International Business Machines (NYSE:IBM) Shares Down 0.4% - Here's What Happened

International Business Machines Co. (NYSE:IBM - Get Free Report)'s share price fell 0.4% during mid-day trading on Tuesday . The company traded as low as $266.53 and last traded at $267.40. 491,160 shares were traded during trading, a decline of 88% from the average session volume of 4,207,945 shares. The stock had previously closed at $268.41.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. StockNews.com upgraded shares of International Business Machines from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. Wedbush reaffirmed an "outperform" rating and set a $300.00 price objective on shares of International Business Machines in a report on Wednesday, May 7th. Bank of America raised their price target on International Business Machines from $260.00 to $270.00 and gave the company a "buy" rating in a report on Thursday, January 30th. Finally, KGI Securities set a $242.00 target price on International Business Machines and gave the stock a "hold" rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, International Business Machines currently has a consensus rating of "Moderate Buy" and an average price target of $249.06.

International Business Machines Trading Down 0.4%

The business has a 50-day moving average of $244.11 and a 200 day moving average of $237.11. The stock has a market cap of $248.34 billion, a PE ratio of 41.57, a PEG ratio of 5.81 and a beta of 0.64. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The business had revenue of $14.54 billion for the quarter, compared to analysts' expectations of $14.41 billion. During the same quarter last year, the company earned $1.68 EPS. The company's revenue for the quarter was up .5% compared to the same quarter last year. Equities research analysts predict that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.51%. This is a boost from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio is 115.66%.

Insider Activity

In other news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the transaction, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. The trade was a 37.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.18% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Christopher J. Hasenberg Inc purchased a new position in International Business Machines in the first quarter worth $27,000. SSA Swiss Advisors AG purchased a new stake in International Business Machines in the 1st quarter worth approximately $28,000. Compass Financial Services Inc purchased a new stake in shares of International Business Machines in the 4th quarter worth about $26,000. Dagco Inc. bought a new position in International Business Machines in the 1st quarter valued at approximately $31,000. Finally, Vision Financial Markets LLC purchased a new stake in shares of International Business Machines in the fourth quarter worth $31,000. 58.96% of the stock is 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.

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