International Business Machines (NYSE:IBM) Shares Down 0.5% - Here's What Happened

International Business Machines Co. (NYSE:IBM - Get Free Report) was down 0.5% during trading on Thursday . The company traded as low as $259.26 and last traded at $259.52. 660,541 shares were traded during mid-day trading, a decline of 86% from the average session volume of 4,778,547 shares. The stock had previously closed at $260.87.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on IBM shares. Citigroup reiterated an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. Jefferies Financial Group reiterated a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Wedbush reaffirmed an "outperform" rating and issued a $300.00 target price on shares of International Business Machines in a report on Wednesday, May 7th. Morgan Stanley decreased their price target on shares of 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. Finally, KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the company a "hold" rating in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $249.06.

International Business Machines Stock Performance

The stock's 50 day simple moving average is $244.79 and its two-hundred day simple moving average is $237.48. The company has a market cap of $242.36 billion, a PE ratio of 40.63, a P/E/G ratio of 5.81 and a beta of 0.64. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

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

International Business Machines Increases Dividend

The firm 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 dividend of $1.68 per share. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.58%. International Business Machines's payout ratio is presently 115.66%.

Insider Buying and Selling

In related news, SVP Robert David Thomas sold 26,543 shares of the firm's stock in a transaction dated 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 sale, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. This trade represents a 37.10% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.18% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Tallon Kerry Patrick acquired a new stake in International Business Machines during the 4th quarter valued at approximately $902,000. Perpetual Ltd boosted its stake in shares of International Business Machines by 26.8% during the 4th quarter. Perpetual Ltd now owns 10,837 shares of the technology company's stock valued at $2,382,000 after buying an additional 2,291 shares during the last quarter. Clear Harbor Asset Management LLC grew its position in shares of International Business Machines by 22.8% during the fourth quarter. Clear Harbor Asset Management LLC now owns 2,853 shares of the technology company's stock worth $627,000 after buying an additional 530 shares in the last quarter. Roberts Wealth Advisors LLC bought a new stake in shares of International Business Machines in the fourth quarter worth $200,000. Finally, Proquility Private Wealth Partners LLC raised its holdings in International Business Machines by 4.3% in the fourth quarter. Proquility Private Wealth Partners LLC now owns 14,546 shares of the technology company's stock valued at $3,198,000 after acquiring an additional 595 shares in the last quarter. 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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