International Business Machines (NYSE:IBM) Shares Down 0.3% – Here’s Why

Shares of International Business Machines Co. (NYSE:IBM) were down 0.3% on Tuesday . The company traded as low as $206.19 and last traded at $207.53. Approximately 615,639 shares traded hands during trading, a decline of 85% from the average daily volume of 4,217,320 shares. The stock had previously closed at $208.09.

Wall Street Analyst Weigh In

IBM has been the subject of several recent research reports. Stifel Nicolaus boosted their price objective on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. BMO Capital Markets lifted their price objective on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. Evercore ISI boosted their price target on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. UBS Group lifted their price target on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. Finally, StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $208.12.

International Business Machines Stock Performance

The stock has a 50 day moving average of $218.88 and a 200 day moving average of $194.18. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The firm has a market cap of $194.26 billion, a price-to-earnings ratio of 30.21, a P/E/G ratio of 4.60 and a beta of 0.71.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.27 by $0.03. The business had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.20 EPS. As a group, analysts anticipate that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 97.23%.

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.07% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in IBM. TCW Group Inc. lifted its holdings in International Business Machines by 8.6% in the third quarter. TCW Group Inc. now owns 694,520 shares of the technology company’s stock valued at $153,544,000 after buying an additional 54,886 shares during the period. Hohimer Wealth Management LLC acquired a new position in shares of International Business Machines during the 3rd quarter valued at $238,000. Rehmann Capital Advisory Group increased its position in International Business Machines by 3.2% in the 3rd quarter. Rehmann Capital Advisory Group now owns 10,493 shares of the technology company’s stock valued at $2,320,000 after buying an additional 323 shares in the last quarter. Fortem Financial Group LLC bought a new position in International Business Machines in the third quarter worth approximately $838,000. Finally, Teachers Retirement System of The State of Kentucky increased its stake in International Business Machines by 6.2% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 222,757 shares of the technology company’s stock valued at $49,247,000 after purchasing an additional 12,963 shares in the last quarter. 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.