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International Business Machines (NYSE:IBM) Trading Up 1.3% - Here's What Happened

International Business Machines logo with Computer and Technology background

International Business Machines Corporation (NYSE:IBM - Get Free Report)'s stock price rose 1.3% during mid-day trading on Wednesday . The stock traded as high as $286.17 and last traded at $285.62. Approximately 828,316 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 4,224,114 shares. The stock had previously closed at $281.96.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on IBM shares. Wall Street Zen downgraded shares of International Business Machines from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. JPMorgan Chase & Co. lifted their price objective on shares of International Business Machines from $244.00 to $290.00 and gave the company a "neutral" rating in a report on Thursday. Bank of America lowered their price target on International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a research report on Thursday. KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the company a "hold" rating in a report on Thursday, April 24th. Finally, Royal Bank Of Canada increased their price objective on International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $268.75.

Read Our Latest Stock Analysis on IBM

International Business Machines Price Performance

The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09. The company's 50 day moving average price is $277.95 and its 200 day moving average price is $255.30. The company has a market cap of $242.94 billion, a price-to-earnings ratio of 44.99, a PEG ratio of 6.01 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, beating analysts' consensus estimates of $2.65 by $0.15. The firm had revenue of $16.98 billion during the quarter, compared to the consensus estimate of $16.58 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The firm's revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.43 earnings per share. Equities research analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were issued a $1.68 dividend. This is a boost from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a yield of 2.57%. International Business Machines's dividend payout ratio (DPR) is 115.66%.

Institutional Trading of International Business Machines

Several large investors have recently bought and sold shares of IBM. Brighton Jones LLC raised its holdings in shares of International Business Machines by 12.4% in the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock worth $4,619,000 after purchasing an additional 2,323 shares during the period. Congress Wealth Management LLC DE boosted its stake in shares of International Business Machines by 10.1% in the fourth quarter. Congress Wealth Management LLC DE now owns 21,730 shares of the technology company's stock valued at $4,777,000 after purchasing an additional 1,987 shares during the period. Modern Wealth Management LLC increased its stake in International Business Machines by 46.1% during the 4th quarter. Modern Wealth Management LLC now owns 14,493 shares of the technology company's stock worth $3,186,000 after buying an additional 4,572 shares during the period. Ashton Thomas Securities LLC increased its position in shares of International Business Machines by 89.6% during the fourth quarter. Ashton Thomas Securities LLC now owns 2,543 shares of the technology company's stock worth $560,000 after acquiring an additional 1,202 shares during the last quarter. Finally, FineMark National Bank & Trust raised its position in shares of International Business Machines by 1.6% in the 4th quarter. FineMark National Bank & Trust now owns 9,269 shares of the technology company's stock valued at $2,038,000 after purchasing an additional 143 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

About International Business Machines

(Get Free Report)

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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