International Business Machines Co. (NYSE:IBM - Get Free Report) traded down 2.2% during trading on Wednesday . The company traded as low as $247.17 and last traded at $247.66. 800,074 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 3,904,895 shares. The stock had previously closed at $253.21.
Wall Street Analyst Weigh In
A number of research analysts have commented on the company. Jefferies Financial Group upped their price objective on International Business Machines from $245.00 to $270.00 and gave the company a "hold" rating in a report on Thursday, January 30th. Oppenheimer assumed coverage on International Business Machines in a report on Tuesday, February 11th. They issued an "outperform" rating and a $320.00 price objective on the stock. StockNews.com raised International Business Machines from a "hold" rating to a "buy" rating in a report on Friday. Sanford C. Bernstein upped their price objective on International Business Machines from $210.00 to $215.00 and gave the company a "market perform" rating in a report on Friday, January 3rd. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of International Business Machines in a report on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, International Business Machines presently has a consensus rating of "Hold" and a consensus target price of $231.44.
Read Our Latest Analysis on IBM
International Business Machines Trading Up 5.2 %
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 firm has a market capitalization of $242.63 billion, a P/E ratio of 40.82, a P/E/G ratio of 5.81 and a beta of 0.74. The firm has a 50-day moving average of $241.29 and a two-hundred day moving average of $226.41.
International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping the consensus estimate 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, analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current year.
International Business Machines Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be given a dividend of $1.67 per share. The ex-dividend date is Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.55%. International Business Machines's dividend payout ratio is currently 104.21%.
Insider Buying and Selling
In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction dated 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 completion of the transaction, the senior vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.07% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On International Business Machines
Several large investors have recently bought and sold shares of the company. IronOak Wealth LLC. bought a new position in International Business Machines in the fourth quarter valued at about $235,000. Elite Financial Inc. acquired a new stake in shares of International Business Machines in the fourth quarter valued at about $673,000. Wood Tarver Financial Group LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at about $76,000. Kilter Group LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at about $1,404,000. Finally, Castle Rock Wealth Management LLC increased its stake in shares of International Business Machines by 6.5% in the fourth quarter. Castle Rock Wealth Management LLC now owns 13,775 shares of the technology company's stock valued at $3,028,000 after buying an additional 841 shares during the period. 58.96% of the stock is currently owned by institutional investors.
International Business Machines Company Profile
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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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