International Business Machines (NYSE:IBM) Trading Up 3.2%

International Business Machines Co. (NYSE:IBM) shares rose 3.2% during mid-day trading on Monday . The stock traded as high as $178.46 and last traded at $177.93. Approximately 1,322,484 shares were traded during trading, a decline of 71% from the average daily volume of 4,572,768 shares. The stock had previously closed at $172.46.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Bank of America lifted their price objective on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, March 14th. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. BMO Capital Markets reduced their target price on International Business Machines from $210.00 to $190.00 and set a “market perform” rating on the stock in a report on Thursday, April 25th. BNP Paribas started coverage on International Business Machines in a report on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 target price on the stock. Finally, Morgan Stanley reduced their target price on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $182.53.

International Business Machines Stock Down 0.4 %

The firm’s 50-day moving average is $170.56 and its two-hundred day moving average is $176.40. The stock has a market cap of $157.88 billion, a P/E ratio of 19.46, a PEG ratio of 4.26 and a beta of 0.72. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13.

International Business Machines (NYSE:IBM) last issued its earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.59 by $0.09. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.36 EPS. On average, equities research analysts anticipate that International Business Machines Co. will post 9.9 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were given a dividend of $1.67 per share. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date was Thursday, May 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.89%. International Business Machines’s payout ratio is presently 75.65%.

Institutional Trading of International Business Machines

Several institutional investors and hedge funds have recently made changes to their positions in IBM. Norges Bank bought a new stake in shares of International Business Machines in the 4th quarter valued at $1,019,009,000. Vanguard Group Inc. increased its position in shares of International Business Machines by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after buying an additional 5,546,855 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of International Business Machines by 15,439.1% in the 4th quarter. International Assets Investment Management LLC now owns 2,653,462 shares of the technology company’s stock valued at $433,974,000 after buying an additional 2,636,386 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of International Business Machines by 151.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock valued at $671,352,000 after buying an additional 2,118,165 shares in the last quarter. Finally, Morgan Stanley boosted its stake in International Business Machines by 13.4% in the 3rd quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock worth $2,280,968,000 after purchasing an additional 1,919,490 shares during the period. Institutional investors own 58.96% of the company’s stock.

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.