International Business Machines (NYSE:IBM) Trading Up 1.1% – Here’s What Happened

International Business Machines Co. (NYSE:IBM) rose 1.1% during mid-day trading on Wednesday . The stock traded as high as $224.44 and last traded at $224.41. Approximately 1,186,216 shares changed hands during trading, a decline of 72% from the average daily volume of 4,239,474 shares. The stock had previously closed at $221.93.

Analyst Ratings Changes

IBM has been the subject of several analyst reports. The Goldman Sachs Group increased their target price on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. Morgan Stanley upped their target price on International Business Machines from $208.00 to $222.00 and gave the company an “equal weight” rating in a report on Monday, December 16th. Evercore ISI lifted their price objective on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $208.94.

International Business Machines Price Performance

The firm has a market cap of $207.50 billion, a PE ratio of 32.67, a PEG ratio of 5.17 and a beta of 0.73. The firm has a fifty day simple moving average of $221.61 and a two-hundred day simple moving average of $204.84. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06.

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

International Business Machines Dividend Announcement

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

Insider Activity

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction on Friday, November 8th. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.07% of the company’s stock.

Institutional Trading of International Business Machines

Large investors have recently made changes to their positions in the business. Meeder Asset Management Inc. increased its holdings in shares of International Business Machines by 40.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after purchasing an additional 166 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in International Business Machines in the 2nd quarter valued at $7,160,000. Philip James Wealth Mangement LLC acquired a new stake in shares of International Business Machines in the third quarter worth approximately $5,117,000. Lord Abbett & CO. LLC acquired a new position in shares of International Business Machines during the 3rd quarter worth approximately $24,761,000. Finally, Aljian Capital Management LLC acquired a new position in shares of International Business Machines during the 3rd quarter valued at about $611,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

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.