International Business Machines (NYSE:IBM) Trading Down 1.8% – Here’s What Happened

International Business Machines Co. (NYSE:IBM) shares fell 1.8% during mid-day trading on Tuesday . The company traded as low as $209.63 and last traded at $209.77. 428,177 shares traded hands during trading, a decline of 90% from the average session volume of 4,222,197 shares. The stock had previously closed at $213.57.

Wall Street Analyst Weigh In

IBM has been the subject of a number of research reports. The Goldman Sachs Group upped their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a report on Wednesday, October 2nd. BMO Capital Markets upped their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. UBS Group increased their price target on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. Finally, Bank of America increased their price target on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $208.12.

International Business Machines Trading Down 0.9 %

The company has a 50 day moving average of $218.58 and a 200 day moving average of $193.11. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The stock has a market capitalization of $193.24 billion, a price-to-earnings ratio of 30.13, a P/E/G ratio of 4.74 and a beta of 0.71.

International Business Machines (NYSE:IBM) last released its quarterly earnings data 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 10.22% and a return on equity of 40.52%. The firm had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same period last year, the business earned $2.20 earnings per share. International Business Machines’s revenue was up 1.5% compared to the same quarter last year. On average, research analysts predict that International Business Machines Co. will post 10.11 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be given a $1.67 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 3.20%. International Business Machines’s dividend payout ratio is currently 97.23%.

Insider Buying and Selling

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.07% of the company’s stock.

Hedge Funds Weigh In On International Business Machines

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hazlett Burt & Watson Inc. grew its stake in shares of International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after acquiring an additional 116 shares in the last quarter. Hara Capital LLC acquired a new position in shares of International Business Machines during the third quarter worth $29,000. ESL Trust Services LLC acquired a new position in shares of International Business Machines during the first quarter worth $28,000. Capital Performance Advisors LLP acquired a new position in shares of International Business Machines during the third quarter worth $43,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new position in shares of International Business Machines during the second quarter worth $36,000. 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.