International Business Machines (NYSE:IBM) Trading Down 0%

International Business Machines Co. (NYSE:IBM) shares dropped 0% during mid-day trading on Wednesday . The stock traded as low as $213.59 and last traded at $214.05. Approximately 482,084 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 4,212,961 shares. The stock had previously closed at $214.13.

Wall Street Analysts Forecast Growth

IBM has been the subject of a number of research reports. Stifel Nicolaus lifted their target price on International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Evercore ISI increased their target price on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. UBS Group raised their price objective on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada raised their price target on International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research report on Thursday, July 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. Based on data from MarketBeat, International Business Machines currently has an average rating of “Hold” and an average price target of $188.60.

International Business Machines Stock Up 0.4 %

The stock has a 50 day moving average price of $194.37 and a 200 day moving average price of $183.78. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The stock has a market capitalization of $197.39 billion, a price-to-earnings ratio of 24.24, a price-to-earnings-growth ratio of 4.67 and a beta of 0.70.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. The firm had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.18 EPS. As a group, analysts forecast that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s dividend payout ratio is presently 75.65%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of IBM. Verity & Verity LLC increased its stake in shares of International Business Machines by 2.7% in the 2nd quarter. Verity & Verity LLC now owns 97,384 shares of the technology company’s stock valued at $16,843,000 after acquiring an additional 2,584 shares in the last quarter. Heritage Wealth Management Inc. bought a new position in shares of International Business Machines in the second quarter valued at approximately $1,468,000. Lazari Capital Management Inc. boosted its position in shares of International Business Machines by 9.7% during the second quarter. Lazari Capital Management Inc. now owns 1,973 shares of the technology company’s stock valued at $341,000 after buying an additional 174 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in International Business Machines during the second quarter worth $40,068,000. Finally, Creekside Partners purchased a new position in International Business Machines during the 2nd quarter worth $584,000. Institutional investors and hedge funds 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.