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

International Business Machines Co. (NYSE:IBM - Get Free Report) was up 1.5% on Monday . The company traded as high as $248.49 and last traded at $247.44. Approximately 759,236 shares changed hands during trading, a decline of 80% from the average daily volume of 3,888,613 shares. The stock had previously closed at $243.87.

Wall Street Analysts Forecast Growth

IBM has been the subject of several research analyst reports. Bank of America lifted their target price on International Business Machines from $260.00 to $270.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. StockNews.com downgraded shares of International Business Machines from a "buy" rating to a "hold" rating in a report on Saturday, March 15th. Royal Bank of Canada restated an "outperform" rating and set a $250.00 target price on shares of International Business Machines in a research note on Monday, January 27th. Sanford C. Bernstein boosted their price target on International Business Machines from $210.00 to $215.00 and gave the company a "market perform" rating in a research note on Friday, January 3rd. Finally, Erste Group Bank raised International Business Machines from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $231.44.

Remove Ads

International Business Machines Price Performance

The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The firm has a market cap of $228.58 billion, a P/E ratio of 38.46, a P/E/G ratio of 5.81 and a beta of 0.74. The company has a fifty day moving average of $248.65 and a 200-day moving average of $230.90.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping 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%. On average, sell-side analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.71%. The ex-dividend date was Monday, February 10th. International Business Machines's dividend payout ratio (DPR) is 104.21%.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the sale, the senior vice president now owns 45,007 shares in the company, valued at $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 SEC, which is available at this hyperlink. 0.18% of the stock is currently owned by insiders.

Institutional Trading of International Business Machines

A number of hedge funds have recently bought and sold shares of IBM. Capital World Investors raised its holdings in International Business Machines by 413.5% in the 4th 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 in the last quarter. Norges Bank bought a new stake in shares of International Business Machines during the fourth quarter valued at approximately $1,236,176,000. Raymond James Financial Inc. bought a new position in International Business Machines in the fourth quarter worth $592,746,000. Holocene Advisors LP purchased a new position in International Business Machines during the third quarter valued at $573,306,000. Finally, Northern Trust Corp boosted its holdings in shares of International Business Machines by 18.6% during the 4th 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. Institutional investors own 58.96% of the company's stock.

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.