International Business Machines (NYSE:IBM) Trading 0.6% Higher – What’s Next?

International Business Machines Co. (NYSE:IBM)’s stock price shot up 0.6% on Monday . The company traded as high as $224.68 and last traded at $224.33. Approximately 1,099,835 shares were traded during mid-day trading, a decline of 74% from the average session volume of 4,223,939 shares. The stock had previously closed at $222.97.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of recent research reports. BMO Capital Markets increased their price target on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. Bank of America increased their target price on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research note on Thursday, October 24th. UBS Group raised their price objective on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. Finally, Stifel Nicolaus boosted their target price on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, International Business Machines has a consensus rating of “Hold” and a consensus price target of $208.12.

International Business Machines Stock Up 1.5 %

The company has a fifty day simple moving average of $219.45 and a 200-day simple moving average of $195.57. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The firm has a market cap of $209.20 billion, a P/E ratio of 32.65, a price-to-earnings-growth ratio of 5.01 and a beta of 0.71.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The company had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.20 EPS. On average, equities analysts anticipate that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $1.67 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 2.95%. International Business Machines’s dividend payout ratio is presently 97.23%.

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.07% of the company’s stock.

Institutional Trading of International Business Machines

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Optimist Retirement Group LLC boosted its holdings in shares of International Business Machines by 0.6% during the 3rd quarter. Optimist Retirement Group LLC now owns 12,125 shares of the technology company’s stock valued at $2,681,000 after purchasing an additional 72 shares during the last quarter. Blankinship & Foster LLC lifted its position in shares of International Business Machines by 5,903.1% in the third quarter. Blankinship & Foster LLC now owns 77,980 shares of the technology company’s stock worth $17,240,000 after buying an additional 76,681 shares in the last quarter. Destination Wealth Management boosted its stake in International Business Machines by 10.7% during the third quarter. Destination Wealth Management now owns 2,299 shares of the technology company’s stock valued at $508,000 after buying an additional 222 shares during the last quarter. Wilmington Savings Fund Society FSB grew its holdings in International Business Machines by 333.4% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 92,363 shares of the technology company’s stock valued at $20,420,000 after buying an additional 71,051 shares in the last quarter. Finally, Arvest Bank Trust Division bought a new stake in International Business Machines in the 3rd quarter worth approximately $3,254,000. 58.96% of the stock is currently owned by 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.