International Business Machines (NYSE:IBM) Trading Down 0.1% Following Analyst Downgrade

Shares of International Business Machines Co. (NYSE:IBM) dropped 0.1% on Monday after Morgan Stanley lowered their price target on the stock from $186.00 to $179.00. Morgan Stanley currently has an equal weight rating on the stock. International Business Machines traded as low as $166.57 and last traded at $166.93. Approximately 930,909 shares traded hands during trading, a decline of 81% from the average daily volume of 4,955,881 shares. The stock had previously closed at $167.13.

IBM has been the subject of several other research reports. Jefferies Financial Group reduced their target price on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a report on Tuesday, April 23rd. BMO Capital Markets decreased their target price on International Business Machines from $210.00 to $190.00 and set a “market perform” rating on the stock in a research report on Thursday. Wedbush increased their target price on International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday. Evercore upgraded International Business Machines from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $165.00 to $200.00 in a research note on Friday, January 19th. Finally, JPMorgan Chase & Co. lowered their price objective on International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a research report on Thursday. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to MarketBeat, International Business Machines presently has a consensus rating of “Hold” and an average target price of $184.08.

Institutional Investors Weigh In On International Business Machines

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Naples Money Management LLC bought a new position in International Business Machines in the 4th quarter valued at approximately $28,000. Creekmur Asset Management LLC acquired a new position in shares of International Business Machines during the fourth quarter worth $29,000. Briaud Financial Planning Inc bought a new position in shares of International Business Machines in the 3rd quarter valued at $31,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of International Business Machines during the 4th quarter valued at $31,000. Finally, Stone House Investment Management LLC grew its position in International Business Machines by 971.4% during the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock worth $32,000 after acquiring an additional 204 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Price Performance

The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32. The firm has a market cap of $153.16 billion, a P/E ratio of 18.90, a price-to-earnings-growth ratio of 4.08 and a beta of 0.70. The business has a 50-day moving average of $187.60 and a two-hundred day moving average of $170.53.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. During the same quarter in the prior year, the firm posted $1.36 earnings per share. The firm’s revenue was up 1.5% compared to the same quarter last year. On average, sell-side analysts anticipate that International Business Machines Co. will post 9.99 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Investors of record on Friday, February 9th were paid a $1.66 dividend. The ex-dividend date was Thursday, February 8th. This represents a $6.64 annualized dividend and a dividend yield of 3.97%. International Business Machines’s dividend payout ratio is 75.20%.

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.