International Business Machines (NYSE:IBM) Stock Price Down 0.8%

International Business Machines Co. (NYSE:IBM)’s share price dropped 0.8% during trading on Tuesday . The company traded as low as $165.30 and last traded at $166.16. Approximately 959,819 shares changed hands during trading, a decline of 81% from the average daily volume of 4,960,782 shares. The stock had previously closed at $167.43.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on IBM. Bank of America upped their target price on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Morgan Stanley cut their price objective on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a research report on Friday. Evercore ISI upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $165.00 to $200.00 in a report on Friday, January 19th. Sanford C. Bernstein lifted their price target on shares of International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a research report on Thursday, March 7th. Finally, Jefferies Financial Group lowered their price objective on International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a research report on Tuesday, April 23rd. Two 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $184.08.

International Business Machines Stock Performance

The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. The firm has a market capitalization of $152.36 billion, a PE ratio of 18.82, a price-to-earnings-growth ratio of 4.08 and a beta of 0.70. The firm has a 50-day moving average price of $187.19 and a 200 day moving average price of $170.72.

International Business Machines (NYSE:IBM) last announced its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. During the same period in the prior year, the firm earned $1.36 EPS. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. Research analysts expect that International Business Machines Co. will post 9.99 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be issued a $1.67 dividend. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 dividend on an annualized basis and a yield of 4.02%. International Business Machines’s dividend payout ratio (DPR) is 75.20%.

Institutional Investors Weigh In On International Business Machines

Hedge funds have recently bought and sold shares of the stock. RMR Wealth Builders increased its position in shares of International Business Machines by 2.7% in the 3rd quarter. RMR Wealth Builders now owns 3,375 shares of the technology company’s stock valued at $474,000 after purchasing an additional 90 shares during the last quarter. Sweet Financial Partners LLC grew its position in International Business Machines by 20.1% during the 3rd quarter. Sweet Financial Partners LLC now owns 3,125 shares of the technology company’s stock worth $438,000 after purchasing an additional 522 shares during the last quarter. Toews Corp ADV acquired a new position in International Business Machines in the 3rd quarter valued at about $772,000. Vicus Capital raised its stake in shares of International Business Machines by 33.7% during the third quarter. Vicus Capital now owns 3,171 shares of the technology company’s stock worth $445,000 after purchasing an additional 800 shares during the last quarter. Finally, Barrett & Company Inc. lifted its stake in shares of International Business Machines by 6.1% in the 3rd quarter. Barrett & Company Inc. now owns 2,668 shares of the technology company’s stock worth $374,000 after acquiring an additional 154 shares during the period. 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.