International Business Machines (NYSE:IBM) Trading Down 0% – What’s Next?

International Business Machines Co. (NYSE:IBM) shares were down 0% during mid-day trading on Thursday . The company traded as low as $218.87 and last traded at $219.79. Approximately 481,532 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 4,209,730 shares. The stock had previously closed at $219.83.

Wall Street Analyst Weigh In

Several brokerages recently commented on IBM. Stifel Nicolaus boosted their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Evercore ISI upped their price target on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. BMO Capital Markets lifted their price objective on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a report on Thursday, October 24th. Jefferies Financial Group upped their target price on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $210.65.

International Business Machines Price Performance

The company has a market capitalization of $205.87 billion, a price-to-earnings ratio of 32.41, a P/E/G ratio of 5.18 and a beta of 0.73. The company has a fifty day simple moving average of $220.54 and a two-hundred day simple moving average of $207.26. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.20 earnings per share. As a group, research analysts anticipate that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Announces Dividend

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

Insiders Place Their Bets

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is currently owned by insiders.

Hedge Funds Weigh In On International Business Machines

A number of large investors have recently modified their holdings of the company. International Assets Investment Management LLC raised its holdings in shares of International Business Machines by 20,324.5% during the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock valued at $600,373,000 after buying an additional 2,702,340 shares during the period. Holocene Advisors LP acquired a new position in shares of International Business Machines during the third quarter worth $573,306,000. State Street Corp boosted its stake in shares of International Business Machines by 2.2% in the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after purchasing an additional 1,200,803 shares during the period. Thrivent Financial for Lutherans increased its stake in International Business Machines by 306.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock worth $242,441,000 after buying an additional 1,056,759 shares during the period. Finally, Eagle Asset Management Inc. lifted its holdings in International Business Machines by 587.1% in the 3rd quarter. Eagle Asset Management Inc. now owns 628,213 shares of the technology company’s stock worth $134,262,000 after buying an additional 536,785 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

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.