International Business Machines Corporation (NYSE:IBM - Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $284.79 and last traded at $282.96, with a volume of 3067681 shares changing hands. The stock had previously closed at $281.83.
Analyst Upgrades and Downgrades
IBM has been the subject of a number of recent research reports. Erste Group Bank raised shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. BMO Capital Markets reissued a "market perform" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Citigroup restated an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. KGI Securities set a $242.00 price target on shares of International Business Machines and gave the company a "hold" rating in a report on Thursday, April 24th. Finally, Wedbush reissued an "outperform" rating and set a $300.00 price objective on shares of International Business Machines in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $252.19.
View Our Latest Analysis on International Business Machines
International Business Machines Stock Performance
The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09. The company has a market capitalization of $263.16 billion, a PE ratio of 48.74, a PEG ratio of 5.95 and a beta of 0.66. The firm's 50-day simple moving average is $255.73 and its 200-day simple moving average is $244.81.
International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.42 by $0.18. The firm had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. International Business Machines's quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.68 earnings per share. On average, research analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current year.
International Business Machines Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were issued a $1.68 dividend. This is an increase from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.37%. International Business Machines's payout ratio is presently 115.66%.
Institutional Investors Weigh In On International Business Machines
Hedge funds have recently modified their holdings of the business. Tallon Kerry Patrick bought a new stake in International Business Machines during the fourth quarter valued at about $902,000. Brighton Jones LLC boosted its holdings in shares of International Business Machines by 12.4% in the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock valued at $4,619,000 after buying an additional 2,323 shares in the last quarter. Strategic Financial Concepts LLC grew its position in shares of International Business Machines by 25.7% in the 4th quarter. Strategic Financial Concepts LLC now owns 3,743 shares of the technology company's stock worth $823,000 after buying an additional 765 shares during the last quarter. Empower Advisory Group LLC raised its stake in shares of International Business Machines by 13.2% during the 4th quarter. Empower Advisory Group LLC now owns 8,560 shares of the technology company's stock worth $1,882,000 after acquiring an additional 999 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in International Business Machines by 1.4% in the fourth quarter. Venturi Wealth Management LLC now owns 7,809 shares of the technology company's stock worth $1,717,000 after purchasing an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.
About International Business Machines
(
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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.
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