International Business Machines (NYSE:IBM) Shares Down 0.6% - Here's What Happened

International Business Machines Co. (NYSE:IBM - Get Free Report) shares fell 0.6% on Monday . The company traded as low as $213.16 and last traded at $213.43. 862,072 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 4,229,652 shares. The stock had previously closed at $214.67.

Analyst Ratings Changes

A number of research firms have commented on IBM. Bank of America lifted their price objective on shares of International Business Machines from $209.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Bernstein Bank upped their price target on shares of International Business Machines from $185.00 to $210.00 and gave the company a "market perform" rating in a research note on Thursday, October 3rd. Hsbc Global Res raised shares of International Business Machines to a "moderate sell" rating in a report on Friday, July 26th. Royal Bank of Canada restated an "outperform" rating and set a $250.00 price objective on shares of International Business Machines in a report on Thursday. Finally, Stifel Nicolaus increased their target price on International Business Machines from $205.00 to $246.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $208.12.

International Business Machines Price Performance

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 stock has a market capitalization of $195.57 billion, a price-to-earnings ratio of 24.11, a P/E/G ratio of 4.84 and a beta of 0.70. The business's 50 day simple moving average is $215.94 and its 200-day simple moving average is $190.65.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same quarter last year, the business posted $2.20 EPS. The firm's revenue for the quarter was up 1.5% on a year-over-year basis. On average, research analysts forecast that International Business Machines Co. will post 10.13 earnings per share for the current year.

Hedge Funds Weigh In On International Business Machines

Institutional investors have recently modified their holdings of the business. Trilogy Capital Inc. bought a new stake in shares of International Business Machines during the first quarter worth $434,000. LVW Advisors LLC bought a new stake in International Business Machines during the 1st quarter worth $330,000. Chapin Davis Inc. acquired a new position in International Business Machines in the 1st quarter worth about $205,000. Miracle Mile Advisors LLC raised its position in International Business Machines by 5.3% in the first quarter. Miracle Mile Advisors LLC now owns 3,281 shares of the technology company's stock valued at $627,000 after purchasing an additional 165 shares during the last quarter. Finally, Claro Advisors LLC boosted its stake in shares of International Business Machines by 6.5% during the first quarter. Claro Advisors LLC now owns 5,049 shares of the technology company's stock valued at $964,000 after purchasing an additional 307 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

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.