International Business Machines (NYSE:IBM) Reaches New 52-Week High – Here’s What Happened

Shares of International Business Machines Co. (NYSE:IBM) hit a new 52-week high during trading on Wednesday . The stock traded as high as $265.25 and last traded at $264.30, with a volume of 6075190 shares changing hands. The stock had previously closed at $260.73.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. BMO Capital Markets upped their price objective on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Morgan Stanley boosted their target price on International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research note on Monday, January 27th. Sanford C. Bernstein lifted their target price on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, International Business Machines currently has an average rating of “Hold” and a consensus target price of $225.53.

International Business Machines Trading Down 3.8 %

The firm’s 50-day moving average price is $228.73 and its 200-day moving average price is $216.19. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The company has a market cap of $234.21 billion, a P/E ratio of 39.52, a price-to-earnings-growth ratio of 5.63 and a beta of 0.76.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. As a group, equities research analysts expect that International Business Machines Co. will post 10.73 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be paid a $1.67 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.64%. International Business Machines’s dividend payout ratio is currently 104.21%.

Institutional Investors Weigh In On International Business Machines

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Brookstone Capital Management grew its position in International Business Machines by 1.3% during the third quarter. Brookstone Capital Management now owns 16,548 shares of the technology company’s stock valued at $3,658,000 after acquiring an additional 210 shares during the last quarter. CWM LLC lifted its stake in International Business Machines by 5.6% in the third quarter. CWM LLC now owns 126,654 shares of the technology company’s stock worth $28,001,000 after acquiring an additional 6,712 shares during the period. Abner Herrman & Brock LLC boosted its stake in shares of International Business Machines by 1.3% during the 3rd quarter. Abner Herrman & Brock LLC now owns 144,568 shares of the technology company’s stock valued at $31,961,000 after purchasing an additional 1,862 shares in the last quarter. Marcum Wealth LLC grew its holdings in shares of International Business Machines by 11.8% during the 3rd quarter. Marcum Wealth LLC now owns 10,075 shares of the technology company’s stock worth $2,227,000 after acquiring an additional 1,062 shares during the period. Finally, Wedmont Private Capital raised its position in shares of International Business Machines by 6.7% in the 3rd quarter. Wedmont Private Capital now owns 10,354 shares of the technology company’s stock worth $2,352,000 after acquiring an additional 647 shares in the last quarter. 58.96% of the stock is 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.