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

International Business Machines Co. (NYSE:IBM)’s stock price fell 0.9% during mid-day trading on Thursday . The company traded as low as $175.17 and last traded at $175.73. 1,649,049 shares were traded during mid-day trading, a decline of 54% from the average session volume of 3,576,998 shares. The stock had previously closed at $177.30.

Analysts Set New Price Targets

Several research firms recently commented on IBM. Jefferies Financial Group reduced their price objective on International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. lowered their price target on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. The Goldman Sachs Group assumed coverage on shares of International Business Machines in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 price objective for the company. Bank of America upped their price target on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Finally, BNP Paribas began coverage on International Business Machines in a research report on Thursday, May 2nd. They set an “underperform” rating and a $145.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $182.53.

International Business Machines Trading Down 0.9 %

The company’s 50 day simple moving average is $169.55 and its two-hundred day simple moving average is $176.76. The company has a market cap of $161.43 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 4.37 and a beta of 0.71. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09.

International Business Machines (NYSE:IBM) last posted its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. During the same quarter last year, the firm earned $1.36 EPS. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, sell-side analysts anticipate that International Business Machines Co. will post 9.9 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were given a $1.67 dividend. 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 3.80%. The ex-dividend date of this dividend was Thursday, May 9th. International Business Machines’s payout ratio is currently 75.65%.

Institutional Investors Weigh In On International Business Machines

Several large investors have recently added to or reduced their stakes in IBM. FPC Investment Advisory Inc. acquired a new stake in International Business Machines in the first quarter valued at approximately $26,000. Naples Money Management LLC purchased a new stake in International Business Machines during the 4th quarter worth about $28,000. ESL Trust Services LLC acquired a new position in shares of International Business Machines during the 1st quarter worth about $28,000. Creekmur Asset Management LLC purchased a new position in shares of International Business Machines in the 4th quarter valued at about $29,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new stake in International Business Machines during the fourth quarter worth approximately $31,000. 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.