International Business Machines (NYSE:IBM) Reaches New 12-Month High at $218.84

Shares of International Business Machines Co. (NYSE:IBM) reached a new 52-week high on Tuesday . The stock traded as high as $218.84 and last traded at $215.90, with a volume of 570371 shares trading hands. The stock had previously closed at $217.16.

Analyst Ratings Changes

Several research analysts have issued reports on IBM shares. Royal Bank of Canada increased their target price on shares of International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Jefferies Financial Group lifted their price objective on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Evercore ISI upped their target price on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Finally, BMO Capital Markets upped their price objective on International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $188.60.

International Business Machines Price Performance

The stock’s 50 day simple moving average is $193.62 and its 200-day simple moving average is $183.60. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The firm has a market cap of $196.80 billion, a price-to-earnings ratio of 24.33, a price-to-earnings-growth ratio of 4.67 and a beta of 0.70.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. The company had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the business posted $2.18 EPS. Equities research analysts anticipate that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a $1.67 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 3.12%. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Institutional Trading of International Business Machines

Several institutional investors and hedge funds have recently bought and sold shares of IBM. FPC Investment Advisory Inc. purchased a new stake in International Business Machines in the first quarter valued at $26,000. ESL Trust Services LLC purchased a new stake in shares of International Business Machines in the first quarter worth about $28,000. Creekmur Asset Management LLC acquired a new stake in International Business Machines during the fourth quarter worth about $29,000. Ables Iannone Moore & Associates Inc. purchased a new position in International Business Machines during the fourth quarter valued at approximately $31,000. Finally, Oliver Lagore Vanvalin Investment Group purchased a new stake in International Business Machines in the 2nd quarter worth approximately $36,000. 58.96% of the stock is currently 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.