International Business Machines (NYSE:IBM) Stock Price Down 0.8% – Here’s What Happened

International Business Machines Co. (NYSE:IBM) shares fell 0.8% on Wednesday . The company traded as low as $260.09 and last traded at $260.97. 576,123 shares changed hands during trading, a decline of 87% from the average session volume of 4,599,243 shares. The stock had previously closed at $263.07.

Analyst Ratings Changes

A number of research firms have recently weighed in on IBM. JPMorgan Chase & Co. raised their price target on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, February 5th. UBS Group increased their price objective on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a report on Tuesday, January 14th. 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 report on Thursday, January 30th. Finally, Sanford C. Bernstein increased their price objective on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, International Business Machines has a consensus rating of “Hold” and an average price target of $231.44.

International Business Machines Price Performance

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 firm has a market cap of $242.05 billion, a P/E ratio of 40.84, a P/E/G ratio of 5.80 and a beta of 0.76. The company has a 50-day moving average of $234.65 and a 200 day moving average of $221.26.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. On average, sell-side analysts anticipate that International Business Machines Co. will post 10.77 EPS for the current year.

International Business Machines Dividend Announcement

The firm 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. The ex-dividend date is Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.55%. International Business Machines’s payout ratio is 104.21%.

Hedge Funds Weigh In On International Business Machines

Institutional investors have recently bought and sold shares of the business. Meeder Asset Management Inc. raised its position in International Business Machines by 40.9% in 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 during the last quarter. Blue Zone Wealth Advisors LLC bought a new stake in shares of International Business Machines during the fourth quarter worth $242,000. Brady Martz Wealth Solutions LLC bought a new stake in shares of International Business Machines during the fourth quarter worth $1,940,000. Tranquilli Financial Advisor LLC bought a new stake in shares of International Business Machines during the fourth quarter worth $373,000. Finally, Philip James Wealth Mangement LLC bought a new stake in shares of International Business Machines during the third quarter worth $5,117,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Company Profile

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.