International Business Machines (NYSE:IBM) Shares Down 2.1% - Here's What Happened

International Business Machines Co. (NYSE:IBM - Get Free Report) shares dropped 2.1% during mid-day trading on Friday . The stock traded as low as $218.47 and last traded at $218.58. Approximately 554,120 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 2,608,490 shares. The stock had previously closed at $223.18.

Wall Street Analyst Weigh In

Several analysts have commented on IBM shares. Sanford C. Bernstein raised their target price 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. Bernstein Bank boosted their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the company a "market perform" rating in a research report on Thursday, October 3rd. The Goldman Sachs Group upped their target price on shares of International Business Machines from $220.00 to $250.00 and gave the stock a "buy" rating in a research note on Monday, September 30th. Stifel Nicolaus lifted their price target on International Business Machines from $205.00 to $246.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Finally, StockNews.com cut International Business Machines from a "buy" rating to a "hold" rating in a research report on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, International Business Machines currently has an average rating of "Hold" and a consensus price target of $214.88.

International Business Machines Stock Performance

The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The stock's fifty day moving average is $221.92 and its two-hundred day moving average is $209.00. The firm has a market capitalization of $202.87 billion, a price-to-earnings ratio of 31.94, a P/E/G ratio of 5.18 and a beta of 0.74.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate 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 company 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 EPS. International Business Machines's revenue for the quarter was up 1.5% compared to the same quarter last year. On average, analysts predict that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were paid a dividend of $1.67 per share. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 3.04%. International Business Machines's dividend payout ratio is currently 97.23%.

Insider Buying and Selling

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now owns 25,390 shares of the company's stock, valued at approximately $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.07% of the stock is owned by insiders.

Institutional Trading of International Business Machines

Several institutional investors have recently added to or reduced their stakes in IBM. West Oak Capital LLC grew its position in International Business Machines by 11,273.2% during the fourth quarter. West Oak Capital LLC now owns 55,160 shares of the technology company's stock worth $12,126,000 after buying an additional 54,675 shares in the last quarter. Graypoint LLC lifted its position in shares of International Business Machines by 27.2% during the 4th quarter. Graypoint LLC now owns 12,459 shares of the technology company's stock valued at $2,739,000 after acquiring an additional 2,665 shares during the period. RMR Wealth Builders grew its holdings in shares of International Business Machines by 233.4% during the 4th quarter. RMR Wealth Builders now owns 8,089 shares of the technology company's stock worth $1,778,000 after purchasing an additional 5,663 shares in the last quarter. Lynch & Associates IN increased its position in shares of International Business Machines by 0.6% in the fourth quarter. Lynch & Associates IN now owns 48,259 shares of the technology company's stock worth $10,609,000 after purchasing an additional 278 shares during the period. Finally, Atlas Brown Inc. raised its stake in International Business Machines by 3.1% in the fourth quarter. Atlas Brown Inc. now owns 7,000 shares of the technology company's stock valued at $1,539,000 after purchasing an additional 212 shares in the last quarter. 58.96% of the stock is currently owned by 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.