International Business Machines (NYSE:IBM) Stock Price Up 0.6% – Still a Buy?

International Business Machines Co. (NYSE:IBM)’s stock price rose 0.6% on Monday . The stock traded as high as $261.94 and last traded at $260.65. Approximately 3,922,262 shares changed hands during trading, a decline of 25% from the average daily volume of 5,199,203 shares. The stock had previously closed at $259.19.

Wall Street Analyst Weigh In

A number of research firms have recently commented on IBM. Morgan Stanley upped their price target on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Sanford C. Bernstein raised their target price on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. UBS Group boosted their price target on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a report on Tuesday, January 14th. Wedbush began coverage on International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating on the stock. Finally, BMO Capital Markets upped their target price on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. Two 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 has an average rating of “Hold” and a consensus price target of $231.44.

International Business Machines Stock Up 0.3 %

The company’s fifty day simple moving average is $233.32 and its 200-day simple moving average is $220.66. The firm has a market capitalization of $244.08 billion, a PE ratio of 41.18, a price-to-earnings-growth ratio of 5.73 and a beta of 0.76. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating 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%. On average, analysts forecast that International Business Machines Co. will post 10.77 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be paid a dividend of $1.67 per share. The ex-dividend date is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.53%. International Business Machines’s payout ratio is 104.21%.

Institutional Investors Weigh In On International Business Machines

Institutional investors and hedge funds have recently made changes to their positions in the stock. Capital World Investors lifted its position in International Business Machines by 413.5% during the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock worth $2,634,577,000 after acquiring an additional 9,650,534 shares during the period. Norges Bank acquired a new stake in shares of International Business Machines during the fourth quarter worth about $1,236,176,000. International Assets Investment Management LLC lifted its holdings in shares of International Business Machines by 20,324.5% during 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. Raymond James Financial Inc. acquired a new position in International Business Machines in the 4th quarter worth approximately $592,746,000. Finally, Holocene Advisors LP purchased a new position in International Business Machines during the 3rd quarter worth approximately $573,306,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

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.