International Business Machines (NYSE:IBM) Trading Down 0.6% – Here’s Why

International Business Machines Co. (NYSE:IBM) shares dropped 0.6% during mid-day trading on Thursday . The company traded as low as $232.99 and last traded at $233.01. Approximately 778,173 shares were traded during trading, a decline of 81% from the average daily volume of 4,200,078 shares. The stock had previously closed at $234.30.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Royal Bank of Canada upped their price objective on International Business Machines from $211.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday. DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a research report on Wednesday, October 2nd. Bank of America lifted their price target on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Finally, Jefferies Financial Group upped their target price on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $198.41.

International Business Machines Price Performance

The business has a fifty day moving average of $205.92 and a 200-day moving average of $187.02. The firm has a market cap of $213.39 billion, a PE ratio of 26.31, a PEG ratio of 4.90 and a beta of 0.70. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. The business had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. 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. As a group, research analysts predict that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders 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 annualized dividend and a dividend yield of 2.88%. International Business Machines’s dividend payout ratio is currently 75.65%.

Institutional Investors Weigh In On International Business Machines

Several hedge funds have recently bought and sold shares of IBM. Arden Trust Co grew its holdings in shares of International Business Machines by 2.8% during the 1st quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock worth $377,000 after purchasing an additional 54 shares during the period. Armbruster Capital Management Inc. grew its holdings 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 worth $432,000 after buying an additional 56 shares in the last quarter. CVA Family Office LLC raised its position in shares of International Business Machines by 3.3% during 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 position 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 purchasing an additional 57 shares during the last quarter. Finally, Chicago Partners Investment Group LLC boosted its holdings in shares of International Business Machines by 0.8% during the 4th quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock worth $1,309,000 after buying an additional 58 shares during the period. Hedge funds and other institutional investors 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.