International Business Machines (NYSE:IBM) Stock Price Down 0%

International Business Machines Co. (NYSE:IBM) dropped 0% on Wednesday . The company traded as low as $213.59 and last traded at $214.05. Approximately 482,084 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 4,212,961 shares. The stock had previously closed at $214.13.

Wall Street Analyst Weigh In

IBM has been the subject of a number of research analyst reports. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Royal Bank of Canada boosted their price target on International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. 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. Jefferies Financial Group upped their price objective on International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Finally, The Goldman Sachs Group initiated coverage on International Business Machines in a research note on Monday, June 24th. They set a “buy” rating and a $200.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $188.60.

International Business Machines Stock Down 0.5 %

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 stock has a 50-day simple moving average of $195.83 and a 200-day simple moving average of $184.21. The company has a market cap of $196.48 billion, a price-to-earnings ratio of 24.22, a price-to-earnings-growth ratio of 4.67 and a beta of 0.70.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. During the same quarter in the prior year, the firm posted $2.18 earnings per share. The company’s revenue was up 1.9% on a year-over-year basis. As a group, analysts predict that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 3.12%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio is 75.65%.

Institutional Investors Weigh In On International Business Machines

Several hedge funds have recently modified their holdings of the stock. FPC Investment Advisory Inc. acquired a new position in International Business Machines in the 1st quarter worth about $26,000. ESL Trust Services LLC bought a new stake in International Business Machines during the 1st quarter valued at approximately $28,000. Creekmur Asset Management LLC bought a new stake in shares of International Business Machines in the 4th quarter worth approximately $29,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of International Business Machines in the 4th quarter worth approximately $31,000. Finally, Financial Synergies Wealth Advisors Inc. lifted its position in shares of International Business Machines by 164.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after acquiring an additional 123 shares during the period. 58.96% of the stock is owned by hedge funds and other 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.