International Business Machines (NYSE:IBM) Shares Down 1.1% – Here’s What Happened

Shares of International Business Machines Co. (NYSE:IBM) traded down 1.1% during trading on Wednesday . The company traded as low as $226.13 and last traded at $226.30. 755,626 shares changed hands during trading, a decline of 82% from the average session volume of 4,236,203 shares. The stock had previously closed at $228.83.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on IBM. Evercore ISI boosted their price target on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Jefferies Financial Group boosted their target price on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Stifel Nicolaus raised their target price on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Bank of America upped their price target on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Morgan Stanley decreased their price objective on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines has an average rating of “Hold” and an average target price of $208.12.

International Business Machines Stock Performance

The stock has a 50-day moving average of $219.93 and a 200 day moving average of $196.43. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The firm has a market capitalization of $209.89 billion, a P/E ratio of 32.94, a price-to-earnings-growth ratio of 5.08 and a beta of 0.71.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 40.52% and a net margin of 10.22%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the company posted $2.20 earnings per share. On average, research analysts anticipate that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $1.67 per share. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 2.94%. International Business Machines’s dividend payout ratio (DPR) is currently 97.23%.

Insider Activity at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the sale, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. raised its stake in shares of International Business Machines by 40.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after purchasing an additional 166 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of International Business Machines during the 2nd quarter worth about $7,160,000. Philip James Wealth Mangement LLC acquired a new position in International Business Machines in the 3rd quarter valued at about $5,117,000. Aljian Capital Management LLC bought a new position in International Business Machines in the 3rd quarter valued at about $611,000. Finally, Focused Wealth Management Inc lifted its position in International Business Machines by 52.2% during the third quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company’s stock worth $2,504,000 after acquiring an additional 3,887 shares during the last quarter. Institutional investors and hedge funds 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.