International Business Machines (NYSE:IBM) Stock Price Up 0.6% – Time to Buy?

International Business Machines Co. (NYSE:IBM) traded up 0.6% during trading on Tuesday . The stock traded as high as $237.37 and last traded at $236.73. 679,549 shares were traded during trading, a decline of 84% from the average session volume of 4,182,172 shares. The stock had previously closed at $235.26.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Evercore ISI upped their price target on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. The Goldman Sachs Group upped their price target on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Finally, DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $203.06.

International Business Machines Stock Down 0.4 %

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 capitalization of $213.90 billion, a P/E ratio of 26.23, a P/E/G ratio of 5.21 and a beta of 0.70. The company has a 50 day simple moving average of $210.57 and a two-hundred day simple moving average of $188.54.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.27. The business had revenue of $15.77 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.18 EPS. On average, equities analysts predict that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a dividend of $1.67 per share. The ex-dividend date was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.87%. International Business Machines’s dividend payout ratio is currently 75.65%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of IBM. Syon Capital LLC bought a new position in shares of International Business Machines during the 4th quarter valued at approximately $220,000. Massmutual Trust Co. FSB ADV raised its holdings in International Business Machines by 1.7% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 6,580 shares of the technology company’s stock valued at $1,257,000 after buying an additional 109 shares during the period. Foster Group Inc. raised its holdings in International Business Machines by 6.4% during the 1st quarter. Foster Group Inc. now owns 1,863 shares of the technology company’s stock valued at $356,000 after buying an additional 112 shares during the period. Signal Advisors Wealth LLC raised its holdings in International Business Machines by 4.0% during the 1st quarter. Signal Advisors Wealth LLC now owns 2,557 shares of the technology company’s stock valued at $488,000 after buying an additional 99 shares during the period. Finally, Walker Asset Management LLC purchased a new stake in International Business Machines during the 1st quarter valued at $224,000. 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.