International Business Machines (NYSE:IBM) Shares Up 0.5%

International Business Machines Co. (NYSE:IBM)’s share price shot up 0.5% during trading on Tuesday . The company traded as high as $189.74 and last traded at $189.71. 663,498 shares were traded during trading, a decline of 87% from the average session volume of 5,210,957 shares. The stock had previously closed at $188.79.

Analyst Upgrades and Downgrades

IBM has been the subject of several research analyst reports. Evercore ISI raised International Business Machines from an “in-line” rating to an “outperform” rating and raised their target price for the company from $165.00 to $200.00 in a research report on Friday, January 19th. Bank of America boosted their target price on shares of International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Royal Bank of Canada lifted their price target on shares of International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Jefferies Financial Group initiated coverage on International Business Machines in a research note on Friday, January 5th. They issued a “hold” rating and a $180.00 target price on the stock. Finally, Societe Generale reiterated a “sell” rating and set a $143.00 price target on shares of International Business Machines in a research note on Friday, January 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average price target of $176.85.

International Business Machines Price Performance

The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 2.22. The firm has a fifty day moving average of $186.30 and a two-hundred day moving average of $163.98. The company has a market capitalization of $174.91 billion, a PE ratio of 23.47, a PEG ratio of 3.69 and a beta of 0.70.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 24th. The technology company reported $3.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.78 by $0.09. The firm had revenue of $17.38 billion for the quarter, compared to analysts’ expectations of $17.29 billion. International Business Machines had a return on equity of 39.55% and a net margin of 12.13%. The business’s revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.60 earnings per share. Research analysts anticipate that International Business Machines Co. will post 10.07 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 9th. Investors of record on Friday, February 9th were paid a $1.66 dividend. The ex-dividend date was Thursday, February 8th. This represents a $6.64 annualized dividend and a dividend yield of 3.48%. International Business Machines’s payout ratio is 81.67%.

Hedge Funds Weigh In On International Business Machines

Hedge funds have recently bought and sold shares of the company. Naples Money Management LLC purchased a new position in shares of International Business Machines during the fourth quarter valued at approximately $28,000. Cornerstone Planning Group LLC purchased a new stake in International Business Machines during the 2nd quarter valued at $28,000. Creekmur Asset Management LLC bought a new stake in shares of International Business Machines during the 4th quarter valued at about $29,000. Live Oak Investment Partners purchased a new stake in shares of International Business Machines during the 4th quarter valued at about $30,000. Finally, Briaud Financial Planning Inc purchased a new position in shares of International Business Machines in the third quarter worth approximately $31,000. 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.