International Business Machines (NYSE:IBM) Stock Price Up 1.5% – Still a Buy?

International Business Machines Co. (NYSE:IBM)’s stock price shot up 1.5% during mid-day trading on Monday . The stock traded as high as $248.49 and last traded at $247.44. 759,236 shares were traded during trading, a decline of 80% from the average session volume of 3,888,613 shares. The stock had previously closed at $243.87.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on IBM. Erste Group Bank upgraded International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. BMO Capital Markets boosted their price objective on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Jefferies Financial Group increased their target price on shares of International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. The Goldman Sachs Group restated a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. Finally, StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research report on Saturday, March 15th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average price target of $231.44.

International Business Machines Price Performance

The company has a market cap of $229.57 billion, a price-to-earnings ratio of 38.60, a PEG ratio of 5.81 and a beta of 0.74. The company’s 50 day moving average price is $246.77 and its 200 day moving average price is $230.09. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. Equities research analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date was Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is currently 104.21%.

Insider Transactions at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the sale, the senior vice president now owns 45,007 shares of the company’s stock, valued at $11,387,221.07. The trade was a 37.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Institutional Trading of International Business Machines

Several large investors have recently bought and sold shares of the company. JBR Co Financial Management Inc grew its stake in International Business Machines by 0.6% in the 4th quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company’s stock valued at $1,405,000 after acquiring an additional 40 shares during the last quarter. Wealth Dimensions Group Ltd. increased its stake in shares of International Business Machines by 1.0% during the 4th quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company’s stock worth $873,000 after purchasing an additional 40 shares in the last quarter. Schechter Investment Advisors LLC raised its position in shares of International Business Machines by 0.7% during the 4th quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company’s stock worth $1,396,000 after purchasing an additional 43 shares during the last quarter. Titleist Asset Management LLC increased its position in International Business Machines by 3.1% during the fourth quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company’s stock worth $315,000 after buying an additional 43 shares in the last quarter. Finally, Callan Capital LLC raised its holdings in shares of International Business Machines by 2.4% in the fourth quarter. Callan Capital LLC now owns 1,870 shares of the technology company’s stock worth $411,000 after acquiring an additional 44 shares during the last quarter. Institutional investors and hedge funds 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.