International Business Machines (NYSE:IBM) Trading 0.7% Higher After Earnings Beat

International Business Machines Co. (NYSE:IBM)’s stock price was up 0.7% during trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $184.16 and last traded at $183.41. Approximately 1,449,024 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 4,728,000 shares. The stock had previously closed at $182.19.

The technology company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the business earned $1.36 EPS.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Investors of record on Friday, February 9th were issued a $1.66 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $6.64 dividend on an annualized basis and a yield of 3.92%. International Business Machines’s dividend payout ratio (DPR) is presently 81.67%.

Analyst Ratings Changes

IBM has been the topic of a number of research analyst reports. Evercore raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and upped their price target for the company from $165.00 to $200.00 in a research report on Friday, January 19th. Bank of America upped their target price on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Jefferies Financial Group lowered their target price on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. decreased their price objective on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Societe Generale reiterated a “sell” rating and issued a $143.00 price objective on shares of International Business Machines in a research note on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $180.31.

Institutional Trading of International Business Machines

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Naples Money Management LLC purchased a new position in International Business Machines in the 4th quarter worth $28,000. Creekmur Asset Management LLC purchased a new position in International Business Machines in the 4th quarter worth $29,000. Ables Iannone Moore & Associates Inc. purchased a new position in International Business Machines in the 4th quarter worth $31,000. Financial Synergies Wealth Advisors Inc. raised its position in 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 period. Finally, Creative Capital Management Investments LLC raised its position in International Business Machines by 56.9% in the 1st quarter. Creative Capital Management Investments LLC now owns 204 shares of the technology company’s stock worth $39,000 after purchasing an additional 74 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

The company has a market cap of $155.20 billion, a PE ratio of 20.82, a PEG ratio of 3.58 and a beta of 0.70. The business’s 50-day moving average is $188.00 and its 200 day moving average is $169.97. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.93 and a current ratio of 0.96.

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.