International Business Machines (NYSE:IBM) Stock Price Up 0.5% – Should You Buy?

International Business Machines Co. (NYSE:IBM) shares traded up 0.5% during mid-day trading on Tuesday . The company traded as high as $208.12 and last traded at $207.25. 526,358 shares traded hands during trading, a decline of 88% from the average session volume of 4,245,001 shares. The stock had previously closed at $206.32.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Jefferies Financial Group increased their price target on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Royal Bank of Canada restated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research report on Thursday, October 24th. Bank of America lifted their price objective on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Evercore ISI increased 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. Finally, Morgan Stanley lowered 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 research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, International Business Machines has an average rating of “Hold” and a consensus price target of $208.12.

International Business Machines Trading Up 2.9 %

The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The stock’s fifty day moving average price is $217.49 and its 200 day moving average price is $191.86. The stock has a market cap of $197.49 billion, a P/E ratio of 31.09, a PEG ratio of 4.64 and a beta of 0.71.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter in the prior year, the company earned $2.20 earnings per share. The business’s revenue was up 1.5% compared to the same quarter last year. Equities research analysts expect that International Business Machines Co. will post 10.11 earnings per share for the current year.

International Business Machines Announces Dividend

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 paid a $1.67 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.13%. International Business Machines’s dividend payout ratio is currently 97.23%.

Hedge Funds Weigh In On International Business Machines

Several large investors have recently modified their holdings of the stock. FPC Investment Advisory Inc. purchased a new position in International Business Machines in the first quarter worth about $26,000. ESL Trust Services LLC purchased a new position in International Business Machines in the 1st quarter worth approximately $28,000. Hazlett Burt & Watson Inc. lifted its position in International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after acquiring an additional 116 shares in the last quarter. Hara Capital LLC purchased a new stake in International Business Machines during the 3rd quarter valued at $29,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in shares of International Business Machines in the 2nd quarter worth $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.