International Business Machines (NYSE:IBM) Sees Large Volume Increase on Analyst Upgrade

International Business Machines Co. (NYSE:IBM) saw strong trading volume on Friday after Sanford C. Bernstein raised their price target on the stock from $210.00 to $215.00. Sanford C. Bernstein currently has a market perform rating on the stock. 1,209,950 shares changed hands during mid-day trading, a decline of 35% from the previous session’s volume of 1,864,268 shares.The stock last traded at $222.83 and had previously closed at $219.94.

A number of other analysts also recently commented on IBM. Bernstein Bank increased their price target on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. BMO Capital Markets raised their target price on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a report on Thursday, October 24th. Stifel Nicolaus raised their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Jefferies Financial Group boosted their target price on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $210.65.

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.07% of the company’s stock.

Institutional Investors Weigh In On International Business Machines

Several large investors have recently added to or reduced their stakes in the business. Ellenbecker Investment Group boosted its position in shares of International Business Machines by 2.3% during the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock valued at $453,000 after acquiring an additional 46 shares during the last quarter. Goldstein Advisors LLC lifted its position in International Business Machines by 4.0% during the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock valued at $269,000 after purchasing an additional 47 shares during the last quarter. Vertex Planning Partners LLC grew its stake in International Business Machines by 3.6% in the 3rd quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock worth $298,000 after buying an additional 47 shares in the last quarter. Sollinda Capital Management LLC increased its holdings in shares of International Business Machines by 3.7% in the 3rd quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock worth $301,000 after buying an additional 49 shares during the last quarter. Finally, Lansing Street Advisors lifted its holdings in shares of International Business Machines by 3.4% during the 3rd quarter. Lansing Street Advisors now owns 1,503 shares of the technology company’s stock worth $332,000 after acquiring an additional 49 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 1.2 %

The stock has a 50-day simple moving average of $220.38 and a two-hundred day simple moving average of $206.89. The firm has a market cap of $205.87 billion, a PE ratio of 32.41, a P/E/G ratio of 5.18 and a beta of 0.73. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same period last year, the firm posted $2.20 earnings per share. The business’s revenue was up 1.5% compared to the same quarter last year. Analysts expect that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were paid a dividend of $1.67 per share. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.00%. International Business Machines’s dividend payout ratio (DPR) is currently 97.23%.

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.