International Business Machines (NYSE:IBM) Shares Up 1.3% – Here’s What Happened

International Business Machines Co. (NYSE:IBM)’s stock price shot up 1.3% during mid-day trading on Friday . The company traded as high as $209.43 and last traded at $209.43. 579,738 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 4,257,636 shares. The stock had previously closed at $206.72.

Analysts Set New Price Targets

A number of research firms have recently issued reports on IBM. DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a report on Wednesday, October 2nd. Morgan Stanley dropped their target price on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Evercore ISI boosted their target price on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Bernstein Bank boosted their target price on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. Finally, Jefferies Financial Group lifted their price target on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $208.12.

International Business Machines Price Performance

The company has a market capitalization of $192.50 billion, a price-to-earnings ratio of 30.48, a price-to-earnings-growth ratio of 4.28 and a beta of 0.70. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The company has a 50 day simple moving average of $216.60 and a 200 day simple moving average of $191.05.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company 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 firm’s revenue was up 1.5% on a year-over-year basis. As a group, research analysts predict that International Business Machines Co. will post 10.11 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.20%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

Institutional Investors Weigh In On International Business Machines

Institutional investors and hedge funds have recently modified their holdings of the stock. FPC Investment Advisory Inc. purchased a new position in International Business Machines in the first quarter valued at about $26,000. ESL Trust Services LLC purchased a new position in International Business Machines in the first quarter valued at about $28,000. Hazlett Burt & Watson Inc. boosted its holdings in International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after purchasing an additional 116 shares during the last quarter. Hara Capital LLC acquired a new stake in International Business Machines during the third quarter valued at approximately $29,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new stake in International Business Machines during the second quarter valued at approximately $36,000. 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.