International Business Machines (NYSE:IBM) Stock Price Down 0.8% – Here’s Why

International Business Machines Co. (NYSE:IBM) shares traded down 0.8% during mid-day trading on Monday . The stock traded as low as $221.42 and last traded at $221.52. 701,049 shares were traded during mid-day trading, a decline of 83% from the average session volume of 4,242,197 shares. The stock had previously closed at $223.36.

Analyst Ratings Changes

Several analysts have commented on IBM shares. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Morgan Stanley raised their target price on shares of International Business Machines from $208.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday, December 16th. Stifel Nicolaus upped their price target on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group raised their price objective on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, International Business Machines currently has a consensus rating of “Hold” and an average target price of $208.94.

International Business Machines Stock Up 1.1 %

The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The company has a market capitalization of $207.50 billion, a price-to-earnings ratio of 32.67, a P/E/G ratio of 5.17 and a beta of 0.73. The business’s 50-day moving average is $221.61 and its 200-day moving average is $204.84.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating 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 40.52% and a net margin of 10.22%. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.20 EPS. As a group, equities analysts predict that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Dividend Announcement

The company 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 2.98%. International Business Machines’s payout ratio is 97.23%.

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the sale, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.07% of the company’s stock.

Hedge Funds Weigh In On International Business Machines

A number of large investors have recently bought and sold shares of the business. Meeder Asset Management Inc. raised its stake in shares of International Business Machines by 40.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after buying an additional 166 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in International Business Machines in the 2nd quarter worth $7,160,000. Philip James Wealth Mangement LLC acquired a new position in International Business Machines during the third quarter worth $5,117,000. Lord Abbett & CO. LLC purchased a new position in International Business Machines during the third quarter valued at $24,761,000. Finally, Aljian Capital Management LLC acquired a new stake in shares of International Business Machines in the third quarter valued at about $611,000. 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.