International Business Machines (NYSE:IBM) Shares Down 0.1% – Here’s What Happened

International Business Machines Co. (NYSE:IBM) shares were down 0.1% during mid-day trading on Monday . The company traded as low as $230.88 and last traded at $231.86. Approximately 526,371 shares were traded during trading, a decline of 87% from the average daily volume of 4,177,595 shares. The stock had previously closed at $232.20.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Bernstein Bank boosted their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. Morgan Stanley boosted their target price on shares of International Business Machines from $182.00 to $217.00 and gave the stock an “equal weight” rating in a research report on Thursday. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Evercore ISI increased their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Finally, Jefferies Financial Group upped their target price on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $205.71.

International Business Machines Stock Down 0.5 %

The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The firm has a market capitalization of $212.31 billion, a P/E ratio of 26.26, a PEG ratio of 5.21 and a beta of 0.70. The firm’s fifty day moving average price is $212.19 and its 200-day moving average price is $189.14.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The company had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same period last year, the firm earned $2.18 EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, equities research analysts forecast that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a $1.67 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 2.89%. International Business Machines’s dividend payout ratio is currently 75.65%.

Institutional Trading of International Business Machines

Several institutional investors and hedge funds have recently added to or reduced their stakes in IBM. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of International Business Machines by 0.9% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 28,055 shares of the technology company’s stock valued at $6,202,000 after purchasing an additional 246 shares during the last quarter. Northwest Investment Counselors LLC purchased a new position in shares of International Business Machines in the third quarter worth approximately $96,000. Gerber LLC acquired a new stake in shares of International Business Machines during the third quarter valued at approximately $240,000. Berry Wealth Group LP purchased a new stake in shares of International Business Machines in the 3rd quarter valued at approximately $286,000. Finally, Wealth Effects LLC boosted its stake in International Business Machines by 5.0% in the 3rd quarter. Wealth Effects LLC now owns 14,711 shares of the technology company’s stock worth $3,252,000 after purchasing an additional 700 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

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.