International Business Machines (NYSE:IBM) Trading Up 3.2% – Still a Buy?

International Business Machines Corporation (NYSE:IBM) rose 3.2% during mid-day trading on Friday . The company traded as high as $299.89 and last traded at $299.09. Approximately 3,720,661 shares changed hands during trading, a decline of 26% from the average daily volume of 5,057,307 shares. The stock had previously closed at $289.89.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their price objective on International Business Machines from $312.00 to $317.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. Royal Bank Of Canada set a $361.00 price target on International Business Machines in a research note on Thursday, January 29th. Argus set a $360.00 price target on International Business Machines in a report on Friday, January 30th. UBS Group set a $317.00 price objective on shares of International Business Machines in a report on Thursday, January 29th. Finally, Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Friday, December 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $330.07.

International Business Machines Stock Performance

The stock has a market capitalization of $279.57 billion, a PE ratio of 26.82, a price-to-earnings-growth ratio of 2.90 and a beta of 0.69. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 1.67. The stock has a fifty day moving average of $302.29 and a 200-day moving average of $283.53.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, January 28th. The technology company reported $4.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.33 by $0.19. The company had revenue of $19.69 billion for the quarter, compared to analyst estimates of $19.23 billion. International Business Machines had a return on equity of 38.15% and a net margin of 15.69%.International Business Machines’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter last year, the company earned $3.92 EPS. Equities analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 10th will be paid a $1.68 dividend. The ex-dividend date is Tuesday, February 10th. This represents a $6.72 dividend on an annualized basis and a yield of 2.2%. International Business Machines’s payout ratio is currently 60.27%.

Insider Buying and Selling

In other news, Director David N. Farr acquired 1,000 shares of the company’s stock in a transaction on Friday, January 30th. The shares were bought at an average cost of $304.00 per share, with a total value of $304,000.00. Following the transaction, the director owned 9,258 shares in the company, valued at approximately $2,814,432. This trade represents a 12.11% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is owned by company insiders.

Hedge Funds Weigh In On International Business Machines

Several large investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in International Business Machines during the 2nd quarter worth $2,011,122,000. Capital World Investors raised its holdings in shares of International Business Machines by 13.9% in the third quarter. Capital World Investors now owns 17,045,156 shares of the technology company’s stock valued at $4,809,461,000 after buying an additional 2,077,506 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of International Business Machines by 2.1% during the second quarter. Vanguard Group Inc. now owns 95,051,475 shares of the technology company’s stock worth $28,019,274,000 after buying an additional 1,913,708 shares during the period. Laurel Wealth Advisors LLC raised its stake in International Business Machines by 27,928.2% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,903,116 shares of the technology company’s stock valued at $561,001,000 after acquiring an additional 1,896,326 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in International Business Machines by 39.6% during the 3rd quarter. First Trust Advisors LP now owns 3,052,880 shares of the technology company’s stock worth $861,401,000 after acquiring an additional 865,253 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.