International Business Machines (NYSE:IBM) Shares Down 0.8% – Here’s Why

International Business Machines Co. (NYSE:IBM)’s stock price was down 0.8% during trading on Wednesday . The company traded as low as $261.75 and last traded at $262.31. Approximately 1,257,926 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 4,698,344 shares. The stock had previously closed at $264.46.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on IBM shares. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research report on Monday, January 27th. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. BMO Capital Markets upped their price target on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. Bank of America upped their target price on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, Morgan Stanley lifted their price target on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $225.53.

International Business Machines Trading Down 0.6 %

The business has a 50 day simple moving average of $228.01 and a two-hundred day simple moving average of $215.86. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The company has a market cap of $243.19 billion, a PE ratio of 41.03, a price-to-earnings-growth ratio of 5.63 and a beta of 0.76.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. On average, analysts forecast that International Business Machines Co. will post 10.73 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

Insider Activity

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now owns 25,390 shares in the company, valued at approximately $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 can be accessed through the SEC website. Corporate insiders own 0.07% of the company’s stock.

Institutional Trading of International Business Machines

Institutional investors and hedge funds have recently bought and sold shares of the business. Compass Financial Services Inc purchased a new position in International Business Machines in the fourth quarter valued at about $26,000. Hazlett Burt & Watson Inc. lifted its position in International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after acquiring an additional 116 shares in the last quarter. Hara Capital LLC purchased a new position in International Business Machines in the 3rd quarter worth approximately $29,000. Avondale Wealth Management raised its stake in shares of International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after purchasing an additional 56 shares during the period. Finally, Valued Wealth Advisors LLC lifted its position in shares of International Business Machines by 134.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after purchasing an additional 90 shares in the last quarter. Institutional investors and hedge funds 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.