International Business Machines (NYSE:IBM) Trading 0.2% Higher - Still a Buy?

Shares of International Business Machines Co. (NYSE:IBM - Get Free Report) were up 0.2% during mid-day trading on Thursday . The company traded as high as $256.52 and last traded at $253.79. Approximately 718,678 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 4,191,943 shares. The stock had previously closed at $253.37.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on IBM shares. UBS Group reaffirmed a "sell" rating and issued a $170.00 price objective (up previously from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Bank of America increased their price objective on shares of International Business Machines from $260.00 to $270.00 and gave the company a "buy" rating in a report on Thursday, January 30th. The Goldman Sachs Group reissued a "buy" rating on shares of International Business Machines in a research note on Wednesday, February 5th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $276.00 target price on shares of International Business Machines in a research note on Monday, April 14th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $248.50.

International Business Machines Stock Up 0.3 %

The stock has a market cap of $236.29 billion, a P/E ratio of 39.66, a PEG ratio of 5.81 and a beta of 0.64. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The company's 50 day moving average price is $243.00 and its two-hundred day moving average price is $234.51.

International Business Machines (NYSE:IBM - Get Free Report) last announced its earnings results 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. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The firm had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. During the same period in the previous year, the business earned $1.68 EPS. The firm's revenue for the quarter was up .5% on a year-over-year basis. Equities analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be given a dividend of $1.68 per share. 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 2.64%. International Business Machines's dividend payout ratio is currently 115.66%.

Insiders Place Their Bets

In other news, SVP Robert David Thomas sold 26,543 shares of the firm's stock in a transaction 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 sale, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.18% of the company's stock.

Hedge Funds Weigh In On International Business Machines

Hedge funds have recently modified their holdings of the business. Treasurer of the State of North Carolina increased its holdings 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 in the last quarter. Blue Zone Wealth Advisors LLC purchased a new stake in International Business Machines during the 4th quarter worth $242,000. Brady Martz Wealth Solutions LLC purchased a new position in shares of International Business Machines during the 4th quarter valued at approximately $1,940,000. Tranquilli Financial Advisor LLC bought a new position in International Business Machines during the 4th quarter worth approximately $373,000. Finally, Truist Financial Corp lifted its position in shares of International Business Machines by 6.5% in the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company's stock worth $178,296,000 after buying an additional 49,591 shares during the last quarter. 58.96% of the stock is currently 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.

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