International Business Machines (NYSE:IBM) Stock Price Up 0% - Still a Buy?

Shares of International Business Machines Co. (NYSE:IBM - Get Free Report) shot up 0% during mid-day trading on Tuesday . The stock traded as high as $248.03 and last traded at $248.75. 834,157 shares were traded during mid-day trading, a decline of 82% from the average session volume of 4,721,924 shares. The stock had previously closed at $248.66.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on IBM shares. Royal Bank of Canada restated an "outperform" rating and set a $250.00 price objective on shares of International Business Machines in a research note on Monday, January 27th. The Goldman Sachs Group reissued a "buy" rating on shares of International Business Machines in a research report on Wednesday, February 5th. UBS Group boosted their price target on International Business Machines from $150.00 to $160.00 and gave the stock a "sell" rating in a research report on Tuesday, January 14th. Bank of America increased their price objective on International Business Machines from $260.00 to $270.00 and gave the company a "buy" rating in a report on Thursday, January 30th. Finally, Jefferies Financial Group lowered their target price on shares of International Business Machines from $270.00 to $265.00 and set a "hold" rating on the stock in a report on Monday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $231.13.

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International Business Machines Stock Performance

The company has a market cap of $225.77 billion, a P/E ratio of 37.99, a price-to-earnings-growth ratio of 5.81 and a beta of 0.67. The stock has a 50 day moving average price of $251.05 and a two-hundred day moving average price of $232.26. 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 posted 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, research analysts predict 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. Shareholders of record on Monday, February 10th were given a dividend of $1.67 per share. The ex-dividend date was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.74%. International Business Machines's payout ratio is presently 104.21%.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the firm'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 transaction, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.18% of the company's stock.

Institutional Trading of International Business Machines

Several large investors have recently modified their holdings of IBM. Blue Zone Wealth Advisors LLC acquired a new stake in International Business Machines during the fourth quarter worth about $242,000. Brady Martz Wealth Solutions LLC acquired a new stake in shares of International Business Machines during the 4th quarter worth approximately $1,940,000. Tranquilli Financial Advisor LLC bought a new position in International Business Machines in the fourth quarter valued at approximately $373,000. Truist Financial Corp raised its position in 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 in the last quarter. Finally, Nordea Investment Management AB lifted its stake in International Business Machines by 6.5% during the fourth quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company's stock worth $16,615,000 after purchasing an additional 4,625 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

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.