International Business Machines (NYSE:IBM) Shares Down 1.1% – Here’s What Happened

International Business Machines Co. (NYSE:IBM)’s stock price was down 1.1% during mid-day trading on Wednesday . The company traded as low as $246.23 and last traded at $246.25. Approximately 1,095,022 shares changed hands during trading, a decline of 72% from the average daily volume of 3,909,686 shares. The stock had previously closed at $248.95.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research note on Monday, January 27th. UBS Group raised their target price on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research report on Tuesday, January 14th. Morgan Stanley upped their price target on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. BMO Capital Markets lifted their price objective on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Finally, Sanford C. Bernstein upped their target price on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $231.44.

International Business Machines Price Performance

The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The company’s fifty day moving average price is $242.61 and its 200 day moving average price is $227.42. The company has a market capitalization of $231.80 billion, a P/E ratio of 38.99, a PEG ratio of 5.81 and a beta of 0.74.

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, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. As a group, sell-side analysts forecast that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s payout ratio is presently 104.21%.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the sale, the senior vice president now directly owns 45,007 shares in the company, valued at $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.07% of the stock is currently owned by insiders.

Hedge Funds Weigh In On International Business Machines

A number of institutional investors have recently modified their holdings of IBM. Compass Financial Services Inc acquired a new position in International Business Machines during the fourth quarter worth about $26,000. Vision Financial Markets LLC acquired a new stake in International Business Machines in the fourth quarter valued at approximately $31,000. Avondale Wealth Management lifted its stake in shares of International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after acquiring an additional 56 shares during the last quarter. Valued Wealth Advisors LLC boosted its holdings in shares of International Business Machines by 134.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after acquiring an additional 90 shares in the last quarter. Finally, Rialto Wealth Management LLC acquired a new position in International Business Machines in the 4th quarter worth about $35,000. 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.