International Business Machines (NYSE:IBM) Shares Up 2.2% - Here's What Happened

International Business Machines Corporation (NYSE:IBM - Get Free Report)'s share price shot up 2.2% during mid-day trading on Monday . The stock traded as high as $284.50 and last traded at $283.24. 854,410 shares traded hands during trading, a decline of 80% from the average session volume of 4,224,168 shares. The stock had previously closed at $277.22.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on IBM. Erste Group Bank upgraded shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Wall Street Zen cut shares of International Business Machines from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. 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 report on Wednesday, April 23rd. Finally, Morgan Stanley reduced their price objective on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $252.19.

International Business Machines Stock Performance

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 business's fifty day moving average is $256.81 and its two-hundred day moving average is $245.20. The stock has a market capitalization of $263.16 billion, a PE ratio of 48.74, a price-to-earnings-growth ratio of 5.95 and a beta of 0.66.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.42 by $0.18. The company had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. International Business Machines's quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.68 earnings per share. As a group, research analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.37%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is presently 115.66%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Treasurer of the State of North Carolina boosted its stake in International Business Machines by 0.8% during the fourth quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock worth $108,942,000 after buying an additional 4,131 shares during the period. Mufg Securities Americas Inc. purchased a new stake in shares of International Business Machines during the fourth quarter valued at $3,000,000. Magnolia Private Wealth LLC purchased a new stake in shares of International Business Machines during the first quarter valued at $239,000. QRG Capital Management Inc. boosted its stake in shares of International Business Machines by 7.5% during the fourth quarter. QRG Capital Management Inc. now owns 150,652 shares of the technology company's stock valued at $33,118,000 after purchasing an additional 10,467 shares during the period. Finally, Ferguson Wellman Capital Management Inc. boosted its stake in shares of International Business Machines by 0.8% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 141,448 shares of the technology company's stock valued at $35,172,000 after purchasing an additional 1,058 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Company Profile

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.