International Business Machines (NYSE:IBM) Trading 1.5% Higher - Here's What Happened

Key Points

• IBM's Stock Performance: Shares of International Business Machines rose by 1.5%, reaching a high of $286.59 before settling at $286.46, with a trading volume that declined 8% from the average.
• Analysts' Price Target Changes: Several analysts revised their price targets for IBM, with Wedbush raising it to $325 and Goldman Sachs to $310, reflecting positive sentiment around the stock.
• Quarterly Earnings Beat: IBM reported earnings per share of $2.80 for the last quarter, exceeding expectations of $2.65, along with a revenue increase of 7.7% year-over-year to $16.98 billion.

International Business Machines Corporation (NYSE:IBM - Get Free Report) shares traded up 1.5% on Wednesday . The stock traded as high as $286.59 and last traded at $286.46. 4,375,251 shares traded hands during mid-day trading, a decline of 8% from the average session volume of 4,749,414 shares. The stock had previously closed at $282.16.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Wedbush increased their target price on shares of International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a research note on Friday, June 20th. The Goldman Sachs Group boosted their price objective 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. Melius Research upgraded shares of International Business Machines to a "strong-buy" rating in a research note on Monday, July 7th. 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 note on Thursday, July 24th. Finally, Stifel Nicolaus upped their target price on shares of International Business Machines from $290.00 to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $275.00.

International Business Machines Stock Up 1.5%

The firm has a market capitalization of $266.23 billion, a P/E ratio of 46.50, a PEG ratio of 4.31 and a beta of 0.71. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. The business's fifty day moving average price is $253.98 and its two-hundred day moving average price is $258.50.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, beating analysts' consensus estimates of $2.65 by $0.15. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The business had revenue of $16.98 billion for the quarter, compared to analysts' expectations of $16.58 billion. During the same period last year, the business earned $2.43 EPS. The company's revenue was up 7.7% compared to the same quarter last year. International Business Machines has set its FY 2025 guidance at EPS. Equities analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were issued a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Friday, August 8th. International Business Machines's dividend payout ratio (DPR) is currently 109.09%.

Institutional Trading of International Business Machines

A number of institutional investors have recently modified their holdings of the company. MinichMacGregor Wealth Management LLC acquired a new stake in International Business Machines in the 1st quarter worth approximately $396,000. Brooklyn Investment Group boosted its stake in International Business Machines by 32.7% in the 1st quarter. Brooklyn Investment Group now owns 6,622 shares of the technology company's stock worth $1,647,000 after purchasing an additional 1,630 shares in the last quarter. Edgar Lomax Co. VA boosted its stake in International Business Machines by 5.7% in the 1st quarter. Edgar Lomax Co. VA now owns 235,967 shares of the technology company's stock worth $58,676,000 after purchasing an additional 12,690 shares in the last quarter. Left Brain Wealth Management LLC boosted its stake in International Business Machines by 1,547.8% in the 1st quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company's stock worth $4,392,000 after purchasing an additional 16,592 shares in the last quarter. Finally, Alpha Cubed Investments LLC boosted its stake in International Business Machines by 47.0% in the 1st quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company's stock worth $1,867,000 after purchasing an additional 2,399 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Company Profile

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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