International Business Machines (NYSE:IBM) Stock Price Down 0% – Here’s What Happened

International Business Machines Co. (NYSE:IBM) dropped 0% during trading on Tuesday . The stock traded as low as $259.83 and last traded at $261.22. Approximately 870,185 shares changed hands during trading, a decline of 81% from the average daily volume of 4,621,599 shares. The stock had previously closed at $261.28.

Analyst Ratings Changes

A number of brokerages have weighed in on IBM. BMO Capital Markets raised their target price on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Sanford C. Bernstein increased their price objective on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Morgan Stanley boosted their price target on International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. raised their target price on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Finally, UBS Group boosted their price target on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research note on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $231.44.

International Business Machines Price Performance

The stock has a market cap of $244.89 billion, a P/E ratio of 41.32, a P/E/G ratio of 5.77 and a beta of 0.76. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The business has a 50 day simple moving average of $234.00 and a 200-day simple moving average of $220.96.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. On average, sell-side analysts forecast that International Business Machines Co. will post 10.77 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be paid a $1.67 dividend. The ex-dividend date is Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.52%. International Business Machines’s payout ratio is 104.21%.

Institutional Trading of International Business Machines

Several hedge funds have recently made changes to their positions in IBM. Compass Financial Services Inc bought a new stake in International Business Machines in the 4th quarter valued at about $26,000. Hazlett Burt & Watson Inc. lifted its stake in shares of 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 valued at $29,000 after buying an additional 116 shares in the last quarter. Hara Capital LLC bought a new position in International Business Machines in the 3rd quarter worth approximately $29,000. Vision Financial Markets LLC purchased a new position in International Business Machines in the 4th quarter valued at approximately $31,000. Finally, Avondale Wealth Management grew its stake in International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after buying an additional 56 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

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.