International Business Machines (NYSE:IBM) Trading Down 2.2% – What’s Next?

International Business Machines Co. (NYSE:IBM)’s stock price fell 2.2% during trading on Wednesday . The stock traded as low as $247.17 and last traded at $247.66. Approximately 800,074 shares were traded during trading, a decline of 80% from the average session volume of 3,904,895 shares. The stock had previously closed at $253.21.

Analysts Set New Price Targets

Several brokerages recently weighed in on IBM. Bank of America raised their price target on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. raised their target price on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. BMO Capital Markets upped their price target on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. Sanford C. Bernstein raised their price objective on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a report on Monday, January 27th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and an average price target of $231.44.

International Business Machines Trading Down 0.7 %

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 firm has a 50 day moving average of $239.50 and a 200 day moving average of $225.40. The firm has a market cap of $233.06 billion, a PE ratio of 39.20, a P/E/G ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. Equities analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s payout ratio is currently 104.21%.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of International Business Machines 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 completion of the transaction, the senior vice president now owns 45,007 shares of the company’s stock, valued at $11,387,221.07. The trade was a 37.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is owned by company insiders.

Hedge Funds Weigh In On International Business Machines

Large investors have recently modified their holdings of the company. Castle Rock Wealth Management LLC increased its holdings in shares of International Business Machines by 6.5% in the fourth quarter. Castle Rock Wealth Management LLC now owns 13,775 shares of the technology company’s stock worth $3,028,000 after purchasing an additional 841 shares during the period. Smith Shellnut Wilson LLC ADV grew its holdings in shares of International Business Machines by 7.8% during the fourth quarter. Smith Shellnut Wilson LLC ADV now owns 2,725 shares of the technology company’s stock worth $599,000 after purchasing an additional 197 shares in the last quarter. BridgePort Financial Solutions LLC bought a new position in shares of International Business Machines in the fourth quarter worth approximately $374,000. Park Square Financial Group LLC purchased a new stake in International Business Machines in the fourth quarter valued at approximately $43,000. Finally, Total Wealth Planning & Management Inc. purchased a new stake in International Business Machines in the fourth quarter valued at approximately $248,000. 58.96% of the stock is currently owned by 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.