International Business Machines (NYSE:IBM) Stock Price Up 0.4% – Here’s Why

International Business Machines Co. (NYSE:IBM)’s share price shot up 0.4% during mid-day trading on Tuesday . The company traded as high as $241.14 and last traded at $240.03. 458,779 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 4,200,036 shares. The stock had previously closed at $239.06.

Analyst Ratings Changes

IBM has been the subject of several recent research reports. Jefferies Financial Group lowered their price objective on International Business Machines from $270.00 to $265.00 and set a “hold” rating for the company in a research note on Monday, March 31st. Oppenheimer started coverage on shares of International Business Machines in a report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price target for the company. BMO Capital Markets boosted their price target 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. Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Finally, UBS Group lifted their target price 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. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $232.75.

International Business Machines Stock Down 0.8 %

The firm has a market capitalization of $221.50 billion, a price-to-earnings ratio of 37.27, a P/E/G ratio of 5.81 and a beta of 0.67. The company’s 50 day moving average price is $248.15 and its 200 day moving average price is $233.24. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. As a group, research analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the transaction, the senior vice president now directly owns 45,007 shares in the company, valued at $11,387,221.07. This represents a 37.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On International Business Machines

Hedge funds have recently made changes to their positions in the business. Compass Financial Services Inc purchased a new stake in shares of International Business Machines in the 4th quarter valued at approximately $26,000. Vision Financial Markets LLC bought a new position in International Business Machines during the fourth quarter valued at about $31,000. Avondale Wealth Management boosted its position in shares of International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after acquiring an additional 56 shares in the last quarter. Valued Wealth Advisors LLC lifted its holdings in shares of International Business Machines by 134.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after acquiring an additional 90 shares during the period. Finally, Rialto Wealth Management LLC acquired a new position in shares of International Business Machines in the 4th quarter worth approximately $35,000. Institutional investors 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.