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

International Business Machines Co. (NYSE:IBM) shares fell 0% during mid-day trading on Tuesday . The company traded as low as $226.67 and last traded at $227.32. 495,977 shares changed hands during trading, a decline of 88% from the average session volume of 4,216,282 shares. The stock had previously closed at $227.39.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. 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 report on Wednesday, September 11th. Stifel Nicolaus raised their target price on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Bernstein Bank raised their price target on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Morgan Stanley decreased their price objective on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Finally, Bank of America boosted their target price on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. 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. Based on data from MarketBeat.com, International Business Machines currently has an average rating of “Hold” and a consensus price target of $208.12.

International Business Machines Stock Performance

The firm has a 50 day simple moving average of $220.63 and a 200-day simple moving average of $197.69. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The company has a market cap of $210.42 billion, a price-to-earnings ratio of 33.09, a PEG ratio of 5.11 and a beta of 0.73.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the business earned $2.20 EPS. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, analysts predict that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be issued a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 2.94%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Insider Transactions at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.07% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Capasso Planning Partners LLC boosted its position in shares of International Business Machines by 31.8% in the 3rd quarter. Capasso Planning Partners LLC now owns 4,737 shares of the technology company’s stock valued at $1,047,000 after purchasing an additional 1,144 shares during the period. Inspire Trust Co. N.A. grew its position in shares of International Business Machines by 6.4% during the third quarter. Inspire Trust Co. N.A. now owns 16,525 shares of the technology company’s stock worth $3,653,000 after acquiring an additional 1,000 shares during the last quarter. Old North State Trust LLC increased its holdings in shares of International Business Machines by 13.6% in the 3rd quarter. Old North State Trust LLC now owns 4,399 shares of the technology company’s stock valued at $973,000 after acquiring an additional 525 shares during the period. Franklin Resources Inc. boosted its stake in International Business Machines by 22.9% during the 3rd quarter. Franklin Resources Inc. now owns 1,622,432 shares of the technology company’s stock worth $381,683,000 after purchasing an additional 302,675 shares during the period. Finally, Optimist Retirement Group LLC increased its stake in International Business Machines by 0.6% in the third quarter. Optimist Retirement Group LLC now owns 12,125 shares of the technology company’s stock valued at $2,681,000 after purchasing an additional 72 shares during the period. 58.96% of the stock is owned by hedge funds and other 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.