International Business Machines (NYSE:IBM) Shares Down 0% – Here’s Why

Shares of International Business Machines Co. (NYSE:IBM) dropped 0% on Tuesday . The stock traded as low as $226.67 and last traded at $227.32. Approximately 495,977 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 4,216,282 shares. The stock had previously closed at $227.39.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Bank of America upped their price objective on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a research report on Wednesday, October 2nd. Morgan Stanley lowered their target price on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. UBS Group lifted their price target on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. Finally, Evercore ISI upped their price objective on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, International Business Machines presently has an average rating of “Hold” and an average price target of $208.12.

International Business Machines Stock Up 0.1 %

The firm has a market cap of $210.42 billion, a price-to-earnings ratio of 33.09, a P/E/G ratio of 5.11 and a beta of 0.73. The firm’s fifty day moving average is $220.63 and its two-hundred day moving average is $197.69. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same period in the previous year, the company earned $2.20 earnings per share. International Business Machines’s revenue was up 1.5% compared to the same quarter last year. On average, sell-side analysts expect that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $1.67 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 2.94%. International Business Machines’s payout ratio is presently 97.23%.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.07% of the stock is currently owned by insiders.

Institutional Investors Weigh In On International Business Machines

Hedge funds and other institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC lifted its position in International Business Machines by 20,324.5% in the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after purchasing an additional 2,702,340 shares during the period. Holocene Advisors LP bought a new position in shares of International Business Machines in the third quarter worth about $573,306,000. State Street Corp increased its holdings in shares of International Business Machines by 2.2% in the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after purchasing an additional 1,200,803 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of International Business Machines by 306.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock valued at $242,441,000 after buying an additional 1,056,759 shares during the period. Finally, Eagle Asset Management Inc. raised its position in shares of International Business Machines by 587.1% during the third quarter. Eagle Asset Management Inc. now owns 628,213 shares of the technology company’s stock worth $134,262,000 after acquiring an additional 536,785 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

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.