International Business Machines (NYSE:IBM) Trading Up 0.7% – Here’s Why

International Business Machines Co. (NYSE:IBM)’s stock price was up 0.7% on Friday . The stock traded as high as $247.66 and last traded at $247.52. Approximately 1,102,420 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 3,899,760 shares. The stock had previously closed at $245.80.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Jefferies Financial Group boosted their price objective on International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Sanford C. Bernstein increased their price target on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a report on Monday, January 27th. Wedbush assumed coverage on shares of International Business Machines in a research report on Monday, February 3rd. They issued an “outperform” rating for the company. Finally, UBS Group raised their price target on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research report on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $231.44.

International Business Machines Stock Performance

The business’s fifty day simple moving average is $243.72 and its 200-day simple moving average is $227.70. The firm has a market cap of $229.63 billion, a P/E ratio of 38.63, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) 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%. As a group, sell-side analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is currently 104.21%.

Insiders Place Their Bets

In other news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the transaction, the senior vice president now owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.07% of the company’s stock.

Hedge Funds Weigh In On International Business Machines

A number of institutional investors have recently added to or reduced their stakes in IBM. Meeder Asset Management Inc. increased its stake in shares of International Business Machines by 40.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after acquiring an additional 166 shares in the last quarter. Blue Zone Wealth Advisors LLC bought a new position in shares of International Business Machines during the fourth quarter valued at approximately $242,000. Brady Martz Wealth Solutions LLC purchased a new position in shares of International Business Machines during the fourth quarter valued at approximately $1,940,000. Tranquilli Financial Advisor LLC bought a new stake in shares of International Business Machines in the 4th quarter worth approximately $373,000. Finally, Truist Financial Corp grew its stake in shares of International Business Machines by 6.5% in the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock worth $178,296,000 after buying an additional 49,591 shares during 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.