International Business Machines (NYSE:IBM) Trading Down 1.1% – Here’s Why

International Business Machines Co. (NYSE:IBM) was down 1.1% during trading on Monday . The company traded as low as $214.75 and last traded at $217.23. Approximately 835,028 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 2,785,630 shares. The stock had previously closed at $219.75.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. BMO Capital Markets increased their target price on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research note on Thursday, October 24th. Sanford C. Bernstein lifted their target price on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Morgan Stanley upped their price target on International Business Machines from $208.00 to $222.00 and gave the stock an “equal weight” rating in a research note on Monday, December 16th. DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a report on Wednesday, October 2nd. Finally, UBS Group raised their target price on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a report on Tuesday. Two 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $215.81.

International Business Machines Price Performance

The company has a market capitalization of $203.49 billion, a PE ratio of 32.03, a price-to-earnings-growth ratio of 5.18 and a beta of 0.74. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The company’s 50 day simple moving average is $222.34 and its 200 day simple moving average is $210.16.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter last year, the business posted $2.20 EPS. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, sell-side analysts predict that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 97.23%.

Insider Activity at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.07% of the stock is currently owned by insiders.

Institutional Trading of International Business Machines

A number of institutional investors have recently added to or reduced their stakes in IBM. State Street Corp grew its holdings in shares of International Business Machines by 2.2% in the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after acquiring an additional 1,200,803 shares during the period. Legal & General Group Plc boosted its position in shares of International Business Machines by 4.1% in the 2nd quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock worth $1,467,974,000 after buying an additional 330,694 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in International Business Machines by 6.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after acquiring an additional 444,698 shares in the last quarter. FMR LLC lifted its holdings in shares of International Business Machines by 6.0% in the third quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock valued at $1,148,717,000 after purchasing an additional 294,276 shares in the last quarter. Finally, Swiss National Bank grew its position in shares of International Business Machines by 0.5% in the third quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock valued at $602,819,000 after purchasing an additional 12,400 shares during the last quarter. Hedge funds and other 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.