International Business Machines (NYSE:IBM) Trading 1.9% Higher – Here’s What Happened

Shares of International Business Machines Corporation (NYSE:IBM) were up 1.9% during trading on Wednesday . The stock traded as high as $257.62 and last traded at $255.4340. Approximately 8,502,600 shares changed hands during trading, an increase of 34% from the average daily volume of 6,360,019 shares. The stock had previously closed at $250.69.

Trending Headlines about International Business Machines

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: Wedbush reaffirmed an Outperform rating and $320 price target, reinforcing bullish sentiment around IBM’s quantum and software strategy. IBM Is Chasing A ‘$1 Trillion Value Creation Engine’ — And It’s Spending $15 Billion To Get There
• Positive Sentiment: IBM’s $10 billion quantum investment and CHIPS-linked foundry plans fueled a re-rating of the stock as investors focused on its future growth optionality. IBM to invest $10 billion for large-scale quantum computer by 2029
• Positive Sentiment: Project Lightwell, IBM’s $5 billion open-source security push, supports its positioning as a key enterprise infrastructure and cybersecurity partner. IBM and Red Hat Commit $5 Billion to Redefine the Future of Open Source in the AI Era
• Neutral Sentiment: IBM was also mentioned as a contributor to broader market gains, alongside other tech names, as the Dow and major indexes hit record highs. Dell and 6 More Stocks That Explain the Market Today

Wall Street Analyst Weigh In

IBM has been the topic of a number of research analyst reports. Jefferies Financial Group lowered their target price on shares of International Business Machines from $370.00 to $320.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Argus set a $360.00 price objective on International Business Machines in a research note on Friday, January 30th. UBS Group upgraded International Business Machines from a “sell” rating to a “neutral” rating and set a $236.00 target price for the company in a research note on Wednesday, February 25th. Oppenheimer dropped their price target on International Business Machines from $380.00 to $320.00 and set an “outperform” rating on the stock in a research report on Thursday, April 16th. Finally, Erste Group Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $294.41.

International Business Machines Stock Performance

The stock has a market capitalization of $280.33 billion, a price-to-earnings ratio of 26.17, a price-to-earnings-growth ratio of 2.64 and a beta of 0.58. The stock’s 50-day simple moving average is $239.22 and its 200 day simple moving average is $270.79. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.75.

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

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th will be paid a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a dividend yield of 2.3%. This is an increase from International Business Machines’s previous quarterly dividend of $1.68. The ex-dividend date of this dividend is Friday, May 8th. International Business Machines’s payout ratio is currently 59.77%.

Institutional Trading of International Business Machines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Foster Group Inc. increased its stake in International Business Machines by 1.3% in the 4th quarter. Foster Group Inc. now owns 2,507 shares of the technology company’s stock valued at $742,000 after buying an additional 33 shares during the period. CVA Family Office LLC lifted its stake in shares of International Business Machines by 1.4% in the 4th quarter. CVA Family Office LLC now owns 2,389 shares of the technology company’s stock worth $708,000 after acquiring an additional 33 shares during the period. New Covenant Trust Company N.A. boosted its holdings in shares of International Business Machines by 3.8% in the fourth quarter. New Covenant Trust Company N.A. now owns 905 shares of the technology company’s stock valued at $264,000 after acquiring an additional 33 shares in the last quarter. McGowan Group Asset Management Inc. increased its stake in shares of International Business Machines by 1.2% during the fourth quarter. McGowan Group Asset Management Inc. now owns 2,693 shares of the technology company’s stock worth $798,000 after acquiring an additional 33 shares during the period. Finally, Marco Investment Management LLC raised its holdings in International Business Machines by 0.3% during the third quarter. Marco Investment Management LLC now owns 10,774 shares of the technology company’s stock worth $3,040,000 after purchasing an additional 34 shares in the last quarter. 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.