International Business Machines (NYSE:IBM) Trading Up 0.6%

Shares of International Business Machines Co. (NYSE:IBM) shot up 0.6% on Monday . The stock traded as high as $219.49 and last traded at $219.05. 911,555 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 4,247,657 shares. The stock had previously closed at $217.70.

Wall Street Analysts Forecast Growth

Several research firms have commented on IBM. Royal Bank of Canada increased their price objective on shares of International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. The Goldman Sachs Group initiated coverage on International Business Machines in a research report on Monday, June 24th. They issued a “buy” rating and a $200.00 price objective for the company. BMO Capital Markets boosted their target price on shares of International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Finally, Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. 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.com, International Business Machines currently has a consensus rating of “Hold” and a consensus price target of $188.60.

International Business Machines Stock Up 1.1 %

The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The firm has a market cap of $202.24 billion, a price-to-earnings ratio of 24.91, a PEG ratio of 4.67 and a beta of 0.70. The business has a fifty day simple moving average of $196.52 and a 200 day simple moving average of $184.24.

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, topping analysts’ consensus estimates of $2.16 by $0.27. The company had revenue of $15.77 billion for 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 firm’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.18 earnings per share. As a group, equities analysts forecast that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently announced 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 3.03%. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Hedge Funds Weigh In On International Business Machines

Hedge funds and other institutional investors have recently made changes to their positions in the stock. 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. raised its holdings in shares of International Business Machines by 2.3% during the second 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 during the last quarter. CVA Family Office LLC grew its holdings in International Business Machines by 3.3% in the 2nd quarter. CVA Family Office LLC now owns 1,796 shares of the technology company’s stock worth $311,000 after buying an additional 57 shares in the last quarter. Mill Creek Capital Advisors LLC grew its stake in shares of International Business Machines by 5.1% in the second quarter. Mill Creek Capital Advisors LLC now owns 1,165 shares of the technology company’s stock worth $201,000 after purchasing an additional 57 shares in the last quarter. Finally, Chicago Partners Investment Group LLC increased its holdings in shares of International Business Machines by 0.8% during the fourth quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock valued at $1,309,000 after purchasing an additional 58 shares during the period. Hedge funds and other 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.