International Business Machines (NYSE:IBM) Stock Price Up 1.6% - Should You Buy?

International Business Machines Co. (NYSE:IBM - Get Free Report)'s share price shot up 1.6% during trading on Monday . The company traded as high as $266.45 and last traded at $265.74. 2,495,463 shares traded hands during trading, a decline of 36% from the average session volume of 3,897,224 shares. The stock had previously closed at $261.54.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on IBM. Bank of America lifted their price objective on shares of International Business Machines from $260.00 to $270.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Sanford C. Bernstein upped their price objective on International Business Machines from $210.00 to $215.00 and gave the stock a "market perform" rating in a report on Friday, January 3rd. Morgan Stanley upped their target price on shares of International Business Machines from $217.00 to $228.00 and gave the company an "equal weight" rating in a report on Thursday, January 30th. BMO Capital Markets lifted their target price on shares of International Business Machines from $260.00 to $280.00 and gave the company a "market perform" rating in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. increased their price objective on shares of International Business Machines from $233.00 to $244.00 and gave the company a "neutral" rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $231.44.

International Business Machines Price Performance

The company has a 50 day simple moving average of $243.21 and a 200 day simple moving average of $227.58. The stock has a market cap of $226.67 billion, a P/E ratio of 38.10, a PEG ratio of 5.81 and a beta of 0.74. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. Sell-side analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a $1.67 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.73%. International Business Machines's dividend payout ratio is 104.21%.

Insider Buying and Selling at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the transaction, the senior vice president now owns 45,007 shares in the company, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.07% of the company's stock.

Hedge Funds Weigh In On International Business Machines

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Meeder Asset Management Inc. grew its stake in International Business Machines by 40.9% in the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company's stock worth $126,000 after purchasing an additional 166 shares during the period. Blue Zone Wealth Advisors LLC purchased a new position in shares of International Business Machines during the fourth quarter valued at approximately $242,000. Brady Martz Wealth Solutions LLC bought a new stake in shares of International Business Machines in the 4th quarter worth approximately $1,940,000. Tranquilli Financial Advisor LLC bought a new position in International Business Machines during the 4th quarter valued at approximately $373,000. Finally, Truist Financial Corp boosted its holdings 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 worth $178,296,000 after acquiring an additional 49,591 shares in the last quarter. 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.