International Business Machines (NYSE:IBM) Sets New 52-Week High - Time to Buy?

International Business Machines Co. (NYSE:IBM - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $270.17 and last traded at $269.09, with a volume of 402845 shares changing hands. The stock had previously closed at $266.86.

Analyst Ratings Changes

Several research analysts have recently issued reports on IBM shares. BMO Capital Markets reaffirmed a "market perform" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. KGI Securities set a $242.00 price objective on International Business Machines and gave the company a "hold" rating in a research note on Thursday, April 24th. Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. Royal Bank of Canada increased their target price on shares of International Business Machines from $276.00 to $285.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Finally, Wedbush reissued an "outperform" rating and set a $300.00 target price on shares of International Business Machines in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $249.06.

International Business Machines Trading Up 0.8%

The company has a market cap of $249.96 billion, a price-to-earnings ratio of 41.96, a P/E/G ratio of 5.81 and a beta of 0.64. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The firm's 50-day moving average price is $247.80 and its 200 day moving average price is $241.38.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.42 by $0.18. The company had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The company's quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the firm posted $1.68 EPS. As a group, equities analysts expect that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be issued a $1.68 dividend. This is a boost from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.50%. International Business Machines's dividend payout ratio (DPR) is currently 115.66%.

Hedge Funds Weigh In On International Business Machines

Large investors have recently modified their holdings of the company. Treasurer of the State of North Carolina lifted its holdings in shares of International Business Machines by 0.8% in the 4th quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock worth $108,942,000 after purchasing an additional 4,131 shares in the last quarter. Blue Zone Wealth Advisors LLC bought a new position in shares of International Business Machines in the 4th quarter worth $242,000. Truist Financial Corp lifted its holdings in shares of International Business Machines by 6.5% in the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company's stock worth $178,296,000 after purchasing an additional 49,591 shares in the last quarter. Mufg Securities Americas Inc. bought a new position in International Business Machines during the 4th quarter valued at $3,000,000. Finally, QRG Capital Management Inc. lifted its stake in International Business Machines by 7.5% during the 4th quarter. QRG Capital Management Inc. now owns 150,652 shares of the technology company's stock valued at $33,118,000 after acquiring an additional 10,467 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

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.