International Business Machines (NYSE:IBM) Stock Price Up 0.8% Following Analyst Upgrade

Shares of International Business Machines Co. (NYSE:IBM - Get Free Report) shot up 0.8% during mid-day trading on Wednesday after UBS Group raised their price target on the stock from $150.00 to $160.00. UBS Group currently has a sell rating on the stock. International Business Machines traded as high as $221.68 and last traded at $219.51. 562,852 shares were traded during trading, a decline of 81% from the average session volume of 2,943,095 shares. The stock had previously closed at $217.75.

Several other brokerages have also weighed in on IBM. Stifel Nicolaus upped their target price on shares of International Business Machines from $205.00 to $246.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. The Goldman Sachs Group upped their price target on International Business Machines from $220.00 to $250.00 and gave the stock a "buy" rating in a report on Monday, September 30th. BMO Capital Markets lifted their price objective on International Business Machines from $235.00 to $260.00 and gave the stock a "market perform" rating in a report on Thursday, October 24th. Bank of America upped their target price on International Business Machines from $209.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Finally, Sanford C. Bernstein lifted their price target on International Business Machines from $210.00 to $215.00 and gave the stock a "market perform" rating in a research note on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $215.81.

Insider Activity at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company's stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 25,390 shares in the company, 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 SEC, which can be accessed through the SEC website. Insiders own 0.07% of the company's stock.

Institutional Trading of International Business Machines

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. raised its stake in International Business Machines by 12.2% during the second quarter. Brown Brothers Harriman & Co. now owns 43,394 shares of the technology company's stock worth $7,505,000 after purchasing an additional 4,705 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of International Business Machines by 13.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 77,189 shares of the technology company's stock worth $13,350,000 after buying an additional 9,155 shares during the period. Mesirow Financial Investment Management Inc. boosted its holdings in International Business Machines by 4.0% in the second quarter. Mesirow Financial Investment Management Inc. now owns 24,331 shares of the technology company's stock valued at $4,210,000 after acquiring an additional 931 shares during the last quarter. One Capital Management LLC grew its position in International Business Machines by 44.7% during the second quarter. One Capital Management LLC now owns 2,905 shares of the technology company's stock valued at $502,000 after acquiring an additional 898 shares during the period. Finally, Citizens Financial Group Inc. RI increased its stake in International Business Machines by 12.5% during the second quarter. Citizens Financial Group Inc. RI now owns 14,513 shares of the technology company's stock worth $2,510,000 after acquiring an additional 1,612 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

International Business Machines Trading Up 0.6 %

The company has a market capitalization of $202.63 billion, a PE ratio of 31.90, a P/E/G ratio of 5.18 and a beta of 0.74. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The business has a fifty day moving average price of $222.34 and a 200 day moving average price of $210.16.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating 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 firm had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same quarter last year, the firm posted $2.20 earnings per share. International Business Machines's revenue for the quarter was up 1.5% compared to the same quarter last year. Analysts expect that International Business Machines Co. will post 10.12 EPS 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. Investors of record on Tuesday, November 12th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 3.05%. 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.

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