International Business Machines (NYSE:IBM) Stock Price Down 0.9% – Time to Sell?

International Business Machines Co. (NYSE:IBM)’s stock price traded down 0.9% on Friday . The company traded as low as $243.68 and last traded at $244.07. 419,558 shares were traded during mid-day trading, a decline of 89% from the average session volume of 3,883,765 shares. The stock had previously closed at $246.21.

Wall Street Analyst Weigh In

IBM has been the subject of several recent analyst reports. Oppenheimer started coverage on International Business Machines in a research note on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price objective for the company. The Goldman Sachs Group reissued a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Bank of America raised their price objective on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Morgan Stanley lifted their target price on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Finally, Sanford C. Bernstein increased their price target on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $231.44.

International Business Machines Stock Down 1.1 %

The firm has a market capitalization of $225.77 billion, a price-to-earnings ratio of 37.98, a P/E/G ratio of 5.81 and a beta of 0.74. The business’s 50-day moving average is $249.12 and its two-hundred day moving average is $231.01. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (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%. On average, equities analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a $1.67 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.74%. International Business Machines’s dividend payout ratio is presently 104.21%.

Insiders Place Their Bets

In related news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were 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 directly owns 45,007 shares in the company, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Institutional Trading of International Business Machines

Several hedge funds and other institutional investors have recently modified their holdings of the company. Blue Zone Wealth Advisors LLC bought a new position in shares of International Business Machines during the 4th quarter worth approximately $242,000. Brady Martz Wealth Solutions LLC acquired a new position in shares of International Business Machines during the 4th quarter worth approximately $1,940,000. Tranquilli Financial Advisor LLC bought a new position in shares of International Business Machines in the fourth quarter valued at about $373,000. Truist Financial Corp lifted its stake in shares of International Business Machines by 6.5% during the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock worth $178,296,000 after buying an additional 49,591 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in International Business Machines by 6.5% in the 4th quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock valued at $16,615,000 after buying an additional 4,625 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.