International Business Machines (NYSE:IBM) Shares Down 1.1%

International Business Machines Co. (NYSE:IBM)’s share price dropped 1.1% during trading on Thursday . The stock traded as low as $211.72 and last traded at $212.58. Approximately 1,069,180 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 4,212,170 shares. The stock had previously closed at $214.94.

Analyst Upgrades and Downgrades

Several analysts have weighed in on IBM shares. UBS Group boosted their target price on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. BMO Capital Markets upped their target price on International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Jefferies Financial Group raised their target price on International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. The Goldman Sachs Group assumed coverage on International Business Machines in a research note on Monday, June 24th. They set a “buy” rating and a $200.00 price target on the stock. Finally, Stifel Nicolaus raised their price objective on International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. 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 company. According to data from MarketBeat, International Business Machines has an average rating of “Hold” and an average price target of $188.60.

International Business Machines Stock Up 1.7 %

The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The firm has a market cap of $199.92 billion, a price-to-earnings ratio of 24.65, a PEG ratio of 4.67 and a beta of 0.70. The business’s 50 day moving average price is $196.52 and its 200 day moving average price is $184.38.

International Business Machines (NYSE:IBM) last released 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 company 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 firm’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the business earned $2.18 earnings per share. On average, equities analysts forecast that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a $1.67 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a yield of 3.07%. International Business Machines’s payout ratio is 75.65%.

Institutional Trading of International Business Machines

Institutional investors and hedge funds have recently made changes to their positions in the business. Arden Trust Co increased its stake in shares of International Business Machines by 2.8% in the first quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock worth $377,000 after buying an additional 54 shares during the last quarter. Armbruster Capital Management Inc. grew its position in International Business Machines by 2.3% in the 2nd quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company’s stock valued at $432,000 after buying an additional 56 shares in the last quarter. CVA Family Office LLC lifted its position in International Business Machines by 3.3% in the second quarter. CVA Family Office LLC now owns 1,796 shares of the technology company’s stock worth $311,000 after purchasing an additional 57 shares during the period. Mill Creek Capital Advisors LLC boosted its stake in International Business Machines by 5.1% during the second quarter. Mill Creek Capital Advisors LLC now owns 1,165 shares of the technology company’s stock valued at $201,000 after buying an additional 57 shares in the last quarter. Finally, Chicago Partners Investment Group LLC grew its stake in shares of International Business Machines by 0.8% in the 4th quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock worth $1,309,000 after purchasing an additional 58 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

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.