International Business Machines (NYSE:IBM) Trading Up 2.6% – Should You Buy?

International Business Machines Co. (NYSE:IBM)’s stock price shot up 2.6% during mid-day trading on Monday . The stock traded as high as $241.77 and last traded at $241.57. 598,689 shares were traded during trading, a decline of 86% from the average session volume of 4,204,453 shares. The stock had previously closed at $235.48.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on IBM shares. Oppenheimer assumed coverage on shares of International Business Machines in a research report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price objective on the stock. BMO Capital Markets increased their price target on International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. UBS Group upped their price objective on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a report on Tuesday, January 14th. Jefferies Financial Group cut their target price on shares of International Business Machines from $270.00 to $265.00 and set a “hold” rating for the company in a report on Monday, March 31st. Finally, Sanford C. Bernstein increased their price target on shares of 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, eight have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $232.75.

International Business Machines Trading Up 2.0 %

The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The company’s 50-day moving average is $249.14 and its 200 day moving average is $233.02. The company has a market cap of $222.64 billion, a price-to-earnings ratio of 37.46, a price-to-earnings-growth ratio of 5.81 and a beta of 0.67.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share (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%. Research analysts predict that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were given a $1.67 dividend. The ex-dividend date was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.78%. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the sale, the senior vice president now directly owns 45,007 shares in the company, valued at $11,387,221.07. This represents a 37.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On International Business Machines

Several hedge funds and other institutional investors have recently made changes to their positions in IBM. Treasurer of the State of North Carolina raised its stake in International Business Machines by 0.8% in the fourth quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company’s stock valued at $108,942,000 after buying an additional 4,131 shares in the last quarter. Blue Zone Wealth Advisors LLC purchased a new position in shares of International Business Machines in the 4th quarter valued at $242,000. Brady Martz Wealth Solutions LLC acquired a new stake in International Business Machines during the 4th quarter worth $1,940,000. Tranquilli Financial Advisor LLC purchased a new stake in International Business Machines in the fourth quarter valued at $373,000. Finally, Truist Financial Corp boosted its stake in 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 acquiring an additional 49,591 shares in the last quarter. Hedge funds and other institutional investors 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.