International Business Machines (NYSE:IBM) Stock Price Down 3.5% – What’s Next?

International Business Machines Co. (NYSE:IBM)’s stock price fell 3.5% during trading on Thursday . The stock traded as low as $237.22 and last traded at $243.39. 2,248,470 shares changed hands during mid-day trading, a decline of 42% from the average session volume of 3,868,619 shares. The stock had previously closed at $252.29.

Wall Street Analyst Weigh In

Several brokerages have commented on IBM. Morgan Stanley raised their price target on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. lifted their price objective on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. BMO Capital Markets boosted their price target on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. Oppenheimer began coverage on shares of International Business Machines in a research note on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price target for the company. Finally, StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Saturday, March 15th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $231.44.

International Business Machines Stock Performance

The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The business’s 50 day moving average is $245.88 and its 200 day moving average is $229.33. The stock has a market capitalization of $224.72 billion, a PE ratio of 37.84, a PEG ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping 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 research analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a $1.67 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.76%. International Business Machines’s dividend payout ratio (DPR) is 104.21%.

Insider Activity

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the sale, the senior vice president now directly owns 45,007 shares in the company, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in IBM. United Bank lifted its position in International Business Machines by 53.3% during the 3rd quarter. United Bank now owns 5,628 shares of the technology company’s stock worth $1,244,000 after acquiring an additional 1,956 shares during the period. Quest Partners LLC lifted its holdings in shares of International Business Machines by 23,700.0% in the 3rd quarter. Quest Partners LLC now owns 238 shares of the technology company’s stock valued at $53,000 after buying an additional 237 shares during the period. Pathstone Holdings LLC lifted its holdings in shares of International Business Machines by 3.2% in the 3rd quarter. Pathstone Holdings LLC now owns 115,093 shares of the technology company’s stock valued at $25,445,000 after buying an additional 3,558 shares during the period. Meeder Asset Management Inc. lifted its holdings in shares of International Business Machines by 40.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after buying an additional 166 shares during the period. Finally, Thompson Davis & CO. Inc. acquired a new position in shares of International Business Machines in the 3rd quarter valued at about $229,000. 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.