International Business Machines (NYSE:IBM) Shares Down 1.1% - Here's What Happened

International Business Machines Co. (NYSE:IBM - Get Free Report)'s stock price traded down 1.1% during trading on Monday . The company traded as low as $214.75 and last traded at $217.23. 835,028 shares traded hands during trading, a decline of 70% from the average session volume of 2,785,630 shares. The stock had previously closed at $219.75.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on IBM shares. Bernstein Bank upped their price target on International Business Machines from $185.00 to $210.00 and gave the company a "market perform" rating in a research report on Thursday, October 3rd. StockNews.com downgraded shares of International Business Machines from a "buy" rating to a "hold" rating in a research report on Wednesday, November 20th. BMO Capital Markets boosted their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the company a "market perform" rating in a research report on Thursday, October 24th. Jefferies Financial Group raised their target price on shares of International Business Machines from $200.00 to $245.00 and gave the stock a "hold" rating in a report on Monday, October 21st. Finally, Stifel Nicolaus upped their target price on International Business Machines from $205.00 to $246.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $214.88.

International Business Machines Trading Down 1.1 %

The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The company has a market capitalization of $201.01 billion, a price-to-earnings ratio of 31.64, a price-to-earnings-growth ratio of 5.18 and a beta of 0.74. The business's 50 day moving average price is $222.14 and its two-hundred day moving average price is $209.84.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same period last year, the company posted $2.20 EPS. The firm's quarterly revenue was up 1.5% on a year-over-year basis. Equities analysts forecast that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.07%. International Business Machines's dividend payout ratio (DPR) is presently 97.23%.

Insider Buying and Selling

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the sale, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.07% of the company's stock.

Institutional Investors Weigh In On International Business Machines

Hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC raised its stake in shares of International Business Machines by 20,324.5% during the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company's stock worth $600,373,000 after purchasing an additional 2,702,340 shares in the last quarter. Holocene Advisors LP acquired a new position in International Business Machines in the third quarter worth approximately $573,306,000. State Street Corp raised its position in International Business Machines by 2.2% during the third quarter. State Street Corp now owns 55,671,883 shares of the technology company's stock valued at $12,307,940,000 after acquiring an additional 1,200,803 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in International Business Machines by 306.3% in the second quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company's stock valued at $242,441,000 after acquiring an additional 1,056,759 shares during the last quarter. Finally, Eagle Asset Management Inc. grew its position in International Business Machines by 587.1% in the third quarter. Eagle Asset Management Inc. now owns 628,213 shares of the technology company's stock worth $134,262,000 after acquiring an additional 536,785 shares in the last quarter. 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.