International Business Machines (NYSE:IBM) Stock Price Down 2.6% – What’s Next?

Shares of International Business Machines Co. (NYSE:IBM) were down 2.6% during trading on Thursday . The stock traded as low as $242.53 and last traded at $243.57. 1,602,683 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 4,105,182 shares. The stock had previously closed at $249.98.

Analyst Ratings Changes

Several analysts have weighed in on IBM shares. Wedbush initiated coverage on shares of International Business Machines in a research note on Monday, February 3rd. They issued an “outperform” rating for the company. UBS Group raised their price objective on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday, January 14th. Bank of America raised their price target on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. BMO Capital Markets upped their price target 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. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and an average target price of $231.13.

International Business Machines Price Performance

The firm has a market capitalization of $225.77 billion, a P/E ratio of 37.99, a PEG ratio of 5.81 and a beta of 0.67. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The company has a fifty day moving average of $251.05 and a 200 day moving average of $232.26.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. Sell-side analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s dividend payout ratio is presently 104.21%.

Insider Buying and Selling 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 value of $6,715,644.43. Following the completion of the sale, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at $11,387,221.07. The trade was a 37.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On International Business Machines

Large investors have recently modified their holdings of the company. Compass Financial Services Inc bought a new stake in shares of International Business Machines during the fourth quarter worth about $26,000. Vision Financial Markets LLC bought a new stake in International Business Machines during the 4th quarter worth approximately $31,000. Avondale Wealth Management raised its stake in shares of International Business Machines by 56.0% in the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after purchasing an additional 56 shares during the last quarter. Valued Wealth Advisors LLC lifted its holdings in shares of 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 purchasing an additional 90 shares in the last quarter. Finally, Rialto Wealth Management LLC bought a new stake in International Business Machines during the fourth quarter worth $35,000. 58.96% of the stock is currently owned by institutional investors.

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.