International Business Machines (NYSE:IBM) Trading 1.7% Higher on Analyst Upgrade

Shares of International Business Machines Corporation (NYSE:IBM - Get Free Report) shot up 1.7% on Monday after Wedbush raised their price target on the stock from $300.00 to $325.00. Wedbush currently has an outperform rating on the stock. International Business Machines traded as high as $286.22 and last traded at $285.85. 572,317 shares changed hands during trading, a decline of 86% from the average session volume of 4,208,957 shares. The stock had previously closed at $280.97.

Several other equities research analysts also recently issued reports on the stock. Bank of America boosted their price objective on shares of International Business Machines from $290.00 to $320.00 and gave the stock a "buy" rating in a research note on Wednesday, June 18th. Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. UBS Group reaffirmed a "sell" rating and issued a $170.00 target price (up previously from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. Finally, Erste Group Bank upgraded International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, International Business Machines presently has an average rating of "Hold" and an average target price of $253.75.

Institutional Investors Weigh In On International Business Machines

Several institutional investors and hedge funds have recently made changes to their positions in the company. Christopher J. Hasenberg Inc bought a new position in shares of International Business Machines in the 1st quarter worth about $27,000. SSA Swiss Advisors AG acquired a new stake in shares of International Business Machines during the 1st quarter worth approximately $28,000. Vision Financial Markets LLC bought a new stake in shares of International Business Machines in the 4th quarter worth approximately $31,000. Dagco Inc. bought a new position in International Business Machines during the 1st quarter worth $31,000. Finally, Silicon Valley Capital Partners increased its position in International Business Machines by 322.6% in the first quarter. Silicon Valley Capital Partners now owns 131 shares of the technology company's stock worth $32,000 after buying an additional 100 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Price Performance

The company has a market capitalization of $265.70 billion, a P/E ratio of 49.20, a PEG ratio of 5.90 and a beta of 0.66. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. The business has a 50 day simple moving average of $257.71 and a 200-day simple moving average of $245.71.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating analysts' consensus estimates of $1.42 by $0.18. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The business had revenue of $14.54 billion for the quarter, compared to analysts' expectations of $14.41 billion. During the same period in the previous year, the business earned $1.68 earnings per share. The company's revenue was up .5% on a year-over-year basis. Analysts predict that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a dividend of $1.68 per share. This is a positive change 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 2.35%. International Business Machines's dividend payout ratio (DPR) is presently 115.66%.

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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