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

International Business Machines Co. (NYSE:IBM - Get Free Report)'s share price shot up 2.2% during 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.

Analysts Set New Price Targets

Several research firms have recently commented on IBM. Jefferies Financial Group restated a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Bank of America upped their price objective on shares of International Business Machines from $270.00 to $290.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Royal Bank of Canada upped their price objective on shares of International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. Finally, BMO Capital Markets reaffirmed a "market perform" rating on shares of International Business Machines in a report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $250.31.

International Business Machines Stock Up 1.6%

The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The company has a market capitalization of $261.77 billion, a price-to-earnings ratio of 43.94, a P/E/G ratio of 5.81 and a beta of 0.66. The stock's fifty day simple moving average is $253.83 and its two-hundred day simple moving average is $244.28.

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, beating analysts' consensus estimates of $1.42 by $0.18. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The company had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. During the same period in the prior year, the firm earned $1.68 earnings per share. The business's quarterly revenue was up .5% on a year-over-year basis. On average, sell-side analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current 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 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 yield of 2.39%. International Business Machines's dividend payout ratio is currently 115.66%.

Institutional Trading of International Business Machines

Hedge funds have recently bought and sold shares of the company. Christopher J. Hasenberg Inc acquired a new position in shares of International Business Machines in the 1st quarter valued at about $27,000. SSA Swiss Advisors AG acquired a new position in shares of International Business Machines in the 1st quarter valued at about $28,000. Vision Financial Markets LLC acquired a new position in shares of International Business Machines in the 4th quarter valued at about $31,000. Dagco Inc. acquired a new position in shares of International Business Machines in the 1st quarter valued at about $31,000. Finally, Silicon Valley Capital Partners increased its holdings in shares of International Business Machines by 322.6% in the 1st quarter. Silicon Valley Capital Partners now owns 131 shares of the technology company's stock valued at $32,000 after purchasing an additional 100 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

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.