International Business Machines (NYSE:IBM) Trading Down 0.9%

International Business Machines Co. (NYSE:IBM)’s share price dropped 0.9% on Thursday . The company traded as low as $166.29 and last traded at $166.73. Approximately 764,209 shares changed hands during trading, a decline of 84% from the average daily volume of 4,886,730 shares. The stock had previously closed at $168.23.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Evercore raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $165.00 to $200.00 in a research report on Friday, January 19th. Stifel Nicolaus reissued a “buy” rating and set a $190.00 target price on shares of International Business Machines in a research report on Wednesday, April 17th. Royal Bank of Canada lifted their target price on shares of International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. BNP Paribas started coverage on shares of International Business Machines in a research report on Thursday, May 2nd. They set an “underperform” rating and a $145.00 target price on the stock. Finally, Sanford C. Bernstein raised their price target on shares of International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research note on Thursday, March 7th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $181.29.

International Business Machines Price Performance

The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. The firm’s 50-day moving average is $184.80 and its 200-day moving average is $171.86. The company has a market cap of $152.76 billion, a PE ratio of 18.83, a PEG ratio of 4.08 and a beta of 0.74.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share 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 analysts’ expectations of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The business’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.36 earnings per share. On average, equities analysts anticipate that International Business Machines Co. will post 9.92 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be given a $1.67 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a yield of 4.02%. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Hedge Funds Weigh In On International Business Machines

Institutional investors have recently bought and sold shares of the stock. FPC Investment Advisory Inc. bought a new stake in International Business Machines during the 1st quarter valued at about $26,000. Naples Money Management LLC acquired a new stake in International Business Machines during the 4th quarter valued at approximately $28,000. Creekmur Asset Management LLC acquired a new stake in International Business Machines during the 4th quarter valued at approximately $29,000. Briaud Financial Planning Inc acquired a new position in shares of International Business Machines in the 3rd quarter valued at $31,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in shares of International Business Machines in the 4th quarter valued at $31,000. 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.