International Business Machines (NYSE:IBM) Trading Up 0.8% - Here's What Happened

International Business Machines Co. (NYSE:IBM - Get Free Report)'s share price rose 0.8% during mid-day trading on Thursday . The stock traded as high as $221.82 and last traded at $221.53. Approximately 847,675 shares were traded during trading, a decline of 80% from the average daily volume of 4,209,219 shares. The stock had previously closed at $219.73.

Analyst Upgrades and Downgrades

IBM has been the subject of several research reports. Jefferies Financial Group lifted their price target on International Business Machines from $190.00 to $200.00 and gave the company a "hold" rating in a report on Thursday, July 25th. Royal Bank of Canada lifted their price target on International Business Machines from $200.00 to $211.00 and gave the company an "outperform" rating in a report on Thursday, July 25th. StockNews.com raised International Business Machines from a "hold" rating to a "buy" rating in a research note on Wednesday, June 19th. The Goldman Sachs Group raised their price objective on International Business Machines from $220.00 to $250.00 and gave the company a "buy" rating in a research note on Monday. Finally, Stifel Nicolaus raised their price objective on International Business Machines from $190.00 to $205.00 and gave the company a "buy" rating in a research note on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $194.35.

International Business Machines Trading Up 1.4 %

The company has a market cap of $204.57 billion, a P/E ratio of 25.22, a P/E/G ratio of 4.90 and a beta of 0.70. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The business has a 50-day moving average price of $202.93 and a two-hundred day moving average price of $186.04.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, beating analysts' consensus estimates of $2.16 by $0.27. The business had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm's revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.18 earnings per share. On average, analysts predict that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a $1.67 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a yield of 3.00%. International Business Machines's dividend payout ratio is presently 75.65%.

Institutional Investors Weigh In On International Business Machines

Large investors have recently modified their holdings of the business. FPC Investment Advisory Inc. acquired a new position in shares of International Business Machines during the first quarter worth about $26,000. ESL Trust Services LLC acquired a new position in International Business Machines during the first quarter valued at approximately $28,000. Creekmur Asset Management LLC acquired a new position in International Business Machines during the fourth quarter valued at approximately $29,000. Ables Iannone Moore & Associates Inc. acquired a new position in International Business Machines during the fourth quarter valued at approximately $31,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new position in International Business Machines during the second quarter valued at approximately $36,000. 58.96% of the stock is currently owned by 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.