International Business Machines Corporation (NYSE:IBM – Get Free Report)’s share price traded down 1.3% during mid-day trading on Thursday. The company traded as low as $244.37 and last traded at $244.9070. Approximately 2,590,977 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 7,254,643 shares. The stock had previously closed at $248.22.
Key International Business Machines News
Here’s some of the latest news about IBM:
- Positive Sentiment: IBM’s acquisition of cybersecurity company AuthMind adds to its security push, potentially broadening its capabilities in a market where demand is growing. Article: IBM acquires AuthMind
- Positive Sentiment: LTM’s AI-powered quantum error-mitigation capability is now available through IBM’s Quantum Functions Catalog, adding to the platform’s software ecosystem. Article: LTM adds quantum error mitigation to IBM catalog
- Negative Sentiment: Reports say IBM will end H-1B and green-card sponsorship for many U.S. consulting roles. The policy may constrain hiring and risk disrupting employee retention, though its financial impact is not yet clear. Article: IBM to end immigration sponsorship for roles in biggest unit
Analyst Ratings Changes
Several research analysts have commented on IBM shares. Bank of America lowered their target price on International Business Machines from $330.00 to $280.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. Robert W. Baird raised their price target on shares of International Business Machines from $230.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, October 22nd. BMO Capital Markets lifted their price target on shares of International Business Machines from $230.00 to $265.00 and gave the company a “market perform” rating in a report on Thursday, October 22nd. UBS Group upped their price objective on shares of International Business Machines from $236.00 to $243.00 and gave the stock a “neutral” rating in a research report on Thursday, October 22nd. Finally, Truist Financial set a $260.00 price objective on shares of International Business Machines in a research note on Thursday, October 22nd. Nineteen analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, International Business Machines currently has an average rating of “Moderate Buy” and a consensus target price of $266.88.
International Business Machines Stock Performance
The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.80 and a current ratio of 0.85. The company has a market cap of $231.47 billion, a price-to-earnings ratio of 20.88, a P/E/G ratio of 2.41 and a beta of 0.78. The company has a fifty day moving average of $237.53 and a two-hundred day moving average of $247.92.
International Business Machines (NYSE:IBM – Get Free Report) last issued its earnings results on Wednesday, October 21st. The technology company reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.10. The business had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $16.82 billion. International Business Machines had a return on equity of 34.37% and a net margin of 15.99%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.65 EPS. Equities research analysts anticipate that International Business Machines Corporation will post 12.42 EPS for the current year.
International Business Machines Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Tuesday, November 10th will be issued a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Tuesday, November 10th. International Business Machines’s payout ratio is 57.63%.
Insider Activity
In related news, SVP Robert Thomas sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $230.32, for a total value of $5,758,000.00. Following the completion of the transaction, the senior vice president owned 47,800 shares in the company, valued at $11,009,296. This trade represents a 34.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On International Business Machines
A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of International Business Machines during the second quarter valued at $21,586,659,000. Bank of America Corp DE bought a new stake in shares of International Business Machines in the second quarter worth $4,214,868,000. Bank of New York Mellon Corp acquired a new stake in International Business Machines in the second quarter valued at $2,606,782,000. Legal & General Group Plc acquired a new stake in International Business Machines in the second quarter valued at $1,874,733,000. Finally, Wellington Management Group LLP raised its position in International Business Machines by 2,362.2% during the 2nd quarter. Wellington Management Group LLP now owns 6,549,393 shares of the technology company’s stock worth $1,841,755,000 after purchasing an additional 6,283,395 shares during the last quarter. 58.96% of the stock is owned by institutional investors.
International Business Machines Company Profile
International Business Machines Corporation (IBM) is a global technology company that provides software, consulting, infrastructure and related services to businesses and public-sector organizations. Its offerings include hybrid cloud and artificial intelligence solutions, enterprise software, IT consulting, and systems such as IBM Z mainframes and Power servers. IBM also develops technologies in areas including data management, automation, cybersecurity and quantum computing. Its consulting teams help clients design, build and manage technology systems and business processes.
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