International Business Machines (NYSE:IBM) Trading Down 0.9%

International Business Machines Co. (NYSE:IBM) shares traded down 0.9% during mid-day trading on Tuesday . The stock traded as low as $175.75 and last traded at $175.98. 590,507 shares changed hands during trading, a decline of 87% from the average session volume of 4,455,511 shares. The stock had previously closed at $177.64.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Jefferies Financial Group decreased their target price on International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a research note on Tuesday, April 23rd. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. UBS Group lifted their price objective on International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a research note on Monday, April 22nd. BNP Paribas assumed coverage on International Business Machines in a research note on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 price objective on the stock. Finally, Wedbush lifted their price objective on International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $182.53.

International Business Machines Stock Down 0.7 %

The company has a 50-day moving average of $170.06 and a 200-day moving average of $177.19. The company has a market capitalization of $162.11 billion, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 4.34 and a beta of 0.71. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data 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. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The company’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.36 earnings per share. On average, equities analysts predict that International Business Machines Co. will post 9.9 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were paid a $1.67 dividend. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date was Thursday, May 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.79%. International Business Machines’s dividend payout ratio is presently 75.65%.

Institutional Trading of International Business Machines

Hedge funds have recently modified their holdings of the stock. Desjardins Global Asset Management Inc. grew its stake in International Business Machines by 1.4% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 3,940 shares of the technology company’s stock valued at $644,000 after purchasing an additional 54 shares in the last quarter. Arden Trust Co raised its holdings in International Business Machines by 2.8% in the 1st quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock valued at $377,000 after acquiring an additional 54 shares in the last quarter. Calamos Wealth Management LLC raised its holdings in shares of International Business Machines by 2.8% in the 4th quarter. Calamos Wealth Management LLC now owns 2,007 shares of the technology company’s stock worth $328,000 after buying an additional 55 shares in the last quarter. Avion Wealth raised its holdings in shares of International Business Machines by 6.2% in the 4th quarter. Avion Wealth now owns 964 shares of the technology company’s stock worth $158,000 after buying an additional 56 shares in the last quarter. Finally, Chicago Partners Investment Group LLC raised its holdings in shares of International Business Machines by 0.8% in the 4th quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock worth $1,309,000 after buying an additional 58 shares in 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.