International Business Machines (NYSE:IBM) Stock Price Down 0.4% – Here’s What Happened

International Business Machines Co. (NYSE:IBM) shares fell 0.4% during mid-day trading on Thursday . The company traded as low as $262.15 and last traded at $263.37. 1,722,231 shares were traded during mid-day trading, a decline of 63% from the average session volume of 4,606,184 shares. The stock had previously closed at $264.32.

Analyst Upgrades and Downgrades

IBM has been the subject of several research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research note on Monday, January 27th. Bank of America raised their price objective on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Wedbush began coverage on shares of International Business Machines in a research note on Monday, February 3rd. They issued an “outperform” rating on the stock. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, February 5th. Finally, UBS Group upped their price objective on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research note on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $231.44.

International Business Machines Trading Down 1.1 %

The firm’s fifty day moving average price is $235.27 and its 200-day moving average price is $221.81. The company has a market cap of $242.05 billion, a price-to-earnings ratio of 40.84, a P/E/G ratio of 5.81 and a beta of 0.76. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. On average, equities analysts expect that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is 104.21%.

Institutional Trading of International Business Machines

Several hedge funds have recently added to or reduced their stakes in the business. Compass Financial Services Inc bought a new stake in shares of International Business Machines during the fourth quarter valued at about $26,000. Hazlett Burt & Watson Inc. increased its stake in International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after buying an additional 116 shares during the period. Hara Capital LLC bought a new stake in shares of International Business Machines during the 3rd quarter worth about $29,000. Vision Financial Markets LLC acquired a new stake in shares of International Business Machines in the 4th quarter worth approximately $31,000. Finally, Avondale Wealth Management boosted its holdings in shares of International Business Machines by 56.0% in the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after acquiring an additional 56 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

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.