International Business Machines (NYSE:IBM) Trading 0.3% Higher – Here’s Why

International Business Machines Co. (NYSE:IBM)’s share price shot up 0.3% on Wednesday . The company traded as high as $211.35 and last traded at $210.79. 656,534 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 4,211,116 shares. The stock had previously closed at $210.25.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Evercore ISI boosted their price objective on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. UBS Group increased their target price on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. The Goldman Sachs Group upped their price target on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and an average target price of $208.12.

International Business Machines Trading Up 1.5 %

The company has a 50-day moving average price of $218.98 and a 200 day moving average price of $194.50. The stock has a market capitalization of $197.40 billion, a P/E ratio of 30.68, a price-to-earnings-growth ratio of 4.60 and a beta of 0.71. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same period in the prior year, the firm posted $2.20 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis. On average, research analysts forecast that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 3.13%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 97.23%.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.07% of the company’s stock.

Institutional Trading of International Business Machines

Large investors have recently added to or reduced their stakes in the company. State Street Corp raised its position in International Business Machines by 2.2% during the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after buying an additional 1,200,803 shares during the last quarter. Legal & General Group Plc boosted its position in International Business Machines by 4.1% in the 2nd quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock worth $1,467,974,000 after purchasing an additional 330,694 shares in the last quarter. Ameriprise Financial Inc. grew its position in International Business Machines by 6.4% during the second quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after buying an additional 444,698 shares during the period. FMR LLC grew its position in shares of International Business Machines by 6.0% during the 3rd quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock valued at $1,148,717,000 after acquiring an additional 294,276 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of International Business Machines by 6.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock worth $829,431,000 after buying an additional 304,390 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Company Profile

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.