International Business Machines (NYSE:IBM) Reaches New 1-Year High - Here's What Happened

International Business Machines Co. (NYSE:IBM - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $266.45 and last traded at $261.71, with a volume of 814280 shares trading hands. The stock had previously closed at $261.54.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Bank of America increased their target price on shares of International Business Machines from $260.00 to $270.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. JPMorgan Chase & Co. raised their price objective on shares of International Business Machines from $233.00 to $244.00 and gave the company a "neutral" rating in a research report on Thursday, January 30th. StockNews.com raised shares of International Business Machines from a "hold" rating to a "buy" rating in a report on Friday. Morgan Stanley increased their price target on International Business Machines from $217.00 to $228.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 30th. Finally, Oppenheimer started coverage on International Business Machines in a research report on Tuesday, February 11th. They issued an "outperform" rating and a $320.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, International Business Machines has a consensus rating of "Hold" and an average target price of $231.44.

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International Business Machines Stock Down 3.1 %

The stock has a market capitalization of $230.92 billion, a P/E ratio of 38.85, a P/E/G ratio of 5.81 and a beta of 0.74. The business has a 50-day moving average price of $242.03 and a 200 day moving average price of $227.05. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM - Get Free Report) last announced its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping analysts' consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. On average, equities analysts expect that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were issued a $1.67 dividend. The ex-dividend date was Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.68%. International Business Machines's payout ratio is 104.21%.

Insider Activity at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the transaction, the senior vice president now owns 45,007 shares of the company's stock, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.07% of the stock is owned by company insiders.

Hedge Funds Weigh In On International Business Machines

Hedge funds have recently added to or reduced their stakes in the stock. JBR Co Financial Management Inc boosted its holdings in shares of International Business Machines by 0.6% in the fourth quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company's stock valued at $1,405,000 after purchasing an additional 40 shares during the period. Wealth Dimensions Group Ltd. lifted its holdings in shares of International Business Machines by 1.0% in the 4th quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company's stock worth $873,000 after buying an additional 40 shares during the period. Schechter Investment Advisors LLC grew its position in shares of International Business Machines by 0.7% during the 4th quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company's stock worth $1,396,000 after buying an additional 43 shares in the last quarter. Titleist Asset Management LLC increased its stake in shares of International Business Machines by 3.1% during the fourth quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company's stock valued at $315,000 after buying an additional 43 shares during the period. Finally, Callan Capital LLC raised its holdings in shares of International Business Machines by 2.4% in the fourth quarter. Callan Capital LLC now owns 1,870 shares of the technology company's stock valued at $411,000 after acquiring an additional 44 shares in the last quarter. 58.96% of the stock is currently owned by 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.