International Business Machines Corporation (NYSE:IBM - Get Free Report)'s share price rose 1.1% during mid-day trading on Wednesday . The company traded as high as $245.19 and last traded at $245.33. Approximately 1,028,684 shares were traded during trading, a decline of 78% from the average daily volume of 4,700,114 shares. The stock had previously closed at $242.63.
Wall Street Analysts Forecast Growth
IBM has been the topic of a number of research reports. Bank of America dropped their target price on shares of International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a research report on Thursday, July 24th. Melius Research upgraded shares of International Business Machines to a "strong-buy" rating in a research report on Monday, July 7th. UBS Group boosted their target price on shares of International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a research report on Thursday, July 24th. The Goldman Sachs Group boosted their target price on shares of International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Finally, Wall Street Zen upgraded shares of International Business Machines from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, International Business Machines has an average rating of "Hold" and an average price target of $268.75.
Get Our Latest Stock Report on International Business Machines
International Business Machines Stock Performance
The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. The company's fifty day simple moving average is $267.96 and its two-hundred day simple moving average is $257.81. The stock has a market cap of $228.07 billion, a price-to-earnings ratio of 39.85, a P/E/G ratio of 3.69 and a beta of 0.69.
International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.65 by $0.15. The firm had revenue of $16.98 billion for the quarter, compared to the consensus estimate of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The business's revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.43 earnings per share. International Business Machines has set its FY 2025 guidance at EPS. On average, analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current year.
International Business Machines Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th will be issued a $1.68 dividend. The ex-dividend date is Friday, August 8th. This represents a $6.72 annualized dividend and a dividend yield of 2.7%. International Business Machines's dividend payout ratio is currently 109.09%.
Institutional Trading of International Business Machines
Institutional investors and hedge funds have recently made changes to their positions in the company. MinichMacGregor Wealth Management LLC purchased a new stake in shares of International Business Machines in the first quarter valued at about $396,000. Brooklyn Investment Group grew its position in International Business Machines by 32.7% during the first quarter. Brooklyn Investment Group now owns 6,622 shares of the technology company's stock valued at $1,647,000 after buying an additional 1,630 shares during the period. Edgar Lomax Co. VA grew its position in International Business Machines by 5.7% during the first quarter. Edgar Lomax Co. VA now owns 235,967 shares of the technology company's stock valued at $58,676,000 after buying an additional 12,690 shares during the period. Left Brain Wealth Management LLC grew its position in International Business Machines by 1,547.8% during the first quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company's stock valued at $4,392,000 after buying an additional 16,592 shares during the period. Finally, Alpha Cubed Investments LLC grew its position in International Business Machines by 47.0% during the first quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company's stock valued at $1,867,000 after buying an additional 2,399 shares during the period. Hedge funds and other institutional investors own 58.96% of the company's stock.
About International Business Machines
(
Get Free Report)
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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