International Business Machines (NYSE:IBM) Stock Price Down 2.6% – Here’s Why

International Business Machines Co. (NYSE:IBM) was down 2.6% during mid-day trading on Thursday . The stock traded as low as $242.53 and last traded at $243.57. Approximately 1,602,683 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 4,105,182 shares. The stock had previously closed at $249.98.

Analyst Ratings Changes

A number of research analysts recently weighed in on IBM shares. Morgan Stanley raised their price target on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Sanford C. Bernstein boosted their target price on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research report on Monday, January 27th. BMO Capital Markets boosted 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 note on Thursday, January 30th. Finally, Bank of America lifted their price objective on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $231.13.

International Business Machines Trading Down 6.6 %

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 firm has a market capitalization of $210.78 billion, a PE ratio of 35.46, a P/E/G ratio of 5.81 and a beta of 0.67. The stock’s 50-day simple moving average is $251.46 and its 200-day simple moving average is $232.41.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. As a group, sell-side analysts expect that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Insider Transactions at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the transaction, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On International Business Machines

Several hedge funds and other institutional investors have recently made changes to their positions in IBM. Quent Capital LLC increased its stake in International Business Machines by 8.7% in the 1st quarter. Quent Capital LLC now owns 4,109 shares of the technology company’s stock worth $1,022,000 after acquiring an additional 330 shares during the last quarter. Agate Pass Investment Management LLC boosted its holdings in shares of International Business Machines by 72.6% in the 1st quarter. Agate Pass Investment Management LLC now owns 7,393 shares of the technology company’s stock worth $1,838,000 after purchasing an additional 3,110 shares during the period. Legacy Private Trust Co. increased its position in shares of International Business Machines by 44.1% during the 1st quarter. Legacy Private Trust Co. now owns 4,425 shares of the technology company’s stock valued at $1,100,000 after purchasing an additional 1,355 shares during the last quarter. Versant Capital Management Inc raised its holdings in International Business Machines by 60.7% during the 1st quarter. Versant Capital Management Inc now owns 1,032 shares of the technology company’s stock valued at $257,000 after buying an additional 390 shares during the period. Finally, Marotta Asset Management lifted its position in International Business Machines by 6.6% in the first quarter. Marotta Asset Management now owns 1,660 shares of the technology company’s stock worth $413,000 after buying an additional 103 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

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.