International Business Machines Corporation (NYSE:IBM - Get Free Report) shares dropped 1.1% during mid-day trading on Tuesday . The company traded as low as $233.44 and last traded at $233.76. Approximately 2,875,735 shares were traded during mid-day trading, a decline of 39% from the average daily volume of 4,734,219 shares. The stock had previously closed at $236.30.
Wall Street Analyst Weigh In
Several brokerages have weighed in on IBM. Morgan Stanley dropped their price objective on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Wall Street Zen raised shares of International Business Machines from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. UBS Group upped their price objective on shares of International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a research note on Thursday, July 24th. KGI Securities set a $242.00 price target on International Business Machines and gave the company a "hold" rating in a research report on Thursday, April 24th. Finally, Wedbush boosted their target price on shares of International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a report on Friday, June 20th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $268.75.
Check Out Our Latest Research Report on International Business Machines
International Business Machines Stock Performance
The firm has a fifty day moving average of $275.58 and a 200-day moving average of $258.56. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. The stock has a market capitalization of $217.90 billion, a price-to-earnings ratio of 38.09, a PEG ratio of 3.74 and a beta of 0.69.
International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.15. The firm had revenue of $16.98 billion during the quarter, compared to the consensus estimate of $16.58 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%. The company's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.43 EPS. As a group, sell-side analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current year.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the company. Capital World Investors grew its position in International Business Machines by 413.5% during the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock worth $2,634,577,000 after purchasing an additional 9,650,534 shares in the last quarter. GAMMA Investing LLC grew its holdings in International Business Machines by 29,564.2% in the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock valued at $10,940,520,000 after buying an additional 4,384,958 shares during the last quarter. GQG Partners LLC bought a new position in International Business Machines during the first quarter worth $1,040,057,000. Nuveen LLC bought a new stake in shares of International Business Machines in the first quarter valued at about $960,386,000. Finally, Vanguard Group Inc. increased its position in shares of International Business Machines by 2.1% during the second quarter. Vanguard Group Inc. now owns 95,051,475 shares of the technology company's stock valued at $28,019,274,000 after purchasing an additional 1,913,708 shares during the period. Institutional investors and hedge funds 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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