International Business Machines (NYSE:IBM) Hits New 12-Month High – Here’s Why

Shares of International Business Machines Co. (NYSE:IBM) reached a new 52-week high on Wednesday . The company traded as high as $265.25 and last traded at $264.30, with a volume of 6075190 shares trading hands. The stock had previously closed at $260.73.

Analyst Upgrades and Downgrades

IBM has been the subject of several recent analyst reports. UBS Group lifted their price target on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. Wedbush started coverage on International Business Machines in a research note on Monday. They issued an “outperform” rating on the stock. BMO Capital Markets raised their price objective on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. boosted their price target on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Finally, Sanford C. Bernstein raised their price objective on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, International Business Machines presently has an average rating of “Hold” and an average target price of $225.53.

International Business Machines Stock Performance

The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The business’s fifty day moving average is $228.73 and its two-hundred day moving average is $216.19. The stock has a market capitalization of $234.21 billion, a PE ratio of 39.52, a price-to-earnings-growth ratio of 5.63 and a beta of 0.76.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. As a group, research analysts anticipate that International Business Machines Co. will post 10.73 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be paid a dividend of $1.67 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.64%. International Business Machines’s dividend payout ratio is 104.21%.

Institutional Trading of International Business Machines

Several institutional investors and hedge funds have recently made changes to their positions in the business. Compass Financial Services Inc bought a new position in International Business Machines in the fourth quarter worth approximately $26,000. Hazlett Burt & Watson Inc. raised its position in shares of 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 worth $29,000 after acquiring an additional 116 shares in the last quarter. Hara Capital LLC purchased a new stake in shares of International Business Machines during the third quarter valued at about $29,000. Vision Financial Markets LLC bought a new position in shares of International Business Machines during the 4th quarter worth approximately $31,000. Finally, Avondale Wealth Management lifted its holdings in shares of International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after purchasing an additional 56 shares during the last quarter. 58.96% of the stock is currently owned by 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.