International Business Machines (NYSE:IBM) Trading 0.7% Higher Following Better-Than-Expected Earnings

International Business Machines Co. (NYSE:IBM)’s stock price traded up 0.7% during mid-day trading on Wednesday following a better than expected earnings announcement. The company traded as high as $184.16 and last traded at $183.41. 1,449,024 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 4,728,000 shares. The stock had previously closed at $182.19.

The technology company reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. During the same period in the previous year, the company posted $1.36 earnings per share. The firm’s revenue was up 1.5% on a year-over-year basis.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Stockholders of record on Friday, February 9th were issued a dividend of $1.66 per share. The ex-dividend date was Thursday, February 8th. This represents a $6.64 annualized dividend and a dividend yield of 3.61%. International Business Machines’s dividend payout ratio (DPR) is currently 81.67%.

Analysts Set New Price Targets

IBM has been the topic of several recent analyst reports. Societe Generale restated a “sell” rating and set a $143.00 price objective on shares of International Business Machines in a report on Friday, January 5th. Bank of America upped their price objective on shares of International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Evercore ISI upgraded International Business Machines from an “in-line” rating to an “outperform” rating and upped their target price for the company from $165.00 to $200.00 in a research report on Friday, January 19th. Sanford C. Bernstein upped their target price on International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a research report on Thursday, March 7th. Finally, StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, International Business Machines presently has an average rating of “Hold” and an average target price of $177.23.

Institutional Investors Weigh In On International Business Machines

Hedge funds have recently bought and sold shares of the stock. Naples Money Management LLC purchased a new stake in International Business Machines in the 4th quarter worth approximately $28,000. Creekmur Asset Management LLC purchased a new stake in International Business Machines in the 4th quarter worth approximately $29,000. Briaud Financial Planning Inc purchased a new stake in International Business Machines in the 3rd quarter worth approximately $31,000. Ables Iannone Moore & Associates Inc. purchased a new position in shares of International Business Machines during the 4th quarter valued at approximately $31,000. Finally, Stone House Investment Management LLC lifted its position in shares of International Business Machines by 971.4% during the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after buying an additional 204 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 1.0 %

The stock has a market cap of $168.69 billion, a PE ratio of 22.63, a price-to-earnings-growth ratio of 3.57 and a beta of 0.70. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 2.22. The business has a 50-day moving average price of $188.36 and a 200-day moving average price of $169.98.

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.