International Business Machines (NYSE:IBM) Shares Up 2.6% – Here’s Why

International Business Machines Co. (NYSE:IBM) shares rose 2.6% during trading on Tuesday . The company traded as high as $255.04 and last traded at $255.82. Approximately 1,231,314 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 4,705,056 shares. The stock had previously closed at $249.27.

Analysts Set New Price Targets

A number of brokerages have weighed in on IBM. Wedbush began coverage on shares of International Business Machines in a report on Monday, February 3rd. They issued an “outperform” rating for the company. Bank of America increased their price objective on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research report on Monday, January 27th. Stifel Nicolaus lifted their price target on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Sanford C. Bernstein upped their price objective on shares of 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. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, International Business Machines presently has an average rating of “Hold” and a consensus price target of $231.44.

International Business Machines Stock Performance

The stock has a market cap of $235.67 billion, a P/E ratio of 39.70, a PEG ratio of 5.57 and a beta of 0.76. 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 stock has a fifty day simple moving average of $230.19 and a 200-day simple moving average of $217.78.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping the consensus estimate 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 expect that International Business Machines Co. will post 10.75 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Retirement Planning Group LLC acquired a new position in International Business Machines during the 3rd quarter worth approximately $618,000. CVA Family Office LLC lifted its stake in shares of International Business Machines by 4.5% in the 3rd quarter. CVA Family Office LLC now owns 1,876 shares of the technology company’s stock valued at $415,000 after acquiring an additional 80 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its holdings in shares of International Business Machines by 29.8% during the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 1,223 shares of the technology company’s stock valued at $270,000 after acquiring an additional 281 shares in the last quarter. Redhawk Wealth Advisors Inc. bought a new stake in International Business Machines during the 3rd quarter worth $218,000. Finally, Thomasville National Bank increased its holdings in International Business Machines by 24.5% in the 3rd quarter. Thomasville National Bank now owns 3,825 shares of the technology company’s stock worth $846,000 after purchasing an additional 752 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

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.