International Business Machines (NYSE:IBM) Stock Price Down 0.1% - Here's What Happened

International Business Machines Co. (NYSE:IBM - Get Free Report) shares were down 0.1% during trading on Friday . The stock traded as low as $263.05 and last traded at $264.41. Approximately 974,063 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 4,593,033 shares. The stock had previously closed at $264.74.

Wall Street Analysts Forecast Growth

Several analysts have commented on IBM shares. Oppenheimer started coverage on International Business Machines in a report on Tuesday, February 11th. They issued an "outperform" rating and a $320.00 price target for the company. Jefferies Financial Group upped their target price on International Business Machines from $245.00 to $270.00 and gave the company a "hold" rating in a research report on Thursday, January 30th. BMO Capital Markets boosted their price target on International Business Machines from $260.00 to $280.00 and gave the company a "market perform" rating in a report on Thursday, January 30th. JPMorgan Chase & Co. upped their price objective on International Business Machines from $233.00 to $244.00 and gave the stock a "neutral" rating in a research note on Thursday, January 30th. Finally, Wedbush began coverage on International Business Machines in a research report on Monday, February 3rd. They set an "outperform" rating for the company. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $231.44.

International Business Machines Stock Down 1.1 %

The stock has a market capitalization of $242.05 billion, a price-to-earnings ratio of 40.84, a price-to-earnings-growth ratio of 5.81 and a beta of 0.76. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The firm has a 50-day moving average of $235.27 and a two-hundred day moving average of $221.81.

International Business Machines (NYSE:IBM - Get Free Report) last issued its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. As a group, sell-side analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors 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 2.55%. International Business Machines's payout ratio is 104.21%.

Institutional Trading of International Business Machines

A number of hedge funds have recently modified their holdings of IBM. Capital World Investors increased its holdings in International Business Machines by 413.5% during the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock valued at $2,634,577,000 after purchasing an additional 9,650,534 shares in the last quarter. Norges Bank acquired a new stake in shares of International Business Machines in the 4th quarter valued at $1,236,176,000. Raymond James Financial Inc. acquired a new stake in shares of International Business Machines in the 4th quarter valued at $592,746,000. Holocene Advisors LP bought a new position in shares of International Business Machines in the 3rd quarter worth $573,306,000. Finally, Northern Trust Corp boosted its position in shares of International Business Machines by 18.6% in the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock worth $2,384,275,000 after purchasing an additional 1,704,209 shares during the last quarter. 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.