Shares of International Business Machines Co. (NYSE:IBM - Get Free Report) dropped 0.6% on Thursday . The stock traded as low as $162.62 and last traded at $163.44. Approximately 993,653 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 4,962,340 shares. The stock had previously closed at $164.43.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the stock. Sanford C. Bernstein upped their price target on shares of International Business Machines from $165.00 to $186.00 and gave the company a "market perform" rating in a report on Thursday, March 7th. UBS Group lifted their price target on International Business Machines from $125.00 to $130.00 and gave the stock a "sell" rating in a research report on Monday, April 22nd. Royal Bank of Canada lifted their target price on International Business Machines from $179.00 to $200.00 and gave the stock an "outperform" rating in a report on Thursday, January 25th. Bank of America upped their price objective on International Business Machines from $200.00 to $220.00 and gave the company a "buy" rating in a research report on Thursday, March 14th. Finally, BMO Capital Markets lowered 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 report on Thursday, April 25th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $181.29.
Read Our Latest Stock Analysis on International Business Machines
International Business Machines Stock Performance
The firm has a market cap of $151.01 billion, a PE ratio of 18.66, a PEG ratio of 4.08 and a beta of 0.74. The firm's 50 day simple moving average is $186.15 and its 200 day simple moving average is $170.82. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32.
International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The business had revenue of $14.46 billion during the quarter, compared to analysts' expectations of $14.53 billion. During the same quarter last year, the business posted $1.36 EPS. The firm's revenue for the quarter was up 1.5% compared to the same quarter last year. On average, research analysts forecast that International Business Machines Co. will post 9.94 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 given a dividend of $1.67 per share. The ex-dividend date is Thursday, May 9th. This is an increase from International Business Machines's previous quarterly dividend of $1.66. This represents a $6.68 dividend on an annualized basis and a yield of 4.06%. International Business Machines's dividend payout ratio is 75.20%.
Institutional Investors Weigh In On International Business Machines
Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in International Business Machines in the fourth quarter worth $1,019,009,000. International Assets Investment Management LLC raised its holdings in shares of 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 valued at $433,974,000 after acquiring an additional 2,636,386 shares in the last quarter. Morgan Stanley lifted its position in shares of International Business Machines by 13.4% in 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. Capital Wealth Planning LLC purchased a new stake in International Business Machines during the fourth quarter worth $172,887,000. Finally, California Public Employees Retirement System boosted its position in International Business Machines by 15.9% during the third quarter. California Public Employees Retirement System now owns 6,345,842 shares of the technology company's stock valued at $890,322,000 after purchasing an additional 871,247 shares in the last quarter. Hedge funds and other institutional investors 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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