International Business Machines (NYSE:IBM) Trading Down 0.5% – Here’s Why

International Business Machines Co. (NYSE:IBM) dropped 0.5% on Wednesday . The stock traded as low as $252.02 and last traded at $253.32. Approximately 504,029 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 4,691,920 shares. The stock had previously closed at $254.70.

Analyst Ratings Changes

IBM has been the subject of several research reports. UBS Group lifted their price objective on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a report on Tuesday, January 14th. BMO Capital Markets boosted their price objective on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Oppenheimer began coverage on shares of International Business Machines in a research report on Tuesday. They set an “outperform” rating and a $320.00 target price for the company. Bank of America boosted their price target on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, Morgan Stanley increased their price objective on International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, International Business Machines currently has an average rating of “Hold” and a consensus target price of $231.44.

International Business Machines Trading Up 0.2 %

The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The company has a market capitalization of $236.07 billion, a PE ratio of 39.82, a P/E/G ratio of 5.57 and a beta of 0.76. The business has a fifty day moving average price of $230.70 and a 200 day moving average price of $218.22.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. Analysts expect that International Business Machines Co. will post 10.75 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Hedge Funds Weigh In On International Business Machines

Several hedge funds and other institutional investors have recently bought and sold shares of IBM. Meeder Asset Management Inc. increased its stake in International Business Machines by 40.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after buying an additional 166 shares during the period. Brady Martz Wealth Solutions LLC acquired a new position in International Business Machines in the fourth quarter valued at approximately $1,940,000. Tranquilli Financial Advisor LLC bought a new position in shares of International Business Machines during the fourth quarter valued at approximately $373,000. Philip James Wealth Mangement LLC bought a new stake in shares of International Business Machines in the 3rd quarter worth approximately $5,117,000. Finally, Nordea Investment Management AB increased its position in International Business Machines by 6.5% in the fourth quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock worth $16,615,000 after buying an additional 4,625 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

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.