International Business Machines (NYSE:IBM) Trading Up 0.6% – Here’s Why

International Business Machines Co. (NYSE:IBM) shares were up 0.6% on Monday . The stock traded as high as $258.94 and last traded at $257.17. Approximately 1,735,796 shares traded hands during trading, a decline of 61% from the average daily volume of 4,464,147 shares. The stock had previously closed at $255.70.

Analyst Ratings Changes

IBM has been the topic of several recent research reports. UBS Group raised their price target on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a report on Tuesday, January 14th. BMO Capital Markets upped their price target on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research report on Thursday. JPMorgan Chase & Co. raised their price target on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday. Morgan Stanley increased their price objective on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Wedbush initiated coverage on International Business Machines in a research note on Monday. They set an “outperform” rating on the stock. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $225.53.

International Business Machines Stock Up 2.0 %

The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The company has a market capitalization of $241.18 billion, a price-to-earnings ratio of 40.69, a price-to-earnings-growth ratio of 5.63 and a beta of 0.74. The business has a 50-day moving average price of $226.61 and a 200-day moving average price of $214.76.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. As a group, equities analysts anticipate that International Business Machines Co. will post 10.73 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be issued a dividend of $1.67 per share. The ex-dividend date is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.56%. International Business Machines’s dividend payout ratio is 104.21%.

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the sale, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. The trade was a 12.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.07% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On International Business Machines

Several hedge funds have recently bought and sold shares of IBM. Compass Financial Services Inc bought a new position in shares of International Business Machines in the fourth quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. increased its stake 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 purchasing an additional 116 shares during the period. Hara Capital LLC acquired a new position in shares of International Business Machines during the 3rd quarter worth about $29,000. Avondale Wealth Management grew its holdings in International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after buying an additional 56 shares during the last quarter. Finally, Valued Wealth Advisors LLC increased its position in International Business Machines by 134.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after buying an additional 90 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

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.