International Business Machines (NYSE:IBM) Shares Up 0.5% – Here’s What Happened

International Business Machines Co. (NYSE:IBM)’s share price rose 0.5% during mid-day trading on Tuesday . The stock traded as high as $253.00 and last traded at $251.44. Approximately 1,481,170 shares changed hands during trading, a decline of 62% from the average daily volume of 3,919,567 shares. The stock had previously closed at $250.19.

Analysts Set New Price Targets

A number of equities analysts have commented on IBM shares. Sanford C. Bernstein boosted their price target on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Morgan Stanley boosted their price target on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research note on Monday, January 27th. Jefferies Financial Group boosted their target price on International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, BMO Capital Markets raised their price target on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $231.44.

International Business Machines Trading Up 1.1 %

The stock’s 50 day moving average is $238.93 and its 200-day moving average is $224.98. The company has a market capitalization of $234.66 billion, a P/E ratio of 39.48, a P/E/G ratio of 5.81 and a beta of 0.76. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS 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%. As a group, equities research analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be issued a dividend of $1.67 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.64%. International Business Machines’s payout ratio is 104.21%.

Insiders Place Their Bets

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the sale, the senior vice president now owns 45,007 shares in the company, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.07% of the company’s stock.

Hedge Funds Weigh In On International Business Machines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Compass Financial Services Inc purchased a new position in International Business Machines during the 4th quarter valued at $26,000. Hazlett Burt & Watson Inc. lifted its holdings in shares of International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after purchasing an additional 116 shares during the last quarter. Hara Capital LLC purchased a new stake in shares of International Business Machines during the third quarter worth about $29,000. Vision Financial Markets LLC acquired a new position in International Business Machines during the 4th quarter valued at approximately $31,000. Finally, Avondale Wealth Management increased its position in shares of International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after acquiring an additional 56 shares during the period. 58.96% of the stock is 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.