International Business Machines (NYSE:IBM) Trading Up 0.6%

International Business Machines Co. (NYSE:IBM) shares shot up 0.6% during trading on Wednesday . The stock traded as high as $169.51 and last traded at $169.33. 531,711 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 4,899,147 shares. The stock had previously closed at $168.38.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Evercore raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and upped their target price for the company from $165.00 to $200.00 in a report on Friday, January 19th. JPMorgan Chase & Co. lowered their target price on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Morgan Stanley cut their target price on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Wedbush lifted their target price on International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Finally, StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $181.29.

International Business Machines Price Performance

The stock has a market capitalization of $156.07 billion, a PE ratio of 19.18, a price-to-earnings-growth ratio of 4.08 and a beta of 0.74. The stock’s 50 day moving average price is $185.11 and its 200-day moving average price is $171.88. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32.

International Business Machines (NYSE:IBM) last issued its earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the company posted $1.36 earnings per share. As a group, equities analysts forecast that International Business Machines Co. will post 9.92 EPS for the current year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be given a dividend of $1.67 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.93%. International Business Machines’s dividend payout ratio is presently 75.20%.

Institutional Trading of International Business Machines

A number of hedge funds have recently added to or reduced their stakes in IBM. Desjardins Global Asset Management Inc. raised its stake in International Business Machines by 1.4% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 3,940 shares of the technology company’s stock worth $644,000 after buying an additional 54 shares in the last quarter. Arden Trust Co raised its position in shares of International Business Machines by 2.8% in the 1st quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock worth $377,000 after acquiring an additional 54 shares in the last quarter. Calamos Wealth Management LLC lifted its stake in shares of International Business Machines by 2.8% during the 4th quarter. Calamos Wealth Management LLC now owns 2,007 shares of the technology company’s stock worth $328,000 after purchasing an additional 55 shares during the last quarter. Avion Wealth boosted its position in International Business Machines by 6.2% during the fourth quarter. Avion Wealth now owns 964 shares of the technology company’s stock valued at $158,000 after purchasing an additional 56 shares in the last quarter. Finally, Chicago Partners Investment Group LLC grew its position in shares of International Business Machines by 0.8% in the 4th quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock worth $1,309,000 after buying an additional 58 shares during 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.