International Business Machines (NYSE:IBM) Stock Price Down 0.7%

International Business Machines Co. (NYSE:IBM) shares dropped 0.7% during trading on Wednesday . The company traded as low as $170.41 and last traded at $171.34. Approximately 462,896 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 4,564,146 shares. The stock had previously closed at $172.60.

Analyst Ratings Changes

IBM has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Morgan Stanley lowered their price objective on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Wedbush upped their target price on shares of International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Bank of America upped their target price on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Finally, BNP Paribas initiated coverage on shares of International Business Machines in a research note on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 target price for the company. 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.com, the company presently has an average rating of “Hold” and a consensus target price of $182.53.

International Business Machines Price Performance

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 has a market cap of $156.97 billion, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 4.24 and a beta of 0.72. The business’s 50-day simple moving average is $170.34 and its two-hundred day simple moving average is $176.37.

International Business Machines (NYSE:IBM) last issued its 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. 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 quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the business posted $1.36 earnings per share. Research analysts expect that International Business Machines Co. will post 9.9 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.91%. 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. International Business Machines’s dividend payout ratio (DPR) is currently 75.65%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in IBM. FPC Investment Advisory Inc. acquired a new position in shares of International Business Machines during the first quarter valued at about $26,000. Naples Money Management LLC purchased a new position in International Business Machines during the fourth quarter worth about $28,000. ESL Trust Services LLC purchased a new position in International Business Machines during the first quarter worth about $28,000. Creekmur Asset Management LLC purchased a new position in International Business Machines during the fourth quarter worth about $29,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in International Business Machines during the fourth quarter worth about $31,000. 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.