International Business Machines (NYSE:IBM) Stock Price Down 0.5%

International Business Machines Co. (NYSE:IBM)’s share price fell 0.5% on Wednesday . The stock traded as low as $174.45 and last traded at $175.59. 487,043 shares traded hands during trading, a decline of 89% from the average session volume of 4,440,476 shares. The stock had previously closed at $176.48.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on IBM shares. Bank of America raised their price objective on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Morgan Stanley cut their price target on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Wedbush boosted their target price on shares of International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of International Business Machines in a research report on Wednesday, May 22nd. Finally, Jefferies Financial Group lowered their price target on International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a report on Tuesday, April 23rd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and an average target price of $182.53.

International Business Machines Price Performance

The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. The firm has a market cap of $163.72 billion, a P/E ratio of 20.19, a PEG ratio of 4.39 and a beta of 0.71. The company has a 50 day moving average of $170.81 and a two-hundred day moving average of $177.30.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the company posted $1.36 EPS. Sell-side analysts expect that International Business Machines Co. will post 9.9 EPS for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were issued a dividend of $1.67 per share. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a dividend yield of 3.75%. The ex-dividend date was Thursday, May 9th. International Business Machines’s payout ratio is currently 75.65%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of IBM. CHICAGO TRUST Co NA lifted its stake in International Business Machines by 17.7% in the second quarter. CHICAGO TRUST Co NA now owns 10,625 shares of the technology company’s stock valued at $1,838,000 after acquiring an additional 1,600 shares during the last quarter. U.S. Capital Wealth Advisors LLC raised its holdings in International Business Machines by 3.9% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 75,069 shares of the technology company’s stock valued at $12,983,000 after buying an additional 2,834 shares in the last quarter. Legal Advantage Investments Inc. boosted its stake in shares of International Business Machines by 3.5% during the 2nd quarter. Legal Advantage Investments Inc. now owns 3,484 shares of the technology company’s stock worth $603,000 after acquiring an additional 118 shares in the last quarter. Jamison Private Wealth Management Inc. raised its stake in shares of International Business Machines by 57.4% in the 2nd quarter. Jamison Private Wealth Management Inc. now owns 1,654 shares of the technology company’s stock valued at $286,000 after acquiring an additional 603 shares in the last quarter. Finally, Clarus Wealth Advisors boosted its position in International Business Machines by 19.2% during the second quarter. Clarus Wealth Advisors now owns 2,037 shares of the technology company’s stock worth $362,000 after purchasing an additional 328 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

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.