International Business Machines (NYSE:IBM) Shares Down 1.1% – What’s Next?

International Business Machines Corporation (NYSE:IBM)’s stock price fell 1.1% during mid-day trading on Friday . The company traded as low as $267.68 and last traded at $271.77. 5,094,060 shares changed hands during trading, a decline of 28% from the average session volume of 7,122,593 shares. The stock had previously closed at $274.85.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on IBM. HSBC upgraded International Business Machines from a “reduce” rating to a “hold” rating and boosted their price target for the stock from $218.00 to $231.00 in a research report on Tuesday, April 28th. DZ Bank upgraded International Business Machines from a “hold” rating to a “buy” rating and set a $295.00 price target for the company in a research report on Friday, April 24th. BMO Capital Markets dropped their price objective on International Business Machines from $290.00 to $270.00 and set a “market perform” rating on the stock in a research note on Thursday, April 23rd. Oppenheimer dropped their price objective on International Business Machines from $380.00 to $320.00 and set an “outperform” rating on the stock in a research note on Thursday, April 16th. Finally, Needham & Company LLC started coverage on International Business Machines in a research note on Wednesday, June 3rd. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $304.17.

International Business Machines Trading Down 1.1%

The company has a fifty day simple moving average of $249.46 and a two-hundred day simple moving average of $270.33. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.75. The stock has a market capitalization of $255.43 billion, a P/E ratio of 24.03, a price-to-earnings-growth ratio of 2.82 and a beta of 0.67.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, April 22nd. The technology company reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.10. The company had revenue of $15.92 billion for the quarter, compared to analyst estimates of $15.60 billion. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The company’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.60 earnings per share. On average, sell-side analysts expect that International Business Machines Corporation will post 12.4 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th were paid a dividend of $1.69 per share. The ex-dividend date was Friday, May 8th. This is a boost from International Business Machines’s previous quarterly dividend of $1.68. This represents a $6.76 annualized dividend and a yield of 2.5%. International Business Machines’s dividend payout ratio is currently 59.77%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Basepoint Wealth LLC acquired a new stake in International Business Machines in the fourth quarter valued at $25,000. Family CFO Inc bought a new position in International Business Machines in the 4th quarter valued at about $25,000. Joseph Group Capital Management bought a new position in International Business Machines in the 4th quarter valued at about $28,000. Cornerstone Financial Management LLC bought a new position in International Business Machines in the 4th quarter valued at about $28,000. Finally, SWAN Capital LLC bought a new position in International Business Machines in the 3rd quarter valued at about $28,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Company Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.