International Business Machines (NYSE:IBM) Stock Price Down 0.8% – Time to Sell?

Shares of International Business Machines Co. (NYSE:IBM) were down 0.8% on Thursday . The stock traded as low as $224.27 and last traded at $226.92. Approximately 2,995,121 shares traded hands during mid-day trading, a decline of 29% from the average daily volume of 4,246,416 shares. The stock had previously closed at $228.83.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research report on Thursday, October 24th. Jefferies Financial Group lifted their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. UBS Group increased their target price on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. Bank of America lifted their price target on 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, DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a research report on Wednesday, October 2nd. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $208.12.

International Business Machines Price Performance

The firm has a 50 day moving average price of $220.17 and a 200 day moving average price of $196.64. The stock has a market capitalization of $209.82 billion, a PE ratio of 33.03, a price-to-earnings-growth ratio of 5.08 and a beta of 0.71. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same quarter in the previous year, the company posted $2.20 earnings per share. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. Research analysts anticipate that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On International Business Machines

Hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. grew its holdings in International Business Machines by 22.9% during the 3rd quarter. Franklin Resources Inc. now owns 1,622,432 shares of the technology company’s stock valued at $381,683,000 after buying an additional 302,675 shares in the last quarter. Optimist Retirement Group LLC grew its stake in International Business Machines by 0.6% during the third quarter. Optimist Retirement Group LLC now owns 12,125 shares of the technology company’s stock valued at $2,681,000 after acquiring an additional 72 shares in the last quarter. Blankinship & Foster LLC increased its holdings in International Business Machines by 5,903.1% in the 3rd quarter. Blankinship & Foster LLC now owns 77,980 shares of the technology company’s stock valued at $17,240,000 after acquiring an additional 76,681 shares during the last quarter. Destination Wealth Management lifted its stake in International Business Machines by 10.7% in the 3rd quarter. Destination Wealth Management now owns 2,299 shares of the technology company’s stock worth $508,000 after purchasing an additional 222 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its holdings in shares of International Business Machines by 333.4% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 92,363 shares of the technology company’s stock valued at $20,420,000 after purchasing an additional 71,051 shares during 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.