International Business Machines (NYSE:IBM) Sets New 12-Month High at $199.40

International Business Machines Co. (NYSE:IBM)’s share price hit a new 52-week high on Wednesday . The company traded as high as $199.40 and last traded at $198.73, with a volume of 2616812 shares. The stock had previously closed at $197.98.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Jefferies Financial Group increased their price target on International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, July 25th. BNP Paribas began coverage on International Business Machines in a research note on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 target price for the company. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Stifel Nicolaus increased their price objective on shares of International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, BMO Capital Markets boosted their target price on shares of International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $184.93.

International Business Machines Stock Performance

The company has a fifty day moving average of $184.36 and a two-hundred day moving average of $181.51. The stock has a market capitalization of $182.55 billion, a P/E ratio of 22.51, a price-to-earnings-growth ratio of 4.24 and a beta of 0.71. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. The business had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.18 EPS. On average, equities analysts anticipate that International Business Machines Co. will post 10.06 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be issued a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.36%. The ex-dividend date is Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Institutional Investors Weigh In On International Business Machines

Several institutional investors and hedge funds have recently bought and sold shares of IBM. FPC Investment Advisory Inc. acquired a new stake in shares of International Business Machines during the 1st quarter worth approximately $26,000. ESL Trust Services LLC acquired a new position in International Business Machines during the 1st quarter valued at approximately $28,000. Creekmur Asset Management LLC bought a new position in International Business Machines during the 4th quarter worth $29,000. Ables Iannone Moore & Associates Inc. acquired a new stake in International Business Machines in the fourth quarter worth $31,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in International Business Machines in the second quarter valued at $36,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

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.