International Business Machines (NYSE:IBM) Stock Price Up 1.6% – Here’s Why

International Business Machines Co. (NYSE:IBM)’s stock price traded up 1.6% during trading on Monday . The stock traded as high as $266.45 and last traded at $265.74. 2,495,463 shares traded hands during mid-day trading, a decline of 36% from the average session volume of 3,897,224 shares. The stock had previously closed at $261.54.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on IBM shares. Jefferies Financial Group increased their price objective on International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Sanford C. Bernstein upped their target price on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research report on Friday. The Goldman Sachs Group reissued a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. Finally, Oppenheimer assumed coverage on shares of International Business Machines in a research note on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $231.44.

International Business Machines Stock Performance

The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The company has a market capitalization of $238.24 billion, a PE ratio of 40.08, a PEG ratio of 5.81 and a beta of 0.74. The business’s 50-day moving average is $241.29 and its 200-day moving average is $226.62.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data 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 net margin of 9.60% and a return on equity of 38.99%. On average, research analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be paid a $1.67 dividend. The ex-dividend date is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.60%. International Business Machines’s dividend payout ratio is presently 104.21%.

Insiders Place Their Bets

In other news, SVP Robert David Thomas sold 26,543 shares of the 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 transaction, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. This represents a 37.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.07% of the stock is currently owned by insiders.

Institutional Investors Weigh In On International Business Machines

A number of hedge funds have recently modified their holdings of the business. Pettinga Financial Advisors LLC purchased a new stake in shares of International Business Machines in the third quarter worth $221,000. Capital Performance Advisors LLP purchased a new position in International Business Machines in the third quarter worth about $43,000. Fiera Capital Corp increased its position in shares of International Business Machines by 3.6% during the 3rd quarter. Fiera Capital Corp now owns 4,107 shares of the technology company’s stock valued at $908,000 after purchasing an additional 142 shares during the last quarter. United Bank raised its stake in shares of International Business Machines by 53.3% in the third quarter. United Bank now owns 5,628 shares of the technology company’s stock valued at $1,244,000 after acquiring an additional 1,956 shares during the period. Finally, Rovin Capital UT ADV bought a new stake in International Business Machines in the third quarter worth about $237,000. 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.