International Business Machines (NYSE:IBM) Trading Down 0.6%

Shares of International Business Machines Co. (NYSE:IBM) dropped 0.6% on Thursday . The company traded as low as $162.62 and last traded at $163.44. Approximately 993,653 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 4,962,340 shares. The stock had previously closed at $164.43.

Wall Street Analyst Weigh In

IBM has been the topic of a number of recent research reports. Wedbush increased their target price on International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Morgan Stanley reduced their price target on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Royal Bank of Canada upped their price target on International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Evercore upgraded International Business Machines from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $165.00 to $200.00 in a research report on Friday, January 19th. Finally, BNP Paribas began coverage on International Business Machines in a research report on Thursday. They issued an “underperform” rating and a $145.00 price target for the company. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, International Business Machines has a consensus rating of “Hold” and an average price target of $181.29.

International Business Machines Stock Performance

The business has a 50 day moving average of $186.15 and a 200 day moving average of $170.82. The company has a market capitalization of $152.22 billion, a P/E ratio of 18.77, a price-to-earnings-growth ratio of 4.05 and a beta of 0.74. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The firm’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.36 earnings per share. On average, sell-side analysts predict that International Business Machines Co. will post 9.92 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be paid a $1.67 dividend. The ex-dividend date is Thursday, May 9th. This represents a $6.68 annualized dividend and a dividend yield of 4.03%. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio is currently 75.20%.

Institutional Trading of International Business Machines

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Naples Money Management LLC purchased a new stake in International Business Machines in the fourth quarter worth $28,000. Creekmur Asset Management LLC bought a new stake in International Business Machines during the 4th quarter valued at about $29,000. Ables Iannone Moore & Associates Inc. purchased a new stake in International Business Machines in the 4th quarter valued at about $31,000. Financial Synergies Wealth Advisors Inc. grew its stake in International Business Machines by 164.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after acquiring an additional 123 shares in the last quarter. Finally, American Capital Advisory LLC increased its position in shares of International Business Machines by 75.0% during the first quarter. American Capital Advisory LLC now owns 203 shares of the technology company’s stock worth $39,000 after acquiring an additional 87 shares during the period. 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.