International Business Machines (NYSE:IBM) Shares Down 2.4% – Here’s What Happened

International Business Machines Co. (NYSE:IBM) was down 2.4% on Monday . The stock traded as low as $214.50 and last traded at $221.93. Approximately 2,510,739 shares traded hands during trading, a decline of 39% from the average daily volume of 4,145,162 shares. The stock had previously closed at $227.48.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Erste Group Bank raised International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Morgan Stanley increased their target price on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a report on Monday, January 27th. Sanford C. Bernstein increased 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 research note on Friday, January 3rd. Finally, StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Saturday, March 15th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $231.13.

International Business Machines Trading Down 0.9 %

The stock’s fifty day moving average is $251.49 and its 200 day moving average is $232.74. 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 stock has a market cap of $209.13 billion, a P/E ratio of 35.19, a P/E/G ratio of 5.81 and a beta of 0.67.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. As a group, equities research analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

Insider Buying and Selling

In related news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction on 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 completion of the transaction, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. The trade was a 37.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is owned by corporate insiders.

Institutional Trading of International Business Machines

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in International Business Machines by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock valued at $20,189,023,000 after buying an additional 1,539,888 shares during the period. Geode Capital Management LLC boosted its holdings in shares of International Business Machines by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company’s stock valued at $4,589,145,000 after purchasing an additional 427,499 shares during the period. Capital World Investors grew its stake in International Business Machines by 413.5% in the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock worth $2,634,577,000 after purchasing an additional 9,650,534 shares in the last quarter. Northern Trust Corp increased its holdings in International Business Machines by 18.6% during the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock worth $2,384,275,000 after purchasing an additional 1,704,209 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in International Business Machines by 9.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,112,092 shares of the technology company’s stock valued at $1,783,281,000 after purchasing an additional 722,582 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

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.