International Business Machines (NYSE:IBM) Stock Price Down 0.3% – Here’s What Happened

International Business Machines Co. (NYSE:IBM)’s share price dropped 0.3% on Wednesday . The stock traded as low as $215.16 and last traded at $220.30. Approximately 1,201,791 shares were traded during trading, a decline of 71% from the average daily volume of 4,170,424 shares. The stock had previously closed at $221.03.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Oppenheimer initiated coverage on International Business Machines in a report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price target for the company. Wedbush began coverage on shares of International Business Machines in a report on Monday, February 3rd. They issued an “outperform” rating on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a report on Monday, January 27th. BMO Capital Markets raised their target price on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Finally, Sanford C. Bernstein boosted their price target on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $231.13.

International Business Machines Price Performance

The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The company’s fifty day moving average is $251.20 and its 200 day moving average is $232.67. The stock has a market cap of $205.81 billion, a PE ratio of 34.54, a price-to-earnings-growth ratio of 5.81 and a beta of 0.67.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. As a group, sell-side analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were paid a $1.67 dividend. The ex-dividend date was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.01%. International Business Machines’s dividend payout ratio (DPR) is currently 104.21%.

Insider Buying and Selling

In other news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were 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 of the company’s stock, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On International Business Machines

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IBM. Capital World Investors grew its stake in shares of International Business Machines by 413.5% during the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock valued at $2,634,577,000 after acquiring an additional 9,650,534 shares in the last quarter. Norges Bank purchased a new position in International Business Machines in the fourth quarter valued at about $1,236,176,000. GAMMA Investing LLC grew its stake in International Business Machines by 29,564.2% during the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company’s stock valued at $10,940,520,000 after purchasing an additional 4,384,958 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in International Business Machines during the 4th quarter worth approximately $592,746,000. Finally, Northern Trust Corp raised its position in shares of International Business Machines by 18.6% in the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock valued at $2,384,275,000 after purchasing an additional 1,704,209 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

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.