International Business Machines (NYSE:IBM) Trading Down 0.6% – What’s Next?

International Business Machines Co. (NYSE:IBM) shares fell 0.6% during trading on Friday . The stock traded as low as $230.52 and last traded at $231.51. 791,457 shares were traded during mid-day trading, a decline of 81% from the average session volume of 4,176,244 shares. The stock had previously closed at $232.88.

Wall Street Analyst Weigh In

IBM has been the topic of a number of recent research reports. DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a report on Wednesday, October 2nd. Morgan Stanley raised their price objective on shares of International Business Machines from $182.00 to $217.00 and gave the stock an “equal weight” rating in a report on Thursday. Royal Bank of Canada upped their target price on shares of International Business Machines from $211.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Bank of America lifted 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, 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 equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $203.06.

International Business Machines Price Performance

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 company has a market cap of $213.30 billion, a P/E ratio of 26.30, a P/E/G ratio of 5.21 and a beta of 0.70. The firm has a 50 day moving average of $212.19 and a 200-day moving average of $189.15.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping the consensus estimate of $2.16 by $0.27. The firm had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.18 earnings per share. On average, equities research analysts predict that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently disclosed 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 2.88%. International Business Machines’s payout ratio is 75.65%.

Institutional Investors Weigh In On International Business Machines

A number of hedge funds have recently made changes to their positions in IBM. Susquehanna Fundamental Investments LLC purchased a new stake in shares of International Business Machines during the 2nd quarter worth approximately $7,160,000. Hodges Capital Management Inc. increased its position in International Business Machines by 60.8% in the first quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock worth $3,921,000 after purchasing an additional 7,768 shares during the last quarter. Burns J W & Co. Inc. NY raised its stake in International Business Machines by 10.8% during the first quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock valued at $491,000 after purchasing an additional 250 shares in the last quarter. Smith Thornton Advisors LLC bought a new position in International Business Machines during the second quarter valued at $702,000. Finally, Retirement Planning Group LLC purchased a new position in shares of International Business Machines in the 3rd quarter worth $618,000. 58.96% of the stock is currently owned by hedge funds and other 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.