Business Machines during the 3rd quarter worth about $249,000. 1ST Source Bank boosted its holdings in shares of International Business Machines by 0.6% during the 3rd quarter. 1ST Source Bank now owns 31,244 shares of the technology company’s stock worth $6,907,000 after buying an additional 187 shares during the period. Finally, Alternative Investment Advisors LLC. raised its holdings in International Business Machines by 3.0% in the 3rd quarter. Alternative Investment Advisors LLC. now owns 10,660 shares of the technology company’s stock valued at $2,357,000 after acquiring an additional 314 shares during the period. Institutional investors own 58.96% of the company’s stock.

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.