International Business Machines (NYSE:IBM) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of International Business Machines (NYSE:IBM) from a buy rating to a hold rating in a research report released on Saturday.

A number of other analysts have also recently commented on the stock. Bank of America upped their price target on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. upped their target price on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. BMO Capital Markets boosted their price target on International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Finally, Oppenheimer began coverage on shares of International Business Machines in a research report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price objective for the company. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and an average target price of $231.44.

International Business Machines Stock Up 1.9 %

Shares of NYSE:IBM opened at $253.00 on Friday. The firm has a market cap of $234.60 billion, a P/E ratio of 39.47, a P/E/G ratio of 5.81 and a beta of 0.74. International Business Machines has a 12-month low of $162.62 and a 12-month high of $266.45. The business has a fifty day simple moving average of $244.84 and a 200 day simple moving average of $228.85. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. Analysts predict that International Business Machines will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were paid a dividend of $1.67 per share. The ex-dividend date was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.64%. International Business Machines’s dividend payout ratio (DPR) is currently 104.21%.

Insiders Place Their Bets

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the transaction, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.07% of the company’s stock.

Institutional Trading of International Business Machines

Institutional investors and hedge funds have recently made changes to their positions in the company. Compass Financial Services Inc purchased a new stake in shares of International Business Machines during the fourth quarter valued at approximately $26,000. Vision Financial Markets LLC purchased a new stake in shares of International Business Machines during the 4th quarter valued at $31,000. Avondale Wealth Management raised its stake in shares of International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after purchasing an additional 56 shares during the period. Valued Wealth Advisors LLC boosted its holdings in shares of International Business Machines by 134.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after buying an additional 90 shares during the last quarter. Finally, Rialto Wealth Management LLC bought a new position in International Business Machines during the fourth quarter valued at about $35,000. Hedge funds and other institutional investors 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.