International Business Machines (NYSE:IBM) Shares Up 0.8%

International Business Machines Co. (NYSE:IBM - Get Free Report)'s share price was up 0.8% on Thursday . The stock traded as high as $169.58 and last traded at $169.58. Approximately 645,344 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 4,796,040 shares. The stock had previously closed at $168.26.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Evercore ISI raised International Business Machines from an "in-line" rating to an "outperform" rating and upped their price target for the company from $165.00 to $200.00 in a research note on Friday, January 19th. BNP Paribas initiated coverage on International Business Machines in a research note on Thursday, May 2nd. They issued an "underperform" rating and a $145.00 price objective for the company. BMO Capital Markets decreased their target price on International Business Machines from $210.00 to $190.00 and set a "market perform" rating on the stock in a research note on Thursday, April 25th. Jefferies Financial Group dropped their target price on International Business Machines from $215.00 to $210.00 and set a "hold" rating for the company in a research report on Tuesday, April 23rd. Finally, Evercore raised shares of International Business Machines from an "in-line" rating to an "outperform" rating and increased their price target for the stock from $165.00 to $200.00 in a research report on Friday, January 19th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $181.29.

International Business Machines Stock Up 0.4 %

The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32. The business has a 50 day moving average of $182.45 and a 200-day moving average of $172.84. The stock has a market cap of $155.22 billion, a PE ratio of 19.14, a P/E/G ratio of 4.12 and a beta of 0.74.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.59 by $0.09. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. International Business Machines's revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.36 EPS. Equities research analysts predict that International Business Machines Co. will post 9.92 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be paid a dividend of $1.67 per share. The ex-dividend date of this dividend is Thursday, May 9th. This is an increase from International Business Machines's previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a yield of 3.95%. International Business Machines's dividend payout ratio is currently 75.65%.

Hedge Funds Weigh In On International Business Machines

Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new position in International Business Machines during the 4th quarter worth approximately $1,019,009,000. Vanguard Group Inc. raised its position in International Business Machines by 6.7% in the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company's stock worth $16,833,642,000 after acquiring an additional 5,546,855 shares in the last quarter. International Assets Investment Management LLC raised its position in International Business Machines by 15,439.1% in the fourth quarter. International Assets Investment Management LLC now owns 2,653,462 shares of the technology company's stock worth $433,974,000 after acquiring an additional 2,636,386 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of International Business Machines by 151.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company's stock worth $671,352,000 after purchasing an additional 2,118,165 shares in the last quarter. Finally, Morgan Stanley grew its stake in shares of International Business Machines by 13.4% during the 3rd quarter. Morgan Stanley now owns 16,257,789 shares of the technology company's stock worth $2,280,968,000 after purchasing an additional 1,919,490 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

About International Business Machines

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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