International Business Machines (NYSE:IBM) Shares Up 0.8% - What's Next?

Shares of International Business Machines Co. (NYSE:IBM - Get Free Report) were up 0.8% on Wednesday . The stock traded as high as $242.54 and last traded at $242.63. Approximately 863,923 shares traded hands during trading, a decline of 79% from the average daily volume of 4,201,289 shares. The stock had previously closed at $240.70.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Wedbush began coverage on shares of International Business Machines in a research report on Monday, February 3rd. They set an "outperform" rating for the company. Morgan Stanley boosted their price target on International Business Machines from $217.00 to $228.00 and gave the stock an "equal weight" rating in a report on Thursday, January 30th. Oppenheimer began coverage on shares of International Business Machines in a report on Tuesday, February 11th. They issued an "outperform" rating and a $320.00 price objective for the company. The Goldman Sachs Group reissued a "buy" rating on shares of International Business Machines in a research note on Wednesday, February 5th. Finally, UBS Group lifted their target price on shares of International Business Machines from $150.00 to $160.00 and gave the stock a "sell" rating in a research note on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, International Business Machines presently has a consensus rating of "Hold" and a consensus target price of $232.75.

International Business Machines Trading Down 0.1 %

The stock's 50 day simple moving average is $247.61 and its two-hundred day simple moving average is $233.49. 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 stock has a market capitalization of $221.10 billion, a PE ratio of 37.20, a PEG ratio of 5.81 and a beta of 0.67.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results 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 return on equity of 38.99% and a net margin of 9.60%. On average, sell-side analysts expect that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were issued a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.80%. International Business Machines's payout ratio is 104.21%.

Insider Activity

In related news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction on 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 sale, the senior vice president now 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.18% of the stock is owned by company insiders.

Hedge Funds Weigh In On International Business Machines

A number of large investors have recently modified their holdings of IBM. Treasurer of the State of North Carolina lifted its stake in International Business Machines by 0.8% in the fourth quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock worth $108,942,000 after purchasing an additional 4,131 shares during the last quarter. Blue Zone Wealth Advisors LLC bought a new position in International Business Machines during the 4th quarter worth approximately $242,000. Brady Martz Wealth Solutions LLC purchased a new position in International Business Machines in the 4th quarter worth approximately $1,940,000. Tranquilli Financial Advisor LLC bought a new stake in International Business Machines in the fourth quarter valued at approximately $373,000. Finally, Truist Financial Corp boosted its stake in shares of International Business Machines by 6.5% during the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company's stock valued at $178,296,000 after purchasing an additional 49,591 shares during the period. 58.96% of the stock is owned by hedge funds and other 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.