International Business Machines (NYSE:IBM) Shares Down 2.6% – Here’s What Happened

International Business Machines Co. (NYSE:IBM)’s stock price fell 2.6% during trading on Tuesday . The company traded as low as $246.02 and last traded at $246.31. 779,489 shares traded hands during trading, a decline of 80% from the average session volume of 3,874,623 shares. The stock had previously closed at $252.97.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Sanford C. Bernstein lifted their price objective on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a report on Saturday. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research note on Monday, January 27th. The Goldman Sachs Group reissued a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. Finally, Oppenheimer initiated coverage on shares of International Business Machines in a research note on Tuesday, February 11th. They set an “outperform” rating and a $320.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and a consensus target price of $231.44.

International Business Machines Price Performance

The stock has a fifty day simple moving average of $244.84 and a 200-day simple moving average of $228.85. The company has a market capitalization of $227.97 billion, a PE ratio of 38.38, a P/E/G ratio of 5.81 and a beta of 0.74. 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 posted its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share 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%. Equities analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is 104.21%.

Insider Buying and Selling

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the transaction, the senior vice president now owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.07% of the stock is owned by company insiders.

Institutional Trading of International Business Machines

Large investors have recently made changes to their positions in the company. Meeder Asset Management Inc. boosted its holdings in shares of International Business Machines by 40.9% in the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after acquiring an additional 166 shares during the period. Blue Zone Wealth Advisors LLC acquired a new stake in International Business Machines during the 4th quarter worth $242,000. Brady Martz Wealth Solutions LLC purchased a new position in International Business Machines during the 4th quarter worth $1,940,000. Tranquilli Financial Advisor LLC acquired a new position in International Business Machines in the fourth quarter valued at $373,000. Finally, Truist Financial Corp raised its holdings in shares of International Business Machines by 6.5% in the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock valued at $178,296,000 after buying an additional 49,591 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

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.