International Business Machines (NYSE:IBM) Reaches New 12-Month High After Earnings Beat

International Business Machines Co. (NYSE:IBM - Get Free Report)'s share price hit a new 52-week high on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $249.35 and last traded at $247.59, with a volume of 170166 shares trading hands. The stock had previously closed at $228.63.

The technology company reported $3.92 earnings per share for the quarter, topping analysts' consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be paid a dividend of $1.67 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.59%. International Business Machines's payout ratio is 97.23%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. BMO Capital Markets increased their price target on shares of International Business Machines from $260.00 to $280.00 and gave the stock a "market perform" rating in a research report on Thursday. StockNews.com cut International Business Machines from a "buy" rating to a "hold" rating in a research report on Wednesday, November 20th. Royal Bank of Canada reiterated an "outperform" rating and set a $250.00 price target on shares of International Business Machines in a research report on Monday. JPMorgan Chase & Co. upped their target price on shares of International Business Machines from $233.00 to $244.00 and gave the stock a "neutral" rating in a research note on Thursday. Finally, Morgan Stanley boosted their price target on International Business Machines from $217.00 to $228.00 and gave the stock an "equal weight" rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, International Business Machines presently has a consensus rating of "Hold" and a consensus price target of $225.53.

Insider Transactions at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their position. The sale 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 Inflows and Outflows

A number of hedge funds have recently made changes to their positions in IBM. Advisory Alpha LLC boosted its position in International Business Machines by 0.8% during the 2nd quarter. Advisory Alpha LLC now owns 7,748 shares of the technology company's stock valued at $1,340,000 after buying an additional 65 shares during the period. Farmers National Bank raised its position in International Business Machines by 11.0% in the 2nd quarter. Farmers National Bank now owns 22,715 shares of the technology company's stock worth $3,929,000 after buying an additional 2,247 shares during the last quarter. Creekside Partners purchased a new stake in International Business Machines during the 2nd quarter valued at $584,000. Sanctuary Advisors LLC bought a new stake in International Business Machines during the second quarter valued at about $40,068,000. Finally, Lazari Capital Management Inc. boosted its position in shares of International Business Machines by 9.7% in the second quarter. Lazari Capital Management Inc. now owns 1,973 shares of the technology company's stock worth $341,000 after purchasing an additional 174 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Performance

The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The company has a market capitalization of $238.76 billion, a P/E ratio of 37.59, a P/E/G ratio of 4.78 and a beta of 0.74. The business's fifty day simple moving average is $225.24 and its 200-day simple moving average is $213.55.

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.