Bank of America Has Lowered Expectations for International Business Machines (NYSE:IBM) Stock Price

International Business Machines (NYSE:IBM - Free Report) had its price target decreased by Bank of America from $320.00 to $310.00 in a research report report published on Thursday,Benzinga reports. Bank of America currently has a buy rating on the technology company's stock.

IBM has been the topic of a number of other reports. Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Melius Research raised shares of International Business Machines to a "strong-buy" rating in a research note on Monday, July 7th. Stifel Nicolaus raised their target price on shares of International Business Machines from $290.00 to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Royal Bank Of Canada lifted their price target on shares of International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Finally, Wall Street Zen lowered shares of International Business Machines from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, International Business Machines currently has a consensus rating of "Moderate Buy" and an average price target of $268.75.

International Business Machines Stock Performance

Shares of NYSE IBM traded down $0.81 during trading on Thursday, reaching $259.70. 7,751,998 shares of the company traded hands, compared to its average volume of 4,403,863. The firm's fifty day simple moving average is $277.69 and its 200 day simple moving average is $256.04. The stock has a market cap of $241.36 billion, a P/E ratio of 42.16, a PEG ratio of 5.50 and a beta of 0.69. International Business Machines has a 12-month low of $181.81 and a 12-month high of $296.16. The company has a current ratio of 0.91, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00.

International Business Machines (NYSE:IBM - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, beating analysts' consensus estimates of $2.65 by $0.15. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%. The firm had revenue of $16.98 billion for the quarter, compared to analysts' expectations of $16.58 billion. During the same period last year, the firm earned $2.43 EPS. The company's quarterly revenue was up 7.7% on a year-over-year basis. As a group, research analysts anticipate that International Business Machines will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were given a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.59%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio is currently 109.09%.

Institutional Trading of International Business Machines

A number of large investors have recently modified their holdings of IBM. Family CFO Inc acquired a new position in International Business Machines in the second quarter valued at $25,000. Christopher J. Hasenberg Inc acquired a new position in International Business Machines in the first quarter valued at $27,000. SSA Swiss Advisors AG acquired a new position in International Business Machines in the first quarter valued at $28,000. Highline Wealth Partners LLC boosted its stake in International Business Machines by 85.0% in the second quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company's stock valued at $33,000 after acquiring an additional 51 shares in the last quarter. Finally, Dagco Inc. acquired a new position in International Business Machines in the first quarter valued at $31,000. Hedge funds and other institutional investors own 58.96% of the company's stock.

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.