International Business Machines (NYSE:IBM) Trading 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 $237.40 and last traded at $238.45. Approximately 4,626,569 shares were traded during mid-day trading, an increase of 10% from the average daily volume of 4,222,049 shares. The stock had previously closed at $238.57.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IBM. The Goldman Sachs Group reaffirmed a "buy" rating on shares of International Business Machines in a report on Wednesday, February 5th. JPMorgan Chase & Co. increased their price target on shares of International Business Machines from $233.00 to $244.00 and gave the company a "neutral" rating in a report on Thursday, January 30th. Oppenheimer started coverage on shares of International Business Machines in a report on Tuesday, February 11th. They set an "outperform" rating and a $320.00 price objective on the stock. Jefferies Financial Group reduced their target price on International Business Machines from $270.00 to $265.00 and set a "hold" rating on the stock in a research note on Monday, March 31st. Finally, Wedbush started coverage on International Business Machines in a research report on Monday, February 3rd. They set an "outperform" rating for the company. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $232.75.

International Business Machines Stock Up 2.1 %

The firm has a 50 day moving average price of $247.23 and a two-hundred day moving average price of $233.74. The firm has a market capitalization of $223.73 billion, a price-to-earnings ratio of 37.64, a price-to-earnings-growth ratio of 5.81 and a beta of 0.67. 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 released its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. On average, equities analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.77%. The ex-dividend date was Monday, February 10th. International Business Machines's payout ratio is 104.21%.

Insider Buying and Selling at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the sale, the senior vice president now directly owns 45,007 shares in the company, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On International Business Machines

Several institutional investors and hedge funds have recently made changes to their positions in IBM. JBR Co Financial Management Inc grew its holdings in International Business Machines by 0.6% during the 4th quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company's stock worth $1,405,000 after acquiring an additional 40 shares in the last quarter. Wealth Dimensions Group Ltd. grew its stake in International Business Machines by 1.0% in the fourth quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company's stock worth $873,000 after purchasing an additional 40 shares in the last quarter. Pallas Capital Advisors LLC raised its stake in International Business Machines by 0.9% during the first quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company's stock valued at $1,195,000 after buying an additional 42 shares in the last quarter. Schechter Investment Advisors LLC lifted its holdings in 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 during the last quarter. Finally, Titleist Asset Management LLC grew its position in shares of International Business Machines by 3.1% in the 4th quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company's stock worth $315,000 after acquiring an additional 43 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other 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.