International Business Machines (NYSE:IBM) Stock Price Up 0.4% - Here's Why

International Business Machines Co. (NYSE:IBM - Get Free Report) rose 0.4% during trading on Friday . The company traded as high as $225.06 and last traded at $224.80. Approximately 1,228,610 shares were traded during trading, a decline of 71% from the average daily volume of 4,210,837 shares. The stock had previously closed at $223.92.

Analysts Set New Price Targets

Several research firms have weighed in on IBM. Stifel Nicolaus lifted their target price 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. The Goldman Sachs Group boosted their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the company a "buy" rating in a research report on Monday, September 30th. Jefferies Financial Group increased their target price on shares of International Business Machines from $200.00 to $245.00 and gave the stock a "hold" rating in a research report on Monday, October 21st. StockNews.com cut shares of International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday, November 20th. Finally, DZ Bank cut International Business Machines from a "buy" rating to a "hold" rating and set a $215.00 price objective for the company. in a research report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $208.94.

International Business Machines Trading Down 0.3 %

The company's fifty day moving average is $222.05 and its 200-day moving average is $203.56. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The firm has a market capitalization of $206.53 billion, a P/E ratio of 32.51, a P/E/G ratio of 5.17 and a beta of 0.73.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (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 company had revenue of $14.97 billion during the quarter, compared to analysts' expectations of $15.08 billion. During the same period in the prior year, the company earned $2.20 earnings per share. The business's quarterly revenue was up 1.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were issued a dividend of $1.67 per share. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.99%. International Business Machines's dividend payout ratio (DPR) is presently 97.23%.

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.07% of the stock is owned by company insiders.

Hedge Funds Weigh In On International Business Machines

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of International Business Machines by 2.2% during the third quarter. State Street Corp now owns 55,671,883 shares of the technology company's stock valued at $12,307,940,000 after purchasing an additional 1,200,803 shares during the period. Legal & General Group Plc lifted its holdings in shares of International Business Machines by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company's stock worth $1,467,974,000 after acquiring an additional 330,694 shares during the period. Ameriprise Financial Inc. boosted its position in shares of International Business Machines by 6.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company's stock valued at $1,274,074,000 after acquiring an additional 444,698 shares in the last quarter. FMR LLC increased its stake in International Business Machines by 6.0% in the third quarter. FMR LLC now owns 5,195,933 shares of the technology company's stock valued at $1,148,717,000 after acquiring an additional 294,276 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in International Business Machines by 6.8% in the second quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company's stock worth $829,431,000 after purchasing an additional 304,390 shares in the last quarter. 58.96% of the stock is currently owned by 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.