International Business Machines (NYSE:IBM) Stock Price Down 0.9% - Here's Why

International Business Machines Co. (NYSE:IBM - Get Free Report)'s stock price dropped 0.9% during mid-day trading on Thursday . The company traded as low as $230.65 and last traded at $231.60. Approximately 817,340 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 4,171,677 shares. The stock had previously closed at $233.67.

Analyst Upgrades and Downgrades

IBM has been the topic of several research reports. DZ Bank lowered International Business Machines from a "buy" rating to a "hold" rating and set a $215.00 target price on the stock. in a research note on Wednesday, October 2nd. Hsbc Global Res upgraded International Business Machines to a "moderate sell" rating in a research note on Friday, July 26th. Royal Bank of Canada increased their target price on shares of International Business Machines from $211.00 to $250.00 and gave the stock an "outperform" rating in a research report on Thursday, October 10th. Bernstein Bank lifted their target price on shares of International Business Machines from $185.00 to $210.00 and gave the stock a "market perform" rating in a research note on Thursday, October 3rd. Finally, The Goldman Sachs Group upped their price target on shares of International Business Machines from $220.00 to $250.00 and gave the company a "buy" rating in a research note on Monday, September 30th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, International Business Machines presently has a consensus rating of "Hold" and an average target price of $203.06.

International Business Machines Stock Down 0.4 %

The company has a 50 day moving average of $211.38 and a 200-day moving average of $188.85. 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 $213.90 billion, a P/E ratio of 26.37, a price-to-earnings-growth 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 the consensus estimate of $2.16 by $0.27. The company had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. International Business Machines's revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.18 earnings per share. On average, equities analysts predict that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines's dividend payout ratio is currently 75.65%.

Hedge Funds Weigh In On International Business Machines

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in International Business Machines by 6.7% in the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company's stock worth $16,833,642,000 after purchasing an additional 5,546,855 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of International Business Machines by 151.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company's stock valued at $671,352,000 after acquiring an additional 2,118,165 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in International Business Machines by 306.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company's stock valued at $242,441,000 after acquiring an additional 1,056,759 shares during the period. Strategic Financial Concepts LLC grew its position in International Business Machines by 12,282.2% during the 2nd quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company's stock worth $817,000 after acquiring an additional 468,567 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in International Business Machines by 6.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company's stock worth $1,274,074,000 after purchasing an additional 444,698 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

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.