International Business Machines (NYSE:IBM) Trading Down 0.9% – Here’s Why

International Business Machines Co. (NYSE:IBM) dropped 0.9% during trading on Thursday . The stock traded as low as $230.65 and last traded at $231.60. Approximately 817,340 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 4,171,677 shares. The stock had previously closed at $233.67.

Analyst Ratings Changes

IBM has been the topic of several recent research reports. Bernstein Bank raised their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Bank of America raised their target price on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Morgan Stanley upped their price target on International Business Machines from $182.00 to $217.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, Jefferies Financial Group raised their price objective on International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $203.06.

International Business Machines Stock Performance

The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The firm’s fifty day moving average price is $212.19 and its 200-day moving average price is $189.15. The company has a market cap of $213.32 billion, a P/E ratio of 26.30, a P/E/G ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, beating the consensus estimate of $2.16 by $0.27. The firm had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.18 EPS. As a group, research analysts forecast that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.88%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Institutional Trading of International Business Machines

Several institutional investors have recently made changes to their positions in the business. Ellenbecker Investment Group boosted its holdings in International Business Machines by 2.3% during the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock valued at $453,000 after purchasing an additional 46 shares in the last quarter. Armbruster Capital Management Inc. grew its position in International Business Machines by 2.3% in the second quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company’s stock valued at $432,000 after acquiring an additional 56 shares during the period. Aspect Partners LLC raised its stake in International Business Machines by 11.2% during the third quarter. Aspect Partners LLC now owns 554 shares of the technology company’s stock worth $122,000 after acquiring an additional 56 shares in the last quarter. CVA Family Office LLC lifted its holdings in shares of International Business Machines by 3.3% during the second quarter. CVA Family Office LLC now owns 1,796 shares of the technology company’s stock valued at $311,000 after acquiring an additional 57 shares during the period. Finally, Mill Creek Capital Advisors LLC lifted its holdings in shares of International Business Machines by 5.1% during the second quarter. Mill Creek Capital Advisors LLC now owns 1,165 shares of the technology company’s stock valued at $201,000 after acquiring an additional 57 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

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.