International Business Machines (NYSE:IBM) Shares Down 1.1% – Here’s What Happened

International Business Machines Co. (NYSE:IBM)’s stock price was down 1.1% during mid-day trading on Wednesday . The stock traded as low as $246.23 and last traded at $246.25. Approximately 1,095,022 shares traded hands during trading, a decline of 72% from the average daily volume of 3,909,686 shares. The stock had previously closed at $248.95.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on IBM shares. Oppenheimer started coverage on International Business Machines in a research note on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price objective for the company. Sanford C. Bernstein lifted their price objective on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. lifted their price objective on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Wedbush initiated coverage on International Business Machines in a research report on Monday, February 3rd. They set an “outperform” rating on the stock. Finally, The Goldman Sachs Group restated a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, International Business Machines currently has an average rating of “Hold” and an average target price of $231.44.

International Business Machines Stock Performance

The stock has a market cap of $229.54 billion, a PE ratio of 38.39, a P/E/G ratio of 5.81 and a beta of 0.74. The company has a fifty day moving average price of $243.72 and a 200 day moving average price of $227.70. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

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

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were issued a dividend of $1.67 per share. The ex-dividend date was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.70%. International Business Machines’s dividend payout ratio is presently 104.21%.

Insider Activity at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction 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. The trade was 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 owned by company insiders.

Institutional Trading of International Business Machines

Several large investors have recently bought and sold shares of the company. Northstar Financial Companies Inc. bought a new stake in International Business Machines during the 4th quarter valued at approximately $1,027,000. Old North State Trust LLC boosted its position in International Business Machines by 38.9% during the 4th quarter. Old North State Trust LLC now owns 6,109 shares of the technology company’s stock valued at $1,343,000 after acquiring an additional 1,710 shares in the last quarter. Capstone Triton Financial Group LLC boosted its position in International Business Machines by 1.9% during the 4th quarter. Capstone Triton Financial Group LLC now owns 6,990 shares of the technology company’s stock valued at $1,537,000 after acquiring an additional 131 shares in the last quarter. IronOak Wealth LLC. bought a new stake in shares of International Business Machines in the 4th quarter worth approximately $235,000. Finally, Elite Financial Inc. bought a new stake in shares of International Business Machines in the 4th quarter worth approximately $673,000. 58.96% of the stock is owned by institutional investors.

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.