International Business Machines (NYSE:IBM) Trading Up 0.7% – Here’s What Happened

International Business Machines Co. (NYSE:IBM) traded up 0.7% during mid-day trading on Monday . The stock traded as high as $207.00 and last traded at $206.52. 514,168 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 4,220,503 shares. The stock had previously closed at $204.99.

Analysts Set New Price Targets

A number of equities analysts have recently commented on IBM shares. Stifel Nicolaus increased their price target on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a report on Wednesday, October 2nd. Jefferies Financial Group increased their target price on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. UBS Group increased their target price on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. Finally, StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $208.12.

International Business Machines Price Performance

The business’s 50 day moving average price is $218.79 and its 200 day moving average price is $193.88. The stock has a market capitalization of $192.66 billion, a P/E ratio of 30.06, a price-to-earnings-growth ratio of 4.60 and a beta of 0.71. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01.

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

International Business Machines Dividend Announcement

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 dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.21%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 97.23%.

Insider Buying and Selling at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed 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

Hedge funds have recently added to or reduced their stakes in the business. Hazlett Burt & Watson Inc. lifted its stake 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 worth $29,000 after acquiring an additional 116 shares during the period. Hara Capital LLC purchased a new stake in International Business Machines in the third quarter worth about $29,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of International Business Machines during the second quarter valued at about $36,000. Wolff Wiese Magana LLC lifted its position in shares of International Business Machines by 37.0% during the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after buying an additional 60 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of International Business Machines during the third quarter valued at about $43,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

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.