International Business Machines (NYSE:IBM) Stock Price Down 0.2%

International Business Machines Co. (NYSE:IBM)’s share price dropped 0.2% during mid-day trading on Thursday . The company traded as low as $172.80 and last traded at $173.27. Approximately 481,326 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 4,744,346 shares. The stock had previously closed at $173.69.

Wall Street Analyst Weigh In

IBM has been the subject of a number of research reports. UBS Group upped their price objective on shares of International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a research note on Monday, April 22nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $190.00 price objective on shares of International Business Machines in a research note on Thursday, May 16th. BNP Paribas started coverage on shares of International Business Machines in a report on Thursday, May 2nd. They set an “underperform” rating and a $145.00 price target for the company. Morgan Stanley lowered their price target on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Finally, Bank of America upped their price target on shares of International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Three research 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $181.29.

International Business Machines Stock Performance

The company has a market cap of $156.98 billion, a P/E ratio of 19.35, a PEG ratio of 4.20 and a beta of 0.74. The business’s 50 day simple moving average is $179.12 and its 200 day simple moving average is $173.86. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.09. The firm 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 company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.36 earnings per share. Sell-side analysts predict that International Business Machines Co. will post 9.91 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be issued a $1.67 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.91%. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Cetera Advisor Networks LLC raised its holdings in International Business Machines by 6.2% in the first quarter. Cetera Advisor Networks LLC now owns 143,860 shares of the technology company’s stock worth $27,471,000 after purchasing an additional 8,398 shares in the last quarter. Cetera Advisors LLC lifted its position in shares of International Business Machines by 60.2% during the 1st quarter. Cetera Advisors LLC now owns 119,467 shares of the technology company’s stock valued at $22,814,000 after buying an additional 44,894 shares in the last quarter. Cetera Investment Advisers lifted its holdings in International Business Machines by 340.3% in the 1st quarter. Cetera Investment Advisers now owns 293,448 shares of the technology company’s stock valued at $56,037,000 after purchasing an additional 226,802 shares in the last quarter. PGGM Investments raised its holdings in shares of International Business Machines by 115.6% during the 1st quarter. PGGM Investments now owns 50,732 shares of the technology company’s stock worth $9,688,000 after acquiring an additional 27,201 shares during the period. Finally, First City Capital Management Inc. increased its position in shares of International Business Machines by 1.5% during the 1st quarter. First City Capital Management Inc. now owns 10,262 shares of the technology company’s stock worth $1,960,000 after purchasing an additional 151 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

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.