International Business Machines (NYSE:IBM) Trading Down 1.2% – Time to Sell?

International Business Machines Co. (NYSE:IBM)’s stock price was down 1.2% on Wednesday . The company traded as low as $207.73 and last traded at $207.81. Approximately 1,181,930 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 4,239,710 shares. The stock had previously closed at $210.43.

Analyst Ratings Changes

IBM has been the topic of a number of recent research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a report on Thursday, October 24th. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Bernstein Bank boosted their price objective on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. UBS Group raised their price target on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. Finally, Jefferies Financial Group lifted their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and an average price target of $208.12.

International Business Machines Stock Performance

The stock’s 50 day moving average price is $216.23 and its 200 day moving average price is $190.85. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The firm has a market cap of $188.66 billion, a PE ratio of 23.53, a P/E/G ratio of 4.84 and a beta of 0.70.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter last year, the company posted $2.20 earnings per share. International Business Machines’s revenue was up 1.5% on a year-over-year basis. As a group, equities analysts forecast that International Business Machines Co. will post 10.13 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be issued a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.25%. International Business Machines’s payout ratio is 75.65%.

Hedge Funds Weigh In On International Business Machines

Hedge funds have recently modified their holdings of the stock. FPC Investment Advisory Inc. acquired a new stake in shares of International Business Machines in the first quarter valued at about $26,000. ESL Trust Services LLC acquired a new stake in shares of International Business Machines in the 1st quarter valued at approximately $28,000. Hazlett Burt & Watson Inc. increased its holdings in shares of International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after acquiring an additional 116 shares in the last quarter. Oliver Lagore Vanvalin Investment Group bought a new position in International Business Machines during the 2nd quarter worth about $36,000. Finally, Wolff Wiese Magana LLC lifted its position in shares of International Business Machines by 37.0% in the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after purchasing an additional 60 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

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.