International Business Machines (NYSE:IBM) Shares Up 1.1% After Dividend Announcement

International Business Machines Co. (NYSE:IBM - Get Free Report) shares shot up 1.1% during trading on Tuesday after the company announced a dividend. The company traded as high as $239.35 and last traded at $238.79. 922,194 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 5,003,829 shares. The stock had previously closed at $236.16.The newly announced dividend which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be paid a $1.68 dividend. This is a positive change 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 2.82%. International Business Machines's dividend payout ratio is currently 114.97%.

Analyst Upgrades and Downgrades

IBM has been the subject of a number of research analyst reports. BMO Capital Markets restated a "market perform" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Royal Bank of Canada reaffirmed an "outperform" rating and set a $276.00 target price on shares of International Business Machines in a research note on Monday, April 14th. JPMorgan Chase & Co. boosted their price target on shares of International Business Machines from $233.00 to $244.00 and gave the stock a "neutral" rating in a research report on Thursday, January 30th. StockNews.com upgraded shares of International Business Machines from a "hold" rating to a "buy" rating in a research report on Thursday, April 24th. Finally, Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $242.41.

International Business Machines Price Performance

The company's 50 day moving average is $244.78 and its 200 day moving average is $233.94. The firm has a market capitalization of $220.95 billion, a price-to-earnings ratio of 37.25, a P/E/G ratio of 5.81 and a beta of 0.67. 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 posted its earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. The firm had revenue of $14.54 billion during the quarter, compared to analysts' expectations of $14.41 billion. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The business's revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.68 earnings per share. On average, equities research analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the sale, the senior vice president now directly owns 45,007 shares in the company, valued at $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On International Business Machines

Institutional investors have recently bought and sold shares of the company. JBR Co Financial Management Inc increased its position in shares of International Business Machines by 0.6% during the fourth quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company's stock valued at $1,405,000 after buying an additional 40 shares during the period. Wealth Dimensions Group Ltd. boosted its position in shares of International Business Machines by 1.0% during the 4th quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company's stock valued at $873,000 after acquiring an additional 40 shares during the last quarter. Pallas Capital Advisors LLC lifted its position in International Business Machines by 0.9% during the first quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company's stock valued at $1,195,000 after purchasing an additional 42 shares during the last quarter. Schechter Investment Advisors LLC lifted its holdings in shares of International Business Machines by 0.7% during the 4th quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company's stock worth $1,396,000 after acquiring an additional 43 shares during the last quarter. Finally, Titleist Asset Management LLC lifted its stake in International Business Machines by 3.1% during the fourth quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company's stock worth $315,000 after purchasing an additional 43 shares during the last quarter. 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.

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