International Business Machines (NYSE:IBM) Shares Down 2.3% – Here’s Why

International Business Machines Corporation (NYSE:IBM) was down 2.3% during mid-day trading on Tuesday . The stock traded as low as $289.92 and last traded at $290.2350. Approximately 4,845,587 shares traded hands during mid-day trading, a decline of 1% from the average daily volume of 4,903,906 shares. The stock had previously closed at $297.17.

Analysts Set New Price Targets

Several research firms have weighed in on IBM. UBS Group upped their price objective on shares of International Business Machines from $200.00 to $210.00 and gave the stock a “sell” rating in a report on Thursday, October 23rd. Sanford C. Bernstein began coverage on shares of International Business Machines in a report on Monday, September 15th. They issued a “market perform” rating and a $280.00 target price on the stock. Bank of America raised their price target on shares of International Business Machines from $310.00 to $315.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Royal Bank Of Canada decreased their price objective on International Business Machines from $315.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday, October 23rd. Finally, BMO Capital Markets increased their price objective on International Business Machines from $300.00 to $305.00 and gave the stock a “market perform” rating in a research note on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $288.00.

International Business Machines Trading Down 2.3%

The company has a debt-to-equity ratio of 1.97, a current ratio of 0.93 and a quick ratio of 0.89. The firm’s fifty day moving average is $286.75 and its two-hundred day moving average is $272.19. The firm has a market capitalization of $271.29 billion, a PE ratio of 34.72, a PEG ratio of 4.33 and a beta of 0.71.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 22nd. The technology company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.45 by $0.20. International Business Machines had a net margin of 12.09% and a return on equity of 37.76%. The firm had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.10 billion. During the same quarter last year, the business posted $2.30 EPS. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. On average, equities analysts predict that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Monday, November 10th will be issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Monday, November 10th. International Business Machines’s dividend payout ratio (DPR) is 80.38%.

Institutional Investors Weigh In On International Business Machines

Large investors have recently made changes to their positions in the business. CFS Investment Advisory Services LLC increased its holdings in International Business Machines by 0.4% during the third quarter. CFS Investment Advisory Services LLC now owns 9,359 shares of the technology company’s stock worth $2,878,000 after buying an additional 34 shares during the last quarter. KPP Advisory Services LLC grew its position in shares of International Business Machines by 1.7% during the 3rd quarter. KPP Advisory Services LLC now owns 2,069 shares of the technology company’s stock valued at $584,000 after acquiring an additional 34 shares during the period. Marco Investment Management LLC increased its stake in shares of International Business Machines by 0.3% during the 3rd quarter. Marco Investment Management LLC now owns 10,774 shares of the technology company’s stock worth $3,040,000 after purchasing an additional 34 shares during the last quarter. MA Private Wealth raised its holdings in shares of International Business Machines by 1.5% in the 3rd quarter. MA Private Wealth now owns 2,242 shares of the technology company’s stock worth $633,000 after purchasing an additional 34 shares during the period. Finally, Altman Advisors Inc. lifted its stake in International Business Machines by 0.3% in the third quarter. Altman Advisors Inc. now owns 9,929 shares of the technology company’s stock valued at $2,802,000 after purchasing an additional 34 shares during the last quarter. 58.96% of the stock is 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.