International Business Machines (NYSE:IBM) Trading Down 1.1% on Analyst Downgrade

International Business Machines Co. (NYSE:IBM)’s share price traded down 1.1% on Friday after Morgan Stanley lowered their price target on the stock from $186.00 to $179.00. Morgan Stanley currently has an equal weight rating on the stock. International Business Machines traded as low as $165.73 and last traded at $167.01. 3,196,762 shares were traded during trading, a decline of 35% from the average session volume of 4,933,272 shares. The stock had previously closed at $168.91.

IBM has been the topic of several other research reports. Wedbush raised their price objective on shares of International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday. UBS Group lifted their target price on shares of International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a research report on Monday, April 22nd. JPMorgan Chase & Co. decreased their target price on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a research report on Thursday. Jefferies Financial Group decreased their target price on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a research report on Tuesday, April 23rd. Finally, Bank of America lifted their target price on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $184.08.

Hedge Funds Weigh In On International Business Machines

Several hedge funds and other institutional investors have recently modified their holdings of IBM. Evanson Asset Management LLC increased its position in shares of International Business Machines by 10.4% during the third quarter. Evanson Asset Management LLC now owns 1,989 shares of the technology company’s stock valued at $279,000 after buying an additional 187 shares during the period. Lantz Financial LLC increased its position in shares of International Business Machines by 4.9% during the third quarter. Lantz Financial LLC now owns 11,238 shares of the technology company’s stock valued at $1,577,000 after buying an additional 521 shares during the period. Golden State Equity Partners increased its position in shares of International Business Machines by 3.2% during the third quarter. Golden State Equity Partners now owns 14,506 shares of the technology company’s stock valued at $2,035,000 after buying an additional 443 shares during the period. Signet Investment Advisory Group Inc. increased its position in shares of International Business Machines by 0.8% during the third quarter. Signet Investment Advisory Group Inc. now owns 14,538 shares of the technology company’s stock valued at $2,040,000 after buying an additional 115 shares during the period. Finally, Avestar Capital LLC increased its position in shares of International Business Machines by 28.5% during the third quarter. Avestar Capital LLC now owns 2,606 shares of the technology company’s stock valued at $366,000 after buying an additional 578 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Down 1.1 %

The firm has a market cap of $153.21 billion, a PE ratio of 18.93, a PEG ratio of 3.33 and a beta of 0.70. The company has a quick ratio of 0.93, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. The stock’s fifty day simple moving average is $187.60 and its two-hundred day simple moving average is $170.34.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The business’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.36 earnings per share. On average, sell-side analysts forecast that International Business Machines Co. will post 9.99 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Shareholders of record on Friday, February 9th were issued a $1.66 dividend. This represents a $6.64 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date was Thursday, February 8th. International Business Machines’s dividend payout ratio (DPR) is presently 75.20%.

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.