International Business Machines (NYSE:IBM) Stock Price Down 1.2% - What's Next?

International Business Machines Corporation (NYSE:IBM - Get Free Report) shares were down 1.2% during mid-day trading on Wednesday . The company traded as low as $287.27 and last traded at $287.67. Approximately 589,880 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 4,206,751 shares. The stock had previously closed at $291.20.

Analyst Ratings Changes

Several research analysts have commented on the company. Wedbush lifted their price target on International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research report on Friday, June 20th. Erste Group Bank raised shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Morgan Stanley reduced their price target on shares of 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. Citigroup restated an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. Finally, Wall Street Zen downgraded International Business Machines from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, International Business Machines has a consensus rating of "Hold" and a consensus price target of $257.50.

International Business Machines Stock Performance

The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97. The stock has a market capitalization of $271.06 billion, a price-to-earnings ratio of 50.20, a price-to-earnings-growth ratio of 6.11 and a beta of 0.69. The stock has a 50-day moving average of $265.93 and a 200 day moving average of $248.79.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate 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 company had revenue of $14.54 billion during the quarter, compared to analysts' expectations of $14.41 billion. During the same quarter in the previous year, the company earned $1.68 EPS. International Business Machines's revenue was up .5% on a year-over-year basis. On average, analysts expect that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.30%. This is a boost from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is currently 115.66%.

Hedge Funds Weigh In On International Business Machines

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Capital World Investors raised its position in shares of International Business Machines by 413.5% during the fourth 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 during the period. Norges Bank acquired a new position in International Business Machines during the fourth quarter worth $1,236,176,000. GAMMA Investing LLC grew its position in International Business Machines by 29,564.2% in the first quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock valued at $10,940,520,000 after purchasing an additional 4,384,958 shares in the last quarter. GQG Partners LLC acquired a new stake in International Business Machines in the 1st quarter valued at $1,040,057,000. Finally, Nuveen LLC bought a new stake in International Business Machines during the 1st quarter worth about $960,386,000. 58.96% of the stock is 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.