International Business Machines (NYSE:IBM) Trading Up 1.5% - Here's What Happened

International Business Machines Co. (NYSE:IBM - Get Free Report) was up 1.5% on Friday . The company traded as high as $253.31 and last traded at $252.43. Approximately 1,051,308 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 3,883,203 shares. The stock had previously closed at $248.69.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on IBM shares. JPMorgan Chase & Co. boosted their target price 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. Sanford C. Bernstein lifted their price target on shares of International Business Machines from $210.00 to $215.00 and gave the stock a "market perform" rating in a report on Friday, January 3rd. UBS Group lifted their price target on shares of International Business Machines from $150.00 to $160.00 and gave the stock a "sell" rating in a report on Tuesday, January 14th. Bank of America lifted their price target 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. Finally, Oppenheimer started coverage on shares of International Business Machines in a report on Tuesday, February 11th. They issued an "outperform" rating and a $320.00 price target on the stock. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $231.44.

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International Business Machines Price Performance

The business's fifty day simple moving average is $242.03 and its 200-day simple moving average is $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. The firm has a market cap of $238.24 billion, a P/E ratio of 40.08, a PEG ratio of 5.81 and a beta of 0.74.

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

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be given a dividend of $1.67 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.60%. International Business Machines's dividend payout ratio (DPR) is currently 104.21%.

Insider Activity

In related news, SVP Robert David Thomas sold 26,543 shares of the company's stock in a transaction on 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 completion of the transaction, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. The trade was 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 accessible through the SEC website. Company insiders own 0.07% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Compass Financial Services Inc purchased a new position in International Business Machines in the fourth quarter worth $26,000. Vision Financial Markets LLC purchased a new position in International Business Machines in the fourth quarter worth $31,000. Avondale Wealth Management grew its position in International Business Machines by 56.0% in the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company's stock worth $34,000 after acquiring an additional 56 shares in the last quarter. Valued Wealth Advisors LLC grew its position in International Business Machines by 134.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company's stock worth $35,000 after acquiring an additional 90 shares in the last quarter. Finally, Rialto Wealth Management LLC purchased a new position in International Business Machines in the fourth quarter worth $35,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

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.