International Business Machines (NYSE:IBM) Stock Price Down 0.9% – What’s Next?

Shares of International Business Machines Co. (NYSE:IBM) dropped 0.9% during mid-day trading on Friday . The stock traded as low as $243.68 and last traded at $244.07. Approximately 419,558 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 3,883,765 shares. The stock had previously closed at $246.21.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on IBM shares. Oppenheimer began coverage on International Business Machines in a report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price target for the company. Wedbush assumed coverage on International Business Machines in a research note on Monday, February 3rd. They set an “outperform” rating for the company. UBS Group boosted their price target on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research note on Tuesday, January 14th. Bank of America raised their price objective 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, The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $231.44.

International Business Machines Stock Performance

The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The company’s fifty day moving average price is $249.51 and its 200 day moving average price is $231.47. The company has a market cap of $226.10 billion, a PE ratio of 38.04, a P/E/G ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. On average, equities research analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were paid a $1.67 dividend. The ex-dividend date was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.74%. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Insider Transactions at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were 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 owns 45,007 shares in the company, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On International Business Machines

Several large investors have recently modified their holdings of the stock. Blue Zone Wealth Advisors LLC bought a new stake in shares of International Business Machines in the fourth quarter valued at $242,000. Brady Martz Wealth Solutions LLC bought a new stake in International Business Machines in the 4th quarter valued at about $1,940,000. Tranquilli Financial Advisor LLC purchased a new stake in International Business Machines during the fourth quarter valued at about $373,000. Truist Financial Corp boosted its position in International Business Machines by 6.5% during the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock worth $178,296,000 after purchasing an additional 49,591 shares during the period. Finally, Nordea Investment Management AB increased its stake in shares of International Business Machines by 6.5% in the fourth quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock worth $16,615,000 after purchasing an additional 4,625 shares in the last quarter. Hedge funds and other 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.