International Business Machines (NYSE:IBM) Stock Price Up 1.5% Following Analyst Upgrade

International Business Machines Co. (NYSE:IBM)’s stock price shot up 1.5% on Friday after Sanford C. Bernstein raised their price target on the stock from $210.00 to $215.00. Sanford C. Bernstein currently has a market perform rating on the stock. International Business Machines traded as high as $223.58 and last traded at $223.19. 1,513,678 shares changed hands during mid-day trading, a decline of 25% from the average session volume of 2,005,902 shares. The stock had previously closed at $219.94.

A number of other analysts have also recently weighed in on the stock. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Jefferies Financial Group upped their price target on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. Evercore ISI boosted their price objective on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Bernstein Bank raised their target price on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. Finally, BMO Capital Markets upped their price target on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, International Business Machines presently has an average rating of “Hold” and a consensus target price of $210.65.

Insider Buying and Selling

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the sale, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.07% of the company’s stock.

Institutional Investors Weigh In On International Business Machines

Several institutional investors and hedge funds have recently made changes to their positions in IBM. Hazlett Burt & Watson Inc. grew its stake in International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after buying an additional 116 shares during the last quarter. Hara Capital LLC bought a new position in International Business Machines in the 3rd quarter worth approximately $29,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of International Business Machines in the 2nd quarter valued at $36,000. Modus Advisors LLC bought a new stake in International Business Machines during the 4th quarter worth about $40,000. Finally, Capital Performance Advisors LLP acquired a new stake in International Business Machines during the 3rd quarter worth $43,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

The firm has a market capitalization of $206.37 billion, a P/E ratio of 32.49, a price-to-earnings-growth ratio of 5.18 and a beta of 0.73. The company has a 50-day moving average price of $220.34 and a 200-day moving average price of $206.80. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.03. The company had revenue of $14.97 billion during the quarter, compared to the consensus estimate 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 revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.20 earnings per share. On average, sell-side analysts predict that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors 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 dividend yield of 2.99%. International Business Machines’s payout ratio is presently 97.23%.

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.