International Business Machines (NYSE:IBM) Stock Price Up 1.6% – Here’s What Happened

International Business Machines Co. (NYSE:IBM) shot up 1.6% during trading on Tuesday . The stock traded as high as $226.71 and last traded at $226.30. 727,332 shares were traded during trading, a decline of 71% from the average session volume of 2,470,497 shares. The stock had previously closed at $222.67.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Bank of America upped their price objective on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Jefferies Financial Group increased their price target on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. The Goldman Sachs Group boosted their price objective on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $214.88.

International Business Machines Stock Down 0.4 %

The firm has a market cap of $206.33 billion, a PE ratio of 32.48, a PEG ratio of 5.18 and a beta of 0.74. The business’s 50 day moving average price is $221.37 and its 200 day moving average price is $208.59. 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 posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping 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 return on equity of 40.52% and a net margin of 10.22%. International Business Machines’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.20 EPS. On average, equities research analysts expect that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were paid a dividend of $1.67 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 2.99%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Insider Transactions at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.07% of the company’s stock.

Institutional Trading of International Business Machines

Several large investors have recently added to or reduced their stakes in the stock. Ellenbecker Investment Group boosted its stake in shares of International Business Machines by 2.3% in the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock valued at $453,000 after purchasing an additional 46 shares during the period. Goldstein Advisors LLC lifted its stake in International Business Machines by 4.0% in the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock worth $269,000 after acquiring an additional 47 shares during the last quarter. Vertex Planning Partners LLC grew its holdings in International Business Machines by 3.6% during the 3rd quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock worth $298,000 after acquiring an additional 47 shares in the last quarter. Sollinda Capital Management LLC increased its position in shares of International Business Machines by 3.7% in the 3rd quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock valued at $301,000 after purchasing an additional 49 shares during the last quarter. Finally, Lansing Street Advisors raised its holdings in shares of International Business Machines by 3.4% in the 3rd quarter. Lansing Street Advisors now owns 1,503 shares of the technology company’s stock valued at $332,000 after purchasing an additional 49 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

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.