International Business Machines (NYSE:IBM) Trading Up 0.5%

International Business Machines Co. (NYSE:IBM) shares shot up 0.5% during mid-day trading on Friday . The company traded as high as $215.82 and last traded at $215.00. 1,591,813 shares traded hands during trading, a decline of 62% from the average session volume of 4,220,002 shares. The stock had previously closed at $213.89.

Analysts Set New Price Targets

A number of research firms have recently weighed in on IBM. Evercore ISI increased their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. The Goldman Sachs Group started coverage on International Business Machines in a report on Monday, June 24th. They set a “buy” rating and a $200.00 target price on the stock. Jefferies Financial Group upped their price objective on International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Finally, StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $188.60.

International Business Machines Stock Up 1.0 %

The stock has a market capitalization of $198.47 billion, a price-to-earnings ratio of 24.49, a price-to-earnings-growth ratio of 4.67 and a beta of 0.70. 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 business’s 50-day moving average is $195.83 and its two-hundred day moving average is $184.21.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, beating the consensus estimate of $2.16 by $0.27. The firm had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.18 earnings per share. Equities analysts anticipate 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 issued a $1.67 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 3.09%. International Business Machines’s payout ratio is 75.65%.

Institutional Investors Weigh In On International Business Machines

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FPC Investment Advisory Inc. acquired a new position in International Business Machines in the first quarter valued at about $26,000. ESL Trust Services LLC purchased a new position in shares of International Business Machines during the 1st quarter worth approximately $28,000. Creekmur Asset Management LLC purchased a new stake in International Business Machines in the fourth quarter valued at approximately $29,000. Ables Iannone Moore & Associates Inc. acquired a new position in International Business Machines during the fourth quarter worth $31,000. Finally, Financial Synergies Wealth Advisors Inc. boosted its position in shares of International Business Machines by 164.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after buying an additional 123 shares during the period. 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.