International Business Machines (NYSE:IBM) Trading 0.3% Higher - Here's What Happened

International Business Machines Co. (NYSE:IBM - Get Free Report) shares rose 0.3% during mid-day trading on Friday . The company traded as high as $229.67 and last traded at $230.07. Approximately 1,545,151 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 4,268,827 shares. The stock had previously closed at $229.33.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on IBM shares. Royal Bank of Canada restated an "outperform" rating and issued a $276.00 price target on shares of International Business Machines in a research note on Monday, April 14th. Jefferies Financial Group restated a "hold" rating on shares of International Business Machines in a research report on Wednesday. JPMorgan Chase & Co. upped their target price on International Business Machines from $233.00 to $244.00 and gave the company a "neutral" rating in a research report on Thursday, January 30th. StockNews.com raised International Business Machines from a "hold" rating to a "buy" rating in a report on Thursday. Finally, Erste Group Bank upgraded International Business Machines from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, International Business Machines presently has an average rating of "Hold" and an average price target of $242.41.

International Business Machines Stock Up 0.6 %

The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The company has a market capitalization of $213.88 billion, a P/E ratio of 35.96, a PEG ratio of 5.81 and a beta of 0.67. The stock has a 50 day moving average price of $245.94 and a 200 day moving average price of $233.89.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The company had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. On average, research analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines's payout ratio is presently 104.21%.

Insider Buying and Selling at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the company's stock in a transaction on 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 completion of the sale, the senior vice president now owns 45,007 shares in the company, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.18% of the company's stock.

Hedge Funds Weigh In On International Business Machines

Institutional investors and hedge funds have recently bought and sold shares of the company. Compass Financial Services Inc purchased a new position in International Business Machines in the 4th quarter valued at approximately $26,000. Vision Financial Markets LLC purchased a new position in International Business Machines during the 4th quarter valued at about $31,000. Avondale Wealth Management increased its position in shares of International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company's stock valued at $34,000 after buying an additional 56 shares during the period. Valued Wealth Advisors LLC lifted its holdings in shares of International Business Machines by 134.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company's stock worth $35,000 after buying an additional 90 shares in the last quarter. Finally, Rialto Wealth Management LLC bought a new position in shares of International Business Machines in the fourth quarter valued at approximately $35,000. 58.96% of the stock is owned by institutional investors.

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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