International Business Machines (NYSE:IBM) Stock Price Down 1.7% – What’s Next?

Shares of International Business Machines Corporation (NYSE:IBM) dropped 1.7% during trading on Tuesday . The stock traded as low as $300.42 and last traded at $303.4350. Approximately 3,364,846 shares were traded during mid-day trading, a decline of 30% from the average daily volume of 4,794,810 shares. The stock had previously closed at $308.66.

Analysts Set New Price Targets

IBM has been the topic of a number of recent analyst reports. Weiss Ratings raised shares of International Business Machines from a “hold (c+)” rating to a “buy (b)” rating in a research report on Saturday, October 25th. Oppenheimer initiated coverage on shares of International Business Machines in a research report on Friday, November 21st. They set an “outperform” rating and a $360.00 target price on the stock. Jefferies Financial Group boosted their target price on International Business Machines from $280.00 to $305.00 and gave the stock a “hold” rating in a research note on Tuesday, October 21st. Stifel Nicolaus increased their price target on International Business Machines from $295.00 to $325.00 and gave the company a “buy” rating in a research report on Tuesday, December 9th. Finally, BMO Capital Markets lifted their price target on International Business Machines from $300.00 to $305.00 and gave the stock a “market perform” rating in a report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, International Business Machines has an average rating of “Moderate Buy” and a consensus price target of $293.38.

International Business Machines Trading Down 1.7%

The firm has a 50 day moving average of $299.86 and a 200 day moving average of $278.67. The firm has a market cap of $283.63 billion, a PE ratio of 36.30, a P/E/G ratio of 3.08 and a beta of 0.69. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 1.97.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 22nd. The technology company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.20. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.The firm had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.10 billion. During the same period in the previous year, the company posted $2.30 earnings per share. The business’s revenue was up 9.1% on a year-over-year basis. Equities analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th were issued a dividend of $1.68 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $6.72 annualized dividend and a yield of 2.2%. International Business Machines’s dividend payout ratio is 80.38%.

Institutional Trading of International Business Machines

Several hedge funds and other institutional investors have recently modified their holdings of IBM. Family CFO Inc purchased a new stake in shares of International Business Machines during the second quarter worth $25,000. Winnow Wealth LLC bought a new stake in shares of International Business Machines during the 2nd quarter valued at $27,000. Mountain Hill Investment Partners Corp. purchased a new stake in International Business Machines during the 3rd quarter worth about $28,000. SWAN Capital LLC purchased a new stake in International Business Machines during the 3rd quarter worth about $28,000. Finally, Silicon Valley Capital Partners boosted its stake in International Business Machines by 322.6% in the 1st quarter. Silicon Valley Capital Partners now owns 131 shares of the technology company’s stock worth $32,000 after purchasing an additional 100 shares during the period. Institutional investors own 58.96% of the company’s stock.

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.