International Business Machines (NYSE:IBM) Shares Down 2% – Here’s What Happened

International Business Machines Co. (NYSE:IBM)’s stock price was down 2% during trading on Thursday . The company traded as low as $258.05 and last traded at $257.97. Approximately 1,283,509 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 4,757,878 shares. The stock had previously closed at $263.30.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a report on Monday, January 27th. Bank of America increased their target price on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Morgan Stanley boosted their price target 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. UBS Group raised their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a report on Tuesday, January 14th. Finally, Stifel Nicolaus boosted their target price on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $225.53.

International Business Machines Stock Performance

The business has a 50 day moving average price of $229.76 and a two-hundred day moving average price of $216.92. The stock has a market cap of $233.30 billion, a P/E ratio of 39.36, a price-to-earnings-growth ratio of 5.57 and a beta of 0.76. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) 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%. On average, sell-side analysts forecast that International Business Machines Co. will post 10.75 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

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 issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Institutional Investors Weigh In On International Business Machines

Several large investors have recently made changes to their positions in the company. Compass Financial Services Inc purchased a new stake in shares of International Business Machines during the 4th quarter worth approximately $26,000. Hazlett Burt & Watson Inc. raised its stake in International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after purchasing an additional 116 shares in the last quarter. Hara Capital LLC bought a new position in International Business Machines during the third quarter valued at $29,000. Vision Financial Markets LLC purchased a new position in shares of International Business Machines in the 4th quarter worth $31,000. Finally, Avondale Wealth Management increased its holdings in shares of International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after buying an additional 56 shares during the last quarter. 58.96% of the stock is owned by 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.