International Business Machines (NYSE:IBM) Trading Down 0.9% – Here’s What Happened

International Business Machines Co. (NYSE:IBM) dropped 0.9% on Monday . The stock traded as low as $248.47 and last traded at $248.42. Approximately 657,985 shares were traded during trading, a decline of 86% from the average daily volume of 4,735,934 shares. The stock had previously closed at $250.67.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on IBM shares. JPMorgan Chase & Co. increased their target price on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Jefferies Financial Group boosted their target price on shares of International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Oppenheimer began coverage on shares of International Business Machines in a research report on Tuesday. They issued an “outperform” rating and a $320.00 price target on the stock. UBS Group upped their price objective on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday, January 14th. Finally, Stifel Nicolaus lifted their target price on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus price target of $231.44.

International Business Machines Trading Up 0.5 %

The stock has a market cap of $236.58 billion, a P/E ratio of 39.92, a P/E/G ratio of 5.57 and a beta of 0.76. 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 stock’s fifty day moving average is $230.70 and its 200 day moving average is $218.22.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, January 29th. The technology company reported $3.92 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%. As a group, equities research analysts predict that International Business Machines Co. will post 10.75 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

Hedge Funds Weigh In On International Business Machines

Several hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of International Business Machines in the fourth quarter worth approximately $1,236,176,000. International Assets Investment Management LLC boosted its position in International Business Machines by 20,324.5% in 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. Raymond James Financial Inc. bought a new position in International Business Machines in the 4th quarter worth about $592,746,000. Holocene Advisors LP bought a new stake in shares of International Business Machines during the third quarter valued at approximately $573,306,000. Finally, Vanguard Group Inc. boosted its holdings in shares of International Business Machines by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock valued at $20,189,023,000 after purchasing an additional 1,539,888 shares during the period. 58.96% of the stock is currently owned by 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.