International Business Machines (NYSE:IBM) Trading Down 0.1% After Analyst Downgrade

International Business Machines Co. (NYSE:IBM)’s share price dropped 0.1% during trading on Friday after Morgan Stanley lowered their price target on the stock from $217.00 to $208.00. Morgan Stanley currently has an equal weight rating on the stock. International Business Machines traded as low as $215.73 and last traded at $218.21. Approximately 1,760,540 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 4,213,449 shares. The stock had previously closed at $218.39.

A number of other analysts have also issued reports on IBM. The Goldman Sachs Group lifted their price target on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. UBS Group boosted their price objective on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. Bank of America lifted their price objective on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Royal Bank of Canada lifted their target price on shares of International Business Machines from $211.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Finally, Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned 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 $208.12.

Hedge Funds Weigh In On International Business Machines

A number of hedge funds have recently made changes to their positions in the stock. Cutter & CO Brokerage Inc. increased its position in International Business Machines by 3.9% during the 3rd quarter. Cutter & CO Brokerage Inc. now owns 4,541 shares of the technology company’s stock valued at $1,004,000 after purchasing an additional 170 shares during the period. True Link Financial Advisors LLC boosted its stake in shares of International Business Machines by 9.9% in the 3rd quarter. True Link Financial Advisors LLC now owns 1,835 shares of the technology company’s stock valued at $406,000 after purchasing an additional 166 shares during the last quarter. MONECO Advisors LLC increased its position in shares of International Business Machines by 2.5% during the third quarter. MONECO Advisors LLC now owns 11,977 shares of the technology company’s stock worth $2,648,000 after buying an additional 291 shares during the period. Fortitude Family Office LLC raised its stake in International Business Machines by 317.9% during the third quarter. Fortitude Family Office LLC now owns 5,876 shares of the technology company’s stock worth $1,299,000 after buying an additional 4,470 shares during the last quarter. Finally, Gateway Wealth Partners LLC lifted its holdings in International Business Machines by 4.4% in the third quarter. Gateway Wealth Partners LLC now owns 1,339 shares of the technology company’s stock valued at $296,000 after buying an additional 57 shares during the period. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Down 0.1 %

The stock’s 50-day simple moving average is $215.16 and its 200 day simple moving average is $190.25. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The firm has a market cap of $200.45 billion, a P/E ratio of 24.71, a PEG ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM) last released its 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. The business had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. During the same quarter last year, the firm posted $2.20 earnings per share. The firm’s revenue was up 1.5% on a year-over-year basis. As a group, research 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 disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a $1.67 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.06%. International Business Machines’s dividend payout ratio is currently 75.65%.

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.