International Business Machines (NYSE:IBM) Trading 0.8% Higher After Analyst Upgrade

International Business Machines Co. (NYSE:IBM - Get Free Report) shares shot up 0.8% during trading on Thursday after Bank of America raised their price target on the stock from $250.00 to $260.00. Bank of America currently has a buy rating on the stock. International Business Machines traded as high as $225.85 and last traded at $225.15. 600,635 shares were traded during mid-day trading, a decline of 82% from the average session volume of 3,357,243 shares. The stock had previously closed at $223.26.

A number of other equities analysts have also recently issued reports on the stock. BMO Capital Markets upped their price target on shares of International Business Machines from $235.00 to $260.00 and gave the stock a "market perform" rating in a research note on Thursday, October 24th. Morgan Stanley raised their price target on International Business Machines from $208.00 to $222.00 and gave the stock an "equal weight" rating in a research note on Monday, December 16th. Sanford C. Bernstein upped their price target on shares of International Business Machines from $210.00 to $215.00 and gave the company a "market perform" rating in a research report on Friday, January 3rd. Stifel Nicolaus raised their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Finally, DZ Bank cut shares of International Business Machines from a "buy" rating to a "hold" rating and set a $215.00 target price for the company. in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, International Business Machines has a consensus rating of "Hold" and a consensus target price of $220.73.

Insider Buying and Selling at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction dated 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 owns 25,390 shares in the company, valued at $5,463,928. This represents a 12.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.07% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Hazlett Burt & Watson Inc. grew its position in International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company's stock valued at $29,000 after purchasing an additional 116 shares in the last quarter. Hara Capital LLC acquired a new stake in International Business Machines in the 3rd quarter valued at approximately $29,000. Avondale Wealth Management increased its position in International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company's stock worth $34,000 after buying an additional 56 shares during the period. Valued Wealth Advisors LLC boosted its position in shares of International Business Machines by 134.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company's stock valued at $35,000 after acquiring an additional 90 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group bought a new position in shares of International Business Machines during the 2nd quarter worth about $36,000. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Price Performance

The firm has a market cap of $207.75 billion, a price-to-earnings ratio of 32.71, a price-to-earnings-growth ratio of 4.78 and a beta of 0.74. The stock's 50-day moving average price is $223.94 and its 200 day moving average price is $212.00. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating analysts' consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same period in the previous year, the business earned $2.20 earnings per share. The company's revenue for the quarter was up 1.5% compared to the same quarter last year. Equities research analysts predict that International Business Machines Co. will post 10.16 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date was Tuesday, November 12th. International Business Machines's dividend payout ratio (DPR) is 97.23%.

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.