International Business Machines (NYSE:IBM) Trading 1% Higher – Time to Buy?

International Business Machines Co. (NYSE:IBM) shares were up 1% on Wednesday . The stock traded as high as $249.45 and last traded at $249.44. Approximately 542,697 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 3,867,898 shares. The stock had previously closed at $246.95.

Analysts Set New Price Targets

IBM has been the subject of a number of recent analyst reports. 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research report on Monday, January 27th. The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Jefferies Financial Group lifted their price target on shares of International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. increased their price objective on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $231.44.

International Business Machines Stock Up 1.5 %

The firm has a fifty day simple moving average of $245.29 and a 200-day simple moving average of $229.16. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The firm has a market cap of $232.35 billion, a price-to-earnings ratio of 39.09, a P/E/G ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating 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 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were issued a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.67%. International Business Machines’s dividend payout ratio (DPR) is currently 104.21%.

Insider Transactions at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the business’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 sale, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. The trade was a 37.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.07% of the stock is owned by insiders.

Institutional Investors Weigh In On International Business Machines

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. JBR Co Financial Management Inc grew its position in shares of International Business Machines by 0.6% in the 4th quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company’s stock valued at $1,405,000 after buying an additional 40 shares during the last quarter. Wealth Dimensions Group Ltd. grew its position in shares of International Business Machines by 1.0% in the 4th quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company’s stock valued at $873,000 after buying an additional 40 shares during the last quarter. Schechter Investment Advisors LLC grew its position in shares of International Business Machines by 0.7% in the 4th quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company’s stock valued at $1,396,000 after buying an additional 43 shares during the last quarter. Titleist Asset Management LLC grew its position in shares of International Business Machines by 3.1% in the 4th quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company’s stock valued at $315,000 after buying an additional 43 shares during the last quarter. Finally, Callan Capital LLC grew its position in shares of International Business Machines by 2.4% in the 4th quarter. Callan Capital LLC now owns 1,870 shares of the technology company’s stock valued at $411,000 after buying an additional 44 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.