International Business Machines (NYSE:IBM) Stock Price Up 0.1% - Here's What Happened

International Business Machines Co. (NYSE:IBM - Get Free Report)'s stock price shot up 0.1% during trading on Thursday . The stock traded as high as $242.24 and last traded at $242.12. 1,166,984 shares were traded during trading, a decline of 72% from the average session volume of 4,194,786 shares. The stock had previously closed at $241.82.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on IBM. Jefferies Financial Group restated a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. raised their target price on International Business Machines from $233.00 to $244.00 and gave the stock a "neutral" rating in a research report on Thursday, January 30th. Oppenheimer assumed coverage on International Business Machines in a research report on Tuesday, February 11th. They issued an "outperform" rating and a $320.00 price target on the stock. Wedbush restated an "outperform" rating and set a $300.00 price objective on shares of International Business Machines in a research report on Thursday, April 24th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of International Business Machines in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $248.50.

International Business Machines Price Performance

The business has a 50 day simple moving average of $242.99 and a 200-day simple moving average of $234.38. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The stock has a market cap of $231.98 billion, a P/E ratio of 38.94, a P/E/G ratio of 5.81 and a beta of 0.64.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating analysts' consensus estimates of $1.42 by $0.18. The company had revenue of $14.54 billion for the quarter, compared to analysts' expectations of $14.41 billion. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. International Business Machines's revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.68 EPS. On average, sell-side analysts forecast that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be given a dividend of $1.68 per share. This is a boost from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.69%. International Business Machines's dividend payout ratio is currently 115.66%.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the sale, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.18% of the company's stock.

Institutional Trading of International Business Machines

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in International Business Machines by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company's stock worth $20,189,023,000 after purchasing an additional 1,539,888 shares during the last quarter. Geode Capital Management LLC increased its stake in International Business Machines by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company's stock worth $4,589,145,000 after purchasing an additional 427,499 shares during the period. Capital World Investors lifted its position in International Business Machines by 413.5% in the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock valued at $2,634,577,000 after purchasing an additional 9,650,534 shares during the last quarter. Northern Trust Corp boosted its stake in shares of International Business Machines by 18.6% during the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock valued at $2,384,275,000 after purchasing an additional 1,704,209 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of International Business Machines by 9.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,112,092 shares of the technology company's stock worth $1,783,281,000 after purchasing an additional 722,582 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

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.