International Business Machines (NYSE:IBM) Stock Price Down 2.1% – Here’s Why

International Business Machines Co. (NYSE:IBM) shares were down 2.1% during trading on Friday . The stock traded as low as $218.47 and last traded at $218.58. Approximately 554,120 shares were traded during trading, a decline of 79% from the average daily volume of 2,608,490 shares. The stock had previously closed at $223.18.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. BMO Capital Markets increased their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. Stifel Nicolaus raised their target price on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Morgan Stanley boosted their price target on shares of International Business Machines from $208.00 to $222.00 and gave the stock an “equal weight” rating in a research note on Monday, December 16th. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, Bank of America upped their target price on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, International Business Machines currently has an average rating of “Hold” and an average price target of $214.88.

International Business Machines Trading Down 1.7 %

The stock has a market capitalization of $202.87 billion, a PE ratio of 31.94, a price-to-earnings-growth ratio of 5.18 and a beta of 0.74. The business’s 50-day moving average is $221.92 and its two-hundred day moving average is $209.25. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.03. The business had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.20 earnings per share. As a group, equities research analysts anticipate that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s dividend payout ratio is presently 97.23%.

Insider Activity

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.07% of the company’s stock.

Hedge Funds Weigh In On International Business Machines

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp raised its holdings in shares of International Business Machines by 2.2% during the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after purchasing an additional 1,200,803 shares during the period. Legal & General Group Plc boosted its position in shares of International Business Machines by 4.1% in the 2nd quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock valued at $1,467,974,000 after purchasing an additional 330,694 shares during the period. Ameriprise Financial Inc. boosted its position in shares of International Business Machines by 6.4% in the second quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock worth $1,274,074,000 after buying an additional 444,698 shares during the period. FMR LLC boosted its stake in shares of International Business Machines by 6.0% during the 3rd quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock valued at $1,148,717,000 after buying an additional 294,276 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in International Business Machines by 6.8% in the second quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock worth $829,431,000 after acquiring an additional 304,390 shares in the last quarter. 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.