International Business Machines (NYSE:IBM) Stock Price Up 1.2% - Time to Buy?

Shares of International Business Machines Co. (NYSE:IBM - Get Free Report) traded up 1.2% during trading on Tuesday . The company traded as high as $233.05 and last traded at $228.44. 1,236,116 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 4,153,665 shares. The stock had previously closed at $225.78.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective 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. Bank of America upped their price objective on International Business Machines from $260.00 to $270.00 and gave the company a "buy" rating in a report on Thursday, January 30th. Oppenheimer began coverage on shares of International Business Machines in a research note on Tuesday, February 11th. They set an "outperform" rating and a $320.00 target price for the company. The Goldman Sachs Group restated a "buy" rating on shares of International Business Machines in a research note on Wednesday, February 5th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $250.00 price objective on shares of International Business Machines in a research note on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $231.13.

Remove Ads

International Business Machines Stock Up 2.6 %

The firm has a market cap of $218.37 billion, a PE ratio of 36.74, a P/E/G ratio of 5.81 and a beta of 0.67. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The firm's 50 day moving average is $249.14 and its 200-day moving average is $232.95.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data 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, equities research analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were issued a $1.67 dividend. The ex-dividend date was Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.84%. International Business Machines's dividend payout ratio is currently 104.21%.

Insider Buying and Selling

In related news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction dated Monday, March 3rd. The stock was 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. This trade represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On International Business Machines

Several large investors have recently added to or reduced their stakes in the company. Capital World Investors lifted its holdings in International Business Machines by 413.5% in the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock worth $2,634,577,000 after purchasing an additional 9,650,534 shares during the period. Norges Bank acquired a new stake in International Business Machines during the 4th quarter valued at $1,236,176,000. GAMMA Investing LLC lifted its holdings in shares of International Business Machines by 29,564.2% in the first quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock valued at $10,940,520,000 after purchasing an additional 4,384,958 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of International Business Machines in the fourth quarter worth $592,746,000. Finally, Northern Trust Corp grew its holdings in shares of International Business Machines by 18.6% during the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock valued at $2,384,275,000 after buying an additional 1,704,209 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.