International Business Machines (NYSE:IBM) Shares Down 0.8%

International Business Machines Co. (NYSE:IBMGet Free Report)’s share price fell 0.8% during mid-day trading on Friday . The company traded as low as $172.32 and last traded at $172.60. 1,648,775 shares traded hands during trading, a decline of 64% from the average session volume of 4,528,374 shares. The stock had previously closed at $173.92.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IBM. Bank of America boosted their price target on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. BMO Capital Markets lowered their target price on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating on the stock in a research report on Thursday, April 25th. Sanford C. Bernstein upped their target price on shares of International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research report on Thursday, March 7th. Jefferies Financial Group lowered their target price on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a research report on Tuesday, April 23rd. Finally, Stifel Nicolaus restated a “buy” rating and set a $190.00 target price on shares of International Business Machines in a research report on Thursday, May 16th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $181.29.

Read Our Latest Report on IBM

International Business Machines Stock Down 1.3 %

The company has a market cap of $157.64 billion, a PE ratio of 19.55, a P/E/G ratio of 4.21 and a beta of 0.72. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. The firm’s fifty day simple moving average is $171.11 and its 200-day simple moving average is $175.93.

International Business Machines (NYSE:IBMGet Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.09. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.36 earnings per share. As a group, equities research analysts expect that International Business Machines Co. will post 9.9 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were paid a dividend of $1.67 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.89%. International Business Machines’s dividend payout ratio is presently 75.65%.

Hedge Funds Weigh In On International Business Machines

Several institutional investors and hedge funds have recently modified their holdings of IBM. FPC Investment Advisory Inc. purchased a new position in International Business Machines during the first quarter worth approximately $26,000. Naples Money Management LLC bought a new position in International Business Machines during the 4th quarter valued at $28,000. ESL Trust Services LLC bought a new position in International Business Machines during the 1st quarter valued at $28,000. Creekmur Asset Management LLC bought a new position in International Business Machines during the 4th quarter valued at $29,000. Finally, Ables Iannone Moore & Associates Inc. bought a new position in International Business Machines during the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

About International Business Machines

(Get Free Report)

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.

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