International Business Machines (NYSE:IBM) Trading Down 0.8%

Shares of International Business Machines Co. (NYSE:IBM) dropped 0.8% during trading on Friday . The company traded as low as $172.32 and last traded at $172.60. Approximately 1,648,775 shares were traded during trading, a decline of 64% from the average daily volume of 4,528,374 shares. The stock had previously closed at $173.92.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of recent analyst reports. Stifel Nicolaus restated a “buy” rating and set a $190.00 price target on shares of International Business Machines in a research report on Thursday, May 16th. BNP Paribas started 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 target on the stock. JPMorgan Chase & Co. dropped their target price on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Sanford C. Bernstein boosted their target price on shares of International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a report on Thursday, March 7th. Finally, StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $181.29.

International Business Machines Price Performance

The firm has a market cap of $158.42 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 4.29 and a beta of 0.72. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09. The stock’s fifty day moving average price is $170.91 and its 200-day moving average price is $176.11.

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

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 3.87%. The ex-dividend date of this dividend was Thursday, May 9th. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio is currently 75.65%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Abich Financial Wealth Management LLC increased its stake in shares of International Business Machines by 40.4% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,113 shares of the technology company’s stock worth $213,000 after purchasing an additional 320 shares during the last quarter. Cape Investment Advisory Inc. increased its stake in shares of International Business Machines by 90.5% during the 1st quarter. Cape Investment Advisory Inc. now owns 4,198 shares of the technology company’s stock worth $802,000 after purchasing an additional 1,994 shares during the last quarter. TruNorth Capital Management LLC acquired a new position in shares of International Business Machines during the 1st quarter worth $221,000. EverSource Wealth Advisors LLC increased its stake in shares of International Business Machines by 75.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,405 shares of the technology company’s stock worth $459,000 after purchasing an additional 1,035 shares during the last quarter. Finally, Railway Pension Investments Ltd acquired a new position in shares of International Business Machines during the 1st quarter worth $24,328,000. Institutional investors and hedge funds 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.