International Business Machines (NYSE:IBM) Shares Climb 1.8% – Should You Buy?

International Business Machines Corporation (NYSE:IBM) shares traded up 1.8% on Monday. The company traded as high as $238.38 and last traded at $236.3550. 4,896,342 shares changed hands during trading, a decline of 34% from the average daily volume of 7,459,210 shares. The stock had previously closed at $232.14.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on IBM shares. Robert W. Baird started coverage on shares of International Business Machines in a research report on Tuesday, July 21st. They issued a “neutral” rating and a $230.00 price objective for the company. Craig Hallum started coverage on shares of International Business Machines in a research report on Wednesday, August 19th. They set a “buy” rating on the stock. Citigroup dropped their target price on shares of International Business Machines from $255.00 to $245.00 and set a “buy” rating on the stock in a research report on Friday, July 24th. Jefferies Financial Group cut their target price on International Business Machines from $320.00 to $260.00 and set a “buy” rating on the stock in a research note on Tuesday, July 21st. Finally, BMO Capital Markets reduced their target price on International Business Machines from $270.00 to $230.00 and set a “market perform” rating for the company in a report on Thursday, July 23rd. Twenty equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, International Business Machines presently has a consensus rating of “Moderate Buy” and an average price target of $255.76.

International Business Machines Stock Up 1.8%

The company has a market capitalization of $222.68 billion, a P/E ratio of 20.97, a PEG ratio of 2.23 and a beta of 0.73. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.74 and a current ratio of 0.79. The stock has a 50 day moving average price of $231.99 and a 200 day moving average price of $243.63.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.93. The company had revenue of $17.16 billion for the quarter, compared to the consensus estimate of $17.46 billion. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.80 EPS. Equities research analysts forecast that International Business Machines Corporation will post 12.34 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Monday, August 10th were given a $1.69 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $6.76 annualized dividend and a yield of 2.9%. International Business Machines’s payout ratio is currently 59.98%.

Insiders Place Their Bets

In other International Business Machines news, SVP Robert Thomas sold 25,000 shares of the business’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $230.32, for a total value of $5,758,000.00. Following the transaction, the senior vice president directly owned 47,800 shares in the company, valued at $11,009,296. The trade was a 34.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is currently owned by insiders.

Institutional Investors Weigh In On International Business Machines

Large investors have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in International Business Machines in the 2nd quarter valued at about $21,586,659,000. State Street Corp lifted its holdings in International Business Machines by 2.7% during the second quarter. State Street Corp now owns 56,045,055 shares of the technology company’s stock valued at $15,760,430,000 after purchasing an additional 1,450,562 shares during the last quarter. Bank of America Corp DE boosted its position in International Business Machines by 7.0% during the first quarter. Bank of America Corp DE now owns 16,063,653 shares of the technology company’s stock worth $3,893,669,000 after purchasing an additional 1,049,602 shares during the period. Bank of New York Mellon Corp bought a new position in International Business Machines during the second quarter worth about $2,606,782,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in International Business Machines by 0.7% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,621,512 shares of the technology company’s stock worth $2,143,245,000 after purchasing an additional 53,388 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

About International Business Machines

International Business Machines Corporation (NYSE:IBM), commonly known as IBM, is a global technology and consulting company that helps organizations modernize their information technology and business operations. Its offerings include hybrid cloud solutions, artificial intelligence software and services, enterprise software, IT infrastructure, cybersecurity, data analytics, and technology consulting.

IBM provides products and services to businesses, governments, and other institutions across industries and regions worldwide.