International Business Machines Co. (NYSE:IBM – Get Free Report)’s stock price was up 1.5% during mid-day trading on Friday after Sanford C. Bernstein raised their price target on the stock from $210.00 to $215.00. Sanford C. Bernstein currently has a market perform rating on the stock. International Business Machines traded as high as $223.58 and last traded at $223.19. Approximately 1,513,678 shares traded hands during trading, a decline of 25% from the average daily volume of 2,005,902 shares. The stock had previously closed at $219.94.
IBM has been the subject of several other research reports. The Goldman Sachs Group boosted their price target on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Jefferies Financial Group boosted their target price on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. BMO Capital Markets raised their price target on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research report on Wednesday, October 2nd. Finally, Evercore ISI boosted their price target on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $210.65.
Read Our Latest Stock Analysis on International Business Machines
Insider Buying and Selling at International Business Machines
Institutional Trading of International Business Machines
A number of institutional investors and hedge funds have recently modified their holdings of IBM. Hazlett Burt & Watson Inc. boosted its stake in International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after buying an additional 116 shares in the last quarter. Hara Capital LLC bought a new position in shares of International Business Machines during the 3rd quarter worth about $29,000. Modus Advisors LLC acquired a new stake in shares of International Business Machines during the 4th quarter valued at about $40,000. Capital Performance Advisors LLP bought a new stake in International Business Machines in the third quarter valued at about $43,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new position in International Business Machines in the second quarter worth about $36,000. 58.96% of the stock is currently owned by institutional investors.
International Business Machines Trading Up 1.2 %
The stock has a market cap of $205.87 billion, a P/E ratio of 32.41, a PEG ratio of 5.18 and a beta of 0.73. The business’s 50 day simple moving average is $220.54 and its 200 day simple moving average is $207.26. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01.
International Business Machines (NYSE:IBM – Get Free Report) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS 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 business had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter last year, the company earned $2.20 EPS. International Business Machines’s revenue was up 1.5% on a year-over-year basis. On average, analysts expect that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.
International Business Machines Announces Dividend
The company also recently announced 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 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is currently 97.23%.
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.
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