International Business Machines Corporation (NYSE:IBM - Get Free Report)'s share price reached a new 52-week high on Tuesday . The company traded as high as $289.58 and last traded at $289.25, with a volume of 3779323 shares traded. The stock had previously closed at $280.97.
Analyst Ratings Changes
IBM has been the subject of several analyst reports. Morgan Stanley lowered their target price on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Wedbush boosted their price objective on International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research report on Friday. Erste Group Bank upgraded International Business Machines from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Royal Bank Of Canada boosted their target price on International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Finally, Wall Street Zen lowered shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, International Business Machines currently has a consensus rating of "Hold" and an average price target of $253.75.
Check Out Our Latest Research Report on IBM
International Business Machines Stock Performance
The stock has a fifty day moving average of $258.71 and a 200-day moving average of $246.07. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. The stock has a market cap of $273.14 billion, a PE ratio of 50.58, a price-to-earnings-growth ratio of 5.90 and a beta of 0.66.
International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.42 by $0.18. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The business had revenue of $14.54 billion during the quarter, compared to analysts' expectations of $14.41 billion. During the same quarter in the prior year, the business earned $1.68 earnings per share. The company's quarterly revenue was up .5% compared to the same quarter last year. On average, equities analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current year.
International Business Machines Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders 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 2.29%. International Business Machines's payout ratio is presently 115.66%.
Hedge Funds Weigh In On International Business Machines
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Howe & Rusling Inc. grew its holdings in International Business Machines by 7.7% in the first quarter. Howe & Rusling Inc. now owns 3,390 shares of the technology company's stock valued at $843,000 after purchasing an additional 243 shares during the last quarter. Compass Financial Services Inc boosted its position in shares of International Business Machines by 41.5% in the 1st quarter. Compass Financial Services Inc now owns 167 shares of the technology company's stock worth $42,000 after buying an additional 49 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its stake in International Business Machines by 51.9% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 313 shares of the technology company's stock valued at $78,000 after acquiring an additional 107 shares during the last quarter. Modern Wealth Management LLC increased its holdings in International Business Machines by 17.8% during the 1st quarter. Modern Wealth Management LLC now owns 17,477 shares of the technology company's stock valued at $4,346,000 after acquiring an additional 2,640 shares in the last quarter. Finally, Parkshore Wealth Management Inc. acquired a new position in International Business Machines during the first quarter worth about $223,000. Institutional investors and hedge funds 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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