International Business Machines Corporation (NYSE:IBM - Get Free Report)'s stock price was down 1.2% on Thursday . The stock traded as low as $282.21 and last traded at $286.74. Approximately 1,209,209 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 4,224,540 shares. The stock had previously closed at $290.14.
Analysts Set New Price Targets
Several equities analysts have weighed in on IBM shares. UBS Group reissued a "sell" rating and issued a $195.00 target price (up previously from $170.00) on shares of International Business Machines in a research note on Wednesday. Erste Group Bank raised shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. BMO Capital Markets reissued a "market perform" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Royal Bank Of Canada lifted their price target on shares of International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Finally, Melius Research raised shares of International Business Machines to a "strong-buy" rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $259.06.
Read Our Latest Research Report on IBM
International Business Machines Stock Down 1.0%
The company has a market capitalization of $266.91 billion, a price-to-earnings ratio of 49.43, a P/E/G ratio of 6.09 and a beta of 0.69. 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's fifty day moving average price is $272.42 and its 200-day moving average price is $251.52.
International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (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 for the quarter, compared to analyst estimates of $14.41 billion. During the same quarter in the prior year, the company posted $1.68 earnings per share. International Business Machines's revenue was up .5% on a year-over-year basis. On average, sell-side analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.
International Business Machines Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were issued a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.34%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio is presently 115.66%.
Institutional Trading of International Business Machines
A number of large investors have recently added to or reduced their stakes in the company. Oliver Lagore Vanvalin Investment Group acquired a new stake in International Business Machines in the second quarter valued at $59,000. CWC Advisors LLC. lifted its stake in International Business Machines by 13.4% in the second quarter. CWC Advisors LLC. now owns 1,655 shares of the technology company's stock valued at $488,000 after acquiring an additional 196 shares during the last quarter. Legacy Financial Strategies LLC lifted its stake in International Business Machines by 150.6% in the second quarter. Legacy Financial Strategies LLC now owns 2,503 shares of the technology company's stock valued at $738,000 after acquiring an additional 1,504 shares during the last quarter. Charter Oak Capital Management LLC boosted its stake in shares of International Business Machines by 10.8% during the 2nd quarter. Charter Oak Capital Management LLC now owns 2,414 shares of the technology company's stock worth $712,000 after acquiring an additional 235 shares during the period. Finally, Voisard Asset Management Group Inc. bought a new position in shares of International Business Machines during the 2nd quarter worth approximately $247,000. Institutional investors and hedge funds own 58.96% of the company's stock.
International Business Machines Company Profile
(
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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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