International Business Machines (NYSE:IBM) Trading 0.6% Higher - Should You Buy?

Shares of International Business Machines Co. (NYSE:IBM - Get Free Report) shot up 0.6% on Tuesday . The stock traded as high as $237.37 and last traded at $236.73. 679,549 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 4,182,172 shares. The stock had previously closed at $235.26.

Wall Street Analyst Weigh In

IBM has been the topic of several analyst reports. Evercore ISI raised their price target on shares of International Business Machines from $215.00 to $240.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 11th. Jefferies Financial Group boosted 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. Bank of America raised their price objective on International Business Machines from $209.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. DZ Bank downgraded 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, BMO Capital Markets upped their price objective on shares of International Business Machines from $190.00 to $210.00 and gave the company a "market perform" rating in a research note on Thursday, July 25th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, International Business Machines presently has an average rating of "Hold" and an average target price of $198.41.

International Business Machines Price Performance

The company's 50-day simple moving average is $209.64 and its 200-day simple moving average is $188.23. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The company has a market cap of $214.03 billion, a price-to-earnings ratio of 26.39, a P/E/G ratio of 5.21 and a beta of 0.70.

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

International Business Machines Dividend Announcement

The business also recently declared 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 of this dividend was Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 2.87%. International Business Machines's dividend payout ratio is presently 75.65%.

Hedge Funds Weigh In On International Business Machines

A number of hedge funds have recently bought and sold shares of IBM. FPC Investment Advisory Inc. bought a new position in shares of International Business Machines in the 1st quarter worth about $26,000. ESL Trust Services LLC acquired a new position in International Business Machines in the first quarter valued at approximately $28,000. Creekmur Asset Management LLC bought a new position in shares of International Business Machines during the fourth quarter valued at approximately $29,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of International Business Machines during the 2nd quarter worth approximately $36,000. Finally, Financial Synergies Wealth Advisors Inc. lifted its holdings in shares of International Business Machines by 164.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company's stock worth $38,000 after purchasing an additional 123 shares during 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.