International Business Machines (NYSE:IBM) Shares Down 1.2% - Here's Why

International Business Machines Co. (NYSE:IBM - Get Free Report) shares traded down 1.2% during trading on Wednesday . The company traded as low as $207.73 and last traded at $207.81. 1,181,930 shares were traded during trading, a decline of 72% from the average session volume of 4,239,710 shares. The stock had previously closed at $210.43.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Stifel Nicolaus raised their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. 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, October 24th. Hsbc Global Res upgraded shares of International Business Machines to a "moderate sell" rating in a research note on Friday, July 26th. DZ Bank cut International Business Machines from a "buy" rating to a "hold" rating and set a $215.00 price target for the company. in a report on Wednesday, October 2nd. Finally, Bank of America lifted their price target on shares of International Business Machines from $209.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $208.12.

International Business Machines Stock Down 2.4 %

The firm has a 50 day simple moving average of $216.23 and a 200-day simple moving average of $190.85. 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 cap of $188.66 billion, a P/E ratio of 23.53, a price-to-earnings-growth ratio of 4.84 and a beta of 0.70.

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

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.25%. International Business Machines's dividend payout ratio is 75.65%.

Hedge Funds Weigh In On International Business Machines

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of 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 acquiring an additional 5,546,855 shares during the period. Legal & General Group Plc boosted its position in International Business Machines by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company's stock valued at $1,467,974,000 after buying an additional 330,694 shares during the period. Ameriprise Financial Inc. increased its holdings in International Business Machines by 6.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company's stock valued at $1,274,074,000 after purchasing an additional 444,698 shares during the period. Dimensional Fund Advisors LP lifted its stake in International Business Machines by 6.8% in the second quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company's stock worth $829,431,000 after acquiring an additional 304,390 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of International Business Machines by 151.6% during 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 purchasing an additional 2,118,165 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

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.

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