International Business Machines (NYSE:IBM) Stock Price Down 2.4% – Time to Sell?

International Business Machines Co. (NYSE:IBM)’s stock price dropped 2.4% on Monday . The company traded as low as $214.50 and last traded at $221.93. Approximately 2,510,739 shares were traded during mid-day trading, a decline of 39% from the average daily volume of 4,145,162 shares. The stock had previously closed at $227.48.

Analysts Set New Price Targets

A number of research firms have commented on IBM. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Saturday, March 15th. Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Morgan Stanley upped their target price on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Sanford C. Bernstein lifted their price target 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. Finally, BMO Capital Markets upped their price objective on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and a consensus target price of $231.13.

International Business Machines Price Performance

The stock’s 50 day simple moving average is $251.49 and its 200-day simple moving average is $232.74. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The firm has a market cap of $209.13 billion, a price-to-earnings ratio of 35.19, a price-to-earnings-growth ratio of 5.81 and a beta of 0.67.

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

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a $1.67 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.96%. International Business Machines’s dividend payout ratio is currently 104.21%.

Insider Buying and Selling

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the sale, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On International Business Machines

A number of large investors have recently bought and sold shares of the business. O Connor Financial Group LLC purchased a new stake in shares of International Business Machines in the first quarter valued at approximately $204,000. GAMMA Investing LLC increased its holdings in International Business Machines by 29,564.2% in the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company’s stock worth $10,940,520,000 after acquiring an additional 4,384,958 shares in the last quarter. AdvisorNet Financial Inc raised its position in International Business Machines by 3.5% during the first quarter. AdvisorNet Financial Inc now owns 6,399 shares of the technology company’s stock worth $1,591,000 after acquiring an additional 218 shares during the period. Quent Capital LLC lifted its holdings in International Business Machines by 8.7% during the first quarter. Quent Capital LLC now owns 4,109 shares of the technology company’s stock valued at $1,022,000 after purchasing an additional 330 shares in the last quarter. Finally, Agate Pass Investment Management LLC grew its position in shares of International Business Machines by 72.6% in the first quarter. Agate Pass Investment Management LLC now owns 7,393 shares of the technology company’s stock valued at $1,838,000 after purchasing an additional 3,110 shares during the period. Institutional investors and hedge funds 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.