International Business Machines Corporation (NYSE:IBM) Stock Rated “Hold” by Wall Street Brokerages

International Business Machines Corporation (NYSE:IBM) has received an average rating of “Hold” from the thirty-three brokerages that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and eighteen have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $252.96.

Several equities analysts have recently commented on the stock. Piper Sandler upgraded shares of International Business Machines to an “overweight” rating in a report on Tuesday, June 23rd. Argus dropped their price target on shares of International Business Machines from $360.00 to $280.00 and set a “buy” rating on the stock in a research note on Thursday, July 16th. Morgan Stanley cut their price objective on International Business Machines from $293.00 to $190.00 and set an “equal weight” rating for the company in a report on Thursday, July 23rd. Wolfe Research lowered International Business Machines to a “peer perform” rating in a report on Tuesday, June 23rd. Finally, KeyCorp cut International Business Machines to a “sector weight” rating in a research report on Tuesday, June 23rd.

International Business Machines Stock Performance

IBM stock opened at $227.12 on Tuesday. The firm has a 50 day simple moving average of $232.30 and a 200 day simple moving average of $243.84. International Business Machines has a 52 week low of $199.19 and a 52 week high of $332.46. The stock has a market cap of $213.98 billion, a P/E ratio of 20.15, a P/E/G ratio of 2.16 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.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, July 22nd. The technology company reported $2.93 earnings per share for the quarter, meeting the consensus estimate of $2.93. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. The firm had revenue of $17.16 billion for the quarter, compared to analyst estimates of $17.46 billion. During the same quarter in the prior year, the business earned $2.80 EPS. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. Research analysts anticipate that International Business Machines will post 12.33 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Monday, August 10th were given a $1.69 dividend. This represents a $6.76 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Monday, August 10th. International Business Machines’s dividend payout ratio is presently 59.98%.

Insider Buying and Selling at International Business Machines

In other news, SVP Robert Thomas sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $230.32, for a total transaction of $5,758,000.00. Following the completion of the sale, the senior vice president directly owned 47,800 shares of the company’s stock, valued at $11,009,296. This trade represents a 34.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.27% of the stock is owned by company insiders.

Hedge Funds Weigh In On International Business Machines

A number of hedge funds have recently added to or reduced their stakes in the company. Cornerstone Financial Management LLC acquired a new stake in International Business Machines during the 4th quarter valued at $28,000. Harborfront Financial Group LLC acquired a new position in shares of International Business Machines in the second quarter valued at $27,000. Hara Capital LLC acquired a new position in shares of International Business Machines in the second quarter valued at $28,000. Bare Financial Services Inc raised its position in shares of International Business Machines by 114.6% in the second quarter. Bare Financial Services Inc now owns 103 shares of the technology company’s stock valued at $29,000 after purchasing an additional 55 shares during the period. Finally, Portus Wealth Advisors LLC bought a new position in shares of International Business Machines in the first quarter valued at about $26,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Company Profile

International Business Machines Corporation (NYSE:IBM), commonly known as IBM, is a global technology company that provides hybrid cloud, artificial intelligence, software, consulting and infrastructure solutions. Its offerings help businesses and government organizations manage data, modernize applications, automate processes and improve cybersecurity.

IBM’s portfolio includes the Red Hat hybrid cloud platform, the watsonx suite of artificial intelligence and data tools, consulting services, and enterprise software for areas such as automation, application management, security and asset management.