International Business Machines (NYSE:IBM) Shares Up 0.7% – What’s Next?

International Business Machines Co. (NYSE:IBM)’s stock price rose 0.7% during mid-day trading on Friday . The stock traded as high as $215.39 and last traded at $215.22. Approximately 478,139 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 4,232,706 shares. The stock had previously closed at $213.69.

Analysts Set New Price Targets

Several research analysts have recently weighed in on IBM shares. BMO Capital Markets boosted their price target on shares of 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. DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a research note on Wednesday, October 2nd. Bank of America boosted their price objective on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Finally, 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. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $208.12.

International Business Machines Price Performance

The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The stock has a 50 day moving average of $217.49 and a two-hundred day moving average of $191.86. The firm has a market capitalization of $197.62 billion, a P/E ratio of 31.33, a P/E/G ratio of 4.64 and a beta of 0.71.

International Business Machines (NYSE:IBM) last issued 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 return on equity of 40.52% and a net margin of 10.22%. The company had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same period in the previous year, the business posted $2.20 EPS. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. Sell-side analysts predict that International Business Machines Co. will post 10.11 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be given a dividend of $1.67 per share. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 3.13%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Institutional Trading of International Business Machines

Hedge funds have recently modified their holdings of the company. Prospera Private Wealth LLC bought a new stake in International Business Machines during the 3rd quarter worth about $553,000. Thompson Davis & CO. Inc. bought a new stake in shares of International Business Machines during the 3rd quarter valued at $229,000. Counterweight Ventures LLC acquired a new stake in shares of International Business Machines during the third quarter worth $346,000. West Family Investments Inc. lifted its stake in International Business Machines by 26.2% in the third quarter. West Family Investments Inc. now owns 3,763 shares of the technology company’s stock valued at $832,000 after buying an additional 782 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of International Business Machines during the 3rd quarter worth about $13,527,000. Institutional investors and hedge funds 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.