International Business Machines (NYSE:IBM) Stock Price Up 1.1% – Here’s What Happened

International Business Machines Co. (NYSE:IBM) shares traded up 1.1% on Wednesday . The stock traded as high as $224.44 and last traded at $224.41. 1,186,216 shares changed hands during trading, a decline of 72% from the average session volume of 4,239,474 shares. The stock had previously closed at $221.93.

Analysts Set New Price Targets

IBM has been the topic of several recent research reports. Evercore ISI boosted their price target on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. The Goldman Sachs Group boosted their target price on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. Morgan Stanley increased their price target on International Business Machines from $208.00 to $222.00 and gave the stock an “equal weight” rating in a report on Monday, December 16th. Bank of America boosted their price objective on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Bernstein Bank raised their target price on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $208.94.

International Business Machines Price Performance

The company has a fifty day simple moving average of $221.27 and a two-hundred day simple moving average of $205.12. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The company has a market capitalization of $207.94 billion, a price-to-earnings ratio of 32.74, a P/E/G ratio of 5.17 and a beta of 0.73.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same period in the prior year, the business posted $2.20 earnings per share. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, research analysts anticipate that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.97%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

Insider Buying and Selling at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.07% of the stock is owned by company insiders.

Institutional Trading of International Business Machines

Several large investors have recently added to or reduced their stakes in the stock. Hazlett Burt & Watson Inc. lifted its position in 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 worth $29,000 after acquiring an additional 116 shares in the last quarter. Hara Capital LLC acquired a new stake in International Business Machines in the third quarter valued at $29,000. Capital Performance Advisors LLP bought a new position in International Business Machines during the 3rd quarter valued at $43,000. Oliver Lagore Vanvalin Investment Group acquired a new position in International Business Machines during the 2nd quarter worth $36,000. Finally, Quest Partners LLC increased its position in shares of International Business Machines by 23,700.0% in the 3rd quarter. Quest Partners LLC now owns 238 shares of the technology company’s stock worth $53,000 after purchasing an additional 237 shares during the last quarter. 58.96% of the stock is currently 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.