International Business Machines (NYSE:IBM) Shares Down 0.2% – Here’s Why

International Business Machines Co. (NYSE:IBM) shares dropped 0.2% during mid-day trading on Wednesday . The stock traded as low as $254.73 and last traded at $257.29. Approximately 761,277 shares changed hands during trading, a decline of 84% from the average daily volume of 4,658,559 shares. The stock had previously closed at $257.75.

Wall Street Analyst Weigh In

IBM has been the subject of a number of analyst reports. The Goldman Sachs Group reissued a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. Wedbush initiated coverage on shares of International Business Machines in a research report on Monday, February 3rd. They set an “outperform” rating on the stock. Sanford C. Bernstein raised their price objective on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. JPMorgan Chase & Co. upped their target price on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Finally, BMO Capital Markets lifted their price target on International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Two 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $231.44.

International Business Machines Trading Down 0.9 %

The stock has a market cap of $236.12 billion, a P/E ratio of 39.87, a P/E/G ratio of 5.81 and a beta of 0.76. The company has a 50-day moving average price of $236.49 and a two-hundred day moving average price of $223.25. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating 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, research analysts expect that International Business Machines Co. will post 10.78 EPS 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. Investors of record on Monday, February 10th will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s payout ratio is currently 104.21%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Compass Financial Services Inc purchased a new stake in International Business Machines in the fourth quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. boosted its holdings in shares of International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after acquiring an additional 116 shares during the last quarter. Hara Capital LLC acquired a new stake in shares of International Business Machines in the third quarter worth $29,000. Vision Financial Markets LLC acquired a new position in shares of International Business Machines in the 4th quarter valued at about $31,000. Finally, Avondale Wealth Management boosted its position in 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 purchasing an additional 56 shares in the last quarter. Institutional investors and hedge funds 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.