International Business Machines (NYSE:IBM) Trading 0.3% Higher – Here’s Why

Shares of International Business Machines Co. (NYSE:IBM) traded up 0.3% during mid-day trading on Tuesday . The company traded as high as $250.61 and last traded at $249.24. 647,391 shares changed hands during trading, a decline of 83% from the average session volume of 3,901,451 shares. The stock had previously closed at $248.45.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Wedbush began coverage on shares of International Business Machines in a research report on Monday, February 3rd. They set an “outperform” rating on the stock. JPMorgan Chase & Co. upped their target price on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research report on Saturday, March 15th. Morgan Stanley increased their price target on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Finally, Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and an average price target of $231.44.

International Business Machines Trading Up 0.4 %

The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The stock has a market cap of $231.20 billion, a PE ratio of 38.87, a P/E/G ratio of 5.81 and a beta of 0.74. The firm has a 50-day simple moving average of $247.40 and a 200-day simple moving average of $230.42.

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

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a dividend of $1.67 per share. The ex-dividend date was Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.68%. International Business Machines’s payout ratio is presently 104.21%.

Insider Transactions at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the transaction, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On International Business Machines

Hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its position in International Business Machines by 1.4% in the 4th quarter. Wellington Management Group LLP now owns 231,021 shares of the technology company’s stock worth $50,785,000 after buying an additional 3,206 shares during the last quarter. Mascagni Wealth Management Inc. purchased a new position in shares of International Business Machines during the fourth quarter worth approximately $43,000. DSG Capital Advisors LLC purchased a new stake in shares of International Business Machines in the 4th quarter valued at $372,000. Triton Wealth Management PLLC grew its holdings in shares of International Business Machines by 23.0% during the 4th quarter. Triton Wealth Management PLLC now owns 1,274 shares of the technology company’s stock valued at $271,000 after purchasing an additional 238 shares during the last quarter. Finally, 111 Capital purchased a new position in International Business Machines in the 4th quarter worth $292,000. Institutional investors 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.