International Business Machines (NYSE:IBM) Trading Down 0.9% – Here’s What Happened

International Business Machines Co. (NYSE:IBM) dropped 0.9% during mid-day trading on Friday . The stock traded as low as $243.68 and last traded at $244.07. Approximately 419,558 shares changed hands during trading, a decline of 89% from the average daily volume of 3,883,765 shares. The stock had previously closed at $246.21.

Analysts Set New Price Targets

Several research analysts have commented on IBM shares. BMO Capital Markets raised their target price 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. Morgan Stanley lifted their price objective on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Wedbush assumed coverage on International Business Machines in a report on Monday, February 3rd. They issued an “outperform” rating for the company. Bank of America upped their price target on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. raised their price objective on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and a consensus price target of $231.44.

International Business Machines Stock Performance

The stock has a fifty day moving average price of $249.12 and a 200 day moving average price of $231.01. 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 firm has a market cap of $225.77 billion, a price-to-earnings ratio of 37.98, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74.

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

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date was Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is 104.21%.

Insider Transactions at International Business Machines

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 stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the sale, the senior vice president now owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.18% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On International Business Machines

Hedge funds and other institutional investors have recently modified their holdings of the stock. Compass Financial Services Inc acquired a new stake in International Business Machines in the 4th quarter worth $26,000. Vision Financial Markets LLC bought a new stake in shares of International Business Machines during the fourth quarter valued at approximately $31,000. Avondale Wealth Management increased its holdings in International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after buying an additional 56 shares during the period. Valued Wealth Advisors LLC increased its stake in International Business Machines by 134.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after acquiring an additional 90 shares during the period. Finally, Rialto Wealth Management LLC bought a new stake in International Business Machines in the fourth quarter valued at about $35,000. Institutional investors and hedge funds 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.