International Business Machines (NYSE:IBM) Trading Up 0.7% - Here's What Happened

International Business Machines Co. (NYSE:IBM - Get Free Report) was up 0.7% during mid-day trading on Monday . The company traded as high as $207.00 and last traded at $206.52. Approximately 514,168 shares changed hands during trading, a decline of 88% from the average daily volume of 4,220,503 shares. The stock had previously closed at $204.99.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on IBM shares. Morgan Stanley cut their target price on shares of International Business Machines from $217.00 to $208.00 and set an "equal weight" rating for the company in a research note on Thursday, October 24th. BMO Capital Markets increased their target price on shares of International Business Machines from $235.00 to $260.00 and gave the stock a "market perform" rating in a research report on Thursday, October 24th. Jefferies Financial Group increased their target price on shares of International Business Machines from $200.00 to $245.00 and gave the stock a "hold" rating in a research report on Monday, October 21st. DZ Bank lowered shares of International Business Machines from a "buy" rating to a "hold" rating and set a $215.00 target price on the stock. in a research report on Wednesday, October 2nd. Finally, Stifel Nicolaus increased their target price on shares of International Business Machines from $205.00 to $246.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $208.12.

International Business Machines Price Performance

The company's 50 day moving average price is $218.79 and its 200-day moving average price is $193.88. The stock has a market cap of $192.66 billion, a P/E ratio of 30.06, a P/E/G ratio of 4.60 and a beta of 0.71. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16.

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

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines's dividend payout ratio is presently 97.23%.

Insider Buying and Selling

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares of the company's stock, valued at $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.07% of the stock is owned by insiders.

Institutional Investors Weigh In On International Business Machines

A number of large investors have recently bought and sold shares of the stock. Ellenbecker Investment Group grew its holdings in shares of International Business Machines by 2.3% during the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company's stock valued at $453,000 after buying an additional 46 shares during the last quarter. Goldstein Advisors LLC boosted its holdings in International Business Machines by 4.0% during the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company's stock worth $269,000 after purchasing an additional 47 shares during the last quarter. Vertex Planning Partners LLC raised its position in International Business Machines by 3.6% in the third quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company's stock worth $298,000 after acquiring an additional 47 shares during the period. Sollinda Capital Management LLC raised its position in International Business Machines by 3.7% in the third quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company's stock worth $301,000 after acquiring an additional 49 shares during the period. Finally, Lansing Street Advisors lifted its stake in International Business Machines by 3.4% in the 3rd quarter. Lansing Street Advisors now owns 1,503 shares of the technology company's stock worth $332,000 after purchasing an additional 49 shares in the last quarter. 58.96% of the stock is currently 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.

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