International Business Machines (NYSE:IBM) Trading 0% Higher - Here's What Happened

International Business Machines Co. (NYSE:IBM - Get Free Report)'s share price traded up 0% during mid-day trading on Monday . The stock traded as high as $235.92 and last traded at $232.48. 925,053 shares were traded during trading, a decline of 78% from the average session volume of 4,206,732 shares. The stock had previously closed at $232.41.

Wall Street Analysts Forecast Growth

IBM has been the topic of several recent research reports. Morgan Stanley reduced their price objective on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research report on Thursday. The Goldman Sachs Group reissued a "buy" rating on shares of International Business Machines in a research note on Wednesday, February 5th. Oppenheimer initiated coverage on International Business Machines in a research report on Tuesday, February 11th. They set an "outperform" rating and a $320.00 price target for the company. KGI Securities set a $242.00 target price on International Business Machines and gave the company a "hold" rating in a research note on Thursday. Finally, Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $242.41.

International Business Machines Trading Up 1.2 %

The stock has a market cap of $218.11 billion, a PE ratio of 36.68, a PEG ratio of 5.81 and a beta of 0.67. The stock's fifty day moving average price is $245.34 and its 200 day moving average price is $233.92. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.42 by $0.18. The company had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. International Business Machines's revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the company earned $1.68 EPS. On average, sell-side analysts forecast that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given 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 payout ratio is 104.21%.

Insider Activity

In other 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 transaction of $6,715,644.43. Following the transaction, the senior vice president now directly owns 45,007 shares of the company's stock, valued at $11,387,221.07. The trade was a 37.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.18% of the company's stock.

Hedge Funds Weigh In On International Business Machines

Hedge funds have recently modified their holdings of the company. JBR Co Financial Management Inc lifted its position in shares of International Business Machines by 0.6% in the fourth quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company's stock valued at $1,405,000 after acquiring an additional 40 shares in the last quarter. Wealth Dimensions Group Ltd. grew its holdings in International Business Machines by 1.0% during the 4th quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company's stock valued at $873,000 after buying an additional 40 shares in the last quarter. Pallas Capital Advisors LLC raised its position in shares of International Business Machines by 0.9% during the first quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company's stock valued at $1,195,000 after buying an additional 42 shares during the last quarter. Schechter Investment Advisors LLC lifted its holdings in shares of International Business Machines by 0.7% in the fourth quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company's stock worth $1,396,000 after buying an additional 43 shares in the last quarter. Finally, Titleist Asset Management LLC increased its holdings in International Business Machines by 3.1% in the 4th quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company's stock valued at $315,000 after acquiring an additional 43 shares during 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.

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