International Business Machines (NYSE:IBM) Stock Price Up 0.1% – Here’s What Happened

International Business Machines Co. (NYSE:IBM) shares were up 0.1% during mid-day trading on Wednesday . The stock traded as high as $211.28 and last traded at $211.11. Approximately 367,562 shares changed hands during trading, a decline of 91% from the average daily volume of 4,215,540 shares. The stock had previously closed at $210.86.

Analyst Ratings Changes

IBM has been the topic of a number of research analyst reports. Jefferies Financial Group boosted their price target on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a report on Thursday, October 24th. Morgan Stanley cut their target price on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Bank of America boosted their price target on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Stifel Nicolaus raised their price objective on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, International Business Machines currently has an average rating of “Hold” and an average price target of $208.12.

International Business Machines Stock Down 0.9 %

The company has a market cap of $193.26 billion, a PE ratio of 30.42, a price-to-earnings-growth ratio of 4.74 and a beta of 0.71. The company has a fifty day moving average of $218.58 and a two-hundred day moving average of $193.11. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business’s revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the business earned $2.20 EPS. As a group, analysts anticipate that International Business Machines Co. will post 10.11 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $1.67 per share. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.20%. International Business Machines’s dividend payout ratio is 97.23%.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.07% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IBM. Ellenbecker Investment Group boosted its position in shares of International Business Machines by 2.3% during the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock worth $453,000 after purchasing an additional 46 shares during the period. Goldstein Advisors LLC lifted its stake in International Business Machines by 4.0% during the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock worth $269,000 after purchasing an additional 47 shares in the last quarter. Vertex Planning Partners LLC boosted its position in shares of International Business Machines by 3.6% during the third quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock worth $298,000 after buying an additional 47 shares during the period. Sollinda Capital Management LLC boosted its position in shares of International Business Machines by 3.7% during the third quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock worth $301,000 after buying an additional 49 shares during the period. Finally, Lansing Street Advisors grew its stake in shares of International Business Machines by 3.4% in the third quarter. Lansing Street Advisors now owns 1,503 shares of the technology company’s stock valued at $332,000 after buying an additional 49 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

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.