International Business Machines (NYSE:IBM) Shares Down 0% – Here’s What Happened

International Business Machines Co. (NYSE:IBM)’s share price fell 0% during trading on Thursday . The company traded as low as $218.87 and last traded at $219.79. 481,532 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 4,209,730 shares. The stock had previously closed at $219.83.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of recent analyst reports. The Goldman Sachs Group increased their target price on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a research note on Wednesday, October 2nd. Jefferies Financial Group lifted their target price on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Finally, Bernstein Bank upped 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 report on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and an average target price of $210.65.

International Business Machines Price Performance

The stock has a 50-day simple moving average of $220.54 and a 200 day simple moving average of $207.26. The company has a market cap of $205.87 billion, a PE ratio of 32.41, a P/E/G ratio of 5.18 and a beta of 0.73. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the company posted $2.20 EPS. Equities analysts expect that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were issued a dividend of $1.67 per share. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 3.00%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Insider Activity at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.07% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of IBM. Meeder Asset Management Inc. increased its holdings in shares of International Business Machines by 40.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after acquiring an additional 166 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in International Business Machines in the second quarter valued at about $7,160,000. Philip James Wealth Mangement LLC purchased a new stake in International Business Machines in the 3rd quarter valued at approximately $5,117,000. Lord Abbett & CO. LLC purchased a new position in shares of International Business Machines during the 3rd quarter worth approximately $24,761,000. Finally, Aljian Capital Management LLC acquired a new stake in shares of International Business Machines in the 3rd quarter valued at approximately $611,000. 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.