International Business Machines (NYSE:IBM) Stock Price Down 2.2% – What’s Next?

International Business Machines Co. (NYSE:IBM)’s share price was down 2.2% on Thursday . The company traded as low as $228.86 and last traded at $230.06. Approximately 1,138,758 shares changed hands during trading, a decline of 73% from the average daily volume of 4,187,883 shares. The stock had previously closed at $235.31.

Analyst Ratings Changes

A number of brokerages recently weighed in on IBM. Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Sanford C. Bernstein raised their target price on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Jefferies Financial Group reduced their price target on International Business Machines from $270.00 to $265.00 and set a “hold” rating on the stock in a research report on Monday, March 31st. The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research note on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average target price of $231.13.

International Business Machines Stock Up 2.6 %

The firm has a market cap of $218.37 billion, a P/E ratio of 36.74, a PEG ratio of 5.81 and a beta of 0.67. The firm’s 50-day moving average price is $249.14 and its 200 day moving average price is $232.95. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00.

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

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were paid a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.84%. International Business Machines’s payout ratio is 104.21%.

Insiders Place Their Bets

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction that occurred on Monday, March 3rd. The stock was 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 $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 SEC, which is available at this link. 0.18% of the stock is owned by corporate insiders.

Institutional Trading of International Business Machines

Several hedge funds have recently made changes to their positions in the stock. Compass Financial Services Inc acquired a new stake in International Business Machines in the fourth quarter worth $26,000. Vision Financial Markets LLC bought a new position in shares of International Business Machines during the fourth quarter worth about $31,000. Avondale Wealth Management increased its holdings in shares of International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after acquiring an additional 56 shares during the period. Valued Wealth Advisors LLC lifted its position in International Business Machines by 134.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after purchasing an additional 90 shares during the last quarter. Finally, Rialto Wealth Management LLC acquired a new position in International Business Machines during the 4th quarter valued at about $35,000. 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.