International Business Machines (NYSE:IBM) Stock Price Down 1.1% – Here’s Why

International Business Machines Co. (NYSE:IBM) fell 1.1% during trading on Wednesday . The stock traded as low as $220.83 and last traded at $221.48. 622,303 shares were traded during trading, a decline of 76% from the average session volume of 2,632,072 shares. The stock had previously closed at $223.96.

Analyst Ratings Changes

Several analysts recently commented on IBM shares. BMO Capital Markets raised their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research note on Thursday, October 24th. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Morgan Stanley raised their price objective on International Business Machines from $208.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday, December 16th. The Goldman Sachs Group lifted their target price on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, Bernstein Bank raised their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $214.88.

International Business Machines Stock Performance

The stock has a market cap of $206.21 billion, a price-to-earnings ratio of 32.46, a P/E/G ratio of 5.18 and a beta of 0.74. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The stock’s 50-day moving average is $221.01 and its 200-day moving average is $208.49.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter last year, the firm posted $2.20 EPS. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, analysts expect that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.00%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.07% of the company’s stock.

Hedge Funds Weigh In On International Business Machines

Several institutional investors and hedge funds have recently made changes to their positions in IBM. Hazlett Burt & Watson Inc. grew its holdings in International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after acquiring an additional 116 shares in the last quarter. Hara Capital LLC bought a new stake in International Business Machines in the third quarter valued at about $29,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in International Business Machines during the second quarter valued at approximately $36,000. Modus Advisors LLC bought a new position in International Business Machines during the 4th quarter worth approximately $40,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of International Business Machines in the 3rd quarter worth approximately $43,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

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.