International Business Machines (NYSE:IBM) Stock Price Up 1.1% - Here's Why

International Business Machines Co. (NYSE:IBM - Get Free Report)'s share price rose 1.1% on Monday . The company traded as high as $252.50 and last traded at $251.83. Approximately 1,785,647 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 4,199,115 shares. The stock had previously closed at $249.20.

Wall Street Analyst Weigh In

IBM has been the subject of a number of research reports. Wedbush reissued an "outperform" rating and issued a $300.00 price target on shares of International Business Machines in a report on Wednesday, May 7th. BMO Capital Markets reissued a "market perform" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Royal Bank of Canada reissued an "outperform" rating and issued a $276.00 price target on shares of International Business Machines in a report on Monday, April 14th. Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, UBS Group reissued a "sell" rating and set a $170.00 price target (up from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. One investment 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's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $248.50.

International Business Machines Stock Up 1.8%

The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The company has a market capitalization of $235.82 billion, a price-to-earnings ratio of 39.58, a PEG ratio of 5.81 and a beta of 0.64. The firm has a 50-day moving average price of $243.01 and a two-hundred day moving average price of $234.91.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.18. The company had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. International Business Machines's revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.68 EPS. As a group, sell-side analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.65%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is currently 115.66%.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the business's 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 sale, the senior vice president now owns 45,007 shares of the company's stock, valued at approximately $11,387,221.07. The trade was a 37.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.18% of the company's stock.

Hedge Funds Weigh In On International Business Machines

A number of hedge funds have recently bought and sold shares of the company. Treasurer of the State of North Carolina lifted its stake in International Business Machines by 0.8% in the fourth quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock valued at $108,942,000 after buying an additional 4,131 shares during the period. Blue Zone Wealth Advisors LLC acquired a new position in International Business Machines in the fourth quarter valued at approximately $242,000. Brady Martz Wealth Solutions LLC acquired a new position in International Business Machines in the fourth quarter valued at approximately $1,940,000. Tranquilli Financial Advisor LLC bought a new position in International Business Machines in the fourth quarter worth approximately $373,000. Finally, Truist Financial Corp grew its stake in International Business Machines by 6.5% in the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company's stock valued at $178,296,000 after acquiring an additional 49,591 shares during the period. 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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