International Business Machines (NYSE:IBM) Shares Up 1.5% Following Analyst Upgrade

Shares of International Business Machines Co. (NYSE:IBM) traded up 1.5% during trading 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. International Business Machines traded as high as $223.58 and last traded at $223.19. 1,513,678 shares were traded during trading, a decline of 25% from the average session volume of 2,005,902 shares. The stock had previously closed at $219.94.

A number of other research analysts have also recently issued reports on the company. Bank of America raised their price objective on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Stifel Nicolaus lifted their price target on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a report on Wednesday, October 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a report on Thursday, October 24th. Finally, Evercore ISI boosted their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $210.65.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.07% of the company’s stock.

Institutional Trading of International Business Machines

A number of large investors have recently made changes to their positions in the stock. Modus Advisors LLC bought a new stake in International Business Machines in the 4th quarter worth approximately $40,000. GAMMA Investing LLC grew its holdings in shares of International Business Machines by 9.5% in the fourth quarter. GAMMA Investing LLC now owns 14,832 shares of the technology company’s stock worth $3,261,000 after acquiring an additional 1,281 shares during the period. Versant Capital Management Inc increased its position in International Business Machines by 92.2% during the fourth quarter. Versant Capital Management Inc now owns 642 shares of the technology company’s stock valued at $141,000 after acquiring an additional 308 shares during the last quarter. Global Wealth Strategies & Associates increased its position in International Business Machines by 10.0% during the fourth quarter. Global Wealth Strategies & Associates now owns 1,245 shares of the technology company’s stock valued at $274,000 after acquiring an additional 113 shares during the last quarter. Finally, Old Port Advisors boosted its position in International Business Machines by 2.8% in the fourth quarter. Old Port Advisors now owns 20,868 shares of the technology company’s stock worth $4,588,000 after purchasing an additional 570 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Trading Up 1.2 %

The firm has a market capitalization of $205.87 billion, a P/E ratio of 32.41, a P/E/G ratio of 5.18 and a beta of 0.73. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The stock has a 50 day simple moving average of $220.38 and a 200-day simple moving average of $206.89.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share 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 business 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 earned $2.20 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis. On average, equities research analysts forecast that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Dividend Announcement

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

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.