International Business Machines (NYSE:IBM) Stock Price Up 0.6%

International Business Machines Co. (NYSE:IBM) shares were up 0.6% during trading on Tuesday . The company traded as high as $176.43 and last traded at $176.13. Approximately 564,956 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 4,524,967 shares. The stock had previously closed at $175.10.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. The Goldman Sachs Group initiated coverage on International Business Machines in a research report on Monday, June 24th. They set a “buy” rating and a $200.00 price objective for the company. JPMorgan Chase & Co. dropped their price target on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. UBS Group increased their price objective on shares of International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a research report on Monday, April 22nd. Bank of America lifted their target price on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Finally, BMO Capital Markets cut their price target on shares of 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. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $182.53.

International Business Machines Stock Performance

The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. The company has a market cap of $161.41 billion, a PE ratio of 19.90, a P/E/G ratio of 4.37 and a beta of 0.71. The business’s fifty day moving average is $169.72 and its 200-day moving average is $176.76.

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

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were issued a dividend of $1.67 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $6.68 annualized dividend and a yield of 3.80%. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s payout ratio is currently 75.65%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Beese Fulmer Investment Management Inc. boosted its stake in shares of International Business Machines by 1.7% in the second quarter. Beese Fulmer Investment Management Inc. now owns 10,398 shares of the technology company’s stock worth $1,798,000 after acquiring an additional 174 shares during the period. Moody National Bank Trust Division lifted its holdings in International Business Machines by 1.4% in the 2nd quarter. Moody National Bank Trust Division now owns 7,915 shares of the technology company’s stock worth $1,369,000 after purchasing an additional 108 shares in the last quarter. Global Wealth Strategies & Associates boosted its stake in International Business Machines by 6.8% in the 2nd quarter. Global Wealth Strategies & Associates now owns 1,132 shares of the technology company’s stock worth $196,000 after purchasing an additional 72 shares during the period. Marcum Wealth LLC grew its holdings in International Business Machines by 0.8% during the 2nd quarter. Marcum Wealth LLC now owns 9,013 shares of the technology company’s stock valued at $1,559,000 after buying an additional 72 shares in the last quarter. Finally, Hudson Valley Investment Advisors Inc. ADV raised its position in shares of International Business Machines by 2.5% during the second quarter. Hudson Valley Investment Advisors Inc. ADV now owns 15,094 shares of the technology company’s stock valued at $2,432,000 after buying an additional 365 shares during the last quarter. 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.