International Business Machines (NYSE:IBM) Trading Up 1.3%

International Business Machines Co. (NYSE:IBM)’s stock price rose 1.3% during trading on Friday . The stock traded as high as $173.30 and last traded at $173.14. Approximately 467,707 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 4,536,117 shares. The stock had previously closed at $170.85.

Analyst Upgrades and Downgrades

IBM has been the subject of several recent analyst reports. The Goldman Sachs Group initiated coverage on shares of International Business Machines in a research note on Monday. They issued a “buy” rating and a $200.00 target price for the company. BNP Paribas initiated coverage on shares of International Business Machines in a research report on Thursday, May 2nd. They set an “underperform” rating and a $145.00 price objective for the company. Bank of America increased their price objective on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Wedbush increased their price objective on shares of International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Finally, Morgan Stanley reduced their target price on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $182.53.

International Business Machines Trading Up 0.9 %

The firm has a market capitalization of $158.42 billion, a P/E ratio of 19.61, a price-to-earnings-growth ratio of 4.24 and a beta of 0.72. The business’s 50-day moving average is $170.34 and its 200 day moving average is $176.37. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09.

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

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Thursday, May 9th. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a yield of 3.87%. International Business Machines’s dividend payout ratio (DPR) is currently 75.65%.

Institutional Investors Weigh In On International Business Machines

Several hedge funds have recently added to or reduced their stakes in IBM. Vanguard Group Inc. lifted 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 worth $16,833,642,000 after purchasing an additional 5,546,855 shares during the period. Morgan Stanley increased its stake in shares of International Business Machines by 13.4% in the 3rd quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock valued at $2,280,968,000 after acquiring an additional 1,919,490 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of International Business Machines by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,465,214 shares of the technology company’s stock valued at $1,048,631,000 after acquiring an additional 61,028 shares in the last quarter. Norges Bank bought a new stake in shares of International Business Machines in the 4th quarter valued at $1,019,009,000. Finally, Dimensional Fund Advisors LP increased its stake in International Business Machines by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,500,184 shares of the technology company’s stock valued at $736,015,000 after purchasing an additional 97,482 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

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.