International Business Machines (NYSE:IBM) Stock Price Down 9.3% on Analyst Downgrade

International Business Machines Co. (NYSE:IBM)’s share price dropped 9.3% on Thursday after Morgan Stanley lowered their price target on the stock from $186.00 to $179.00. Morgan Stanley currently has an equal weight rating on the stock. International Business Machines traded as low as $165.66 and last traded at $167.06. Approximately 7,696,464 shares changed hands during trading, an increase of 59% from the average daily volume of 4,836,812 shares. The stock had previously closed at $184.10.

Other analysts have also issued reports about the stock. UBS Group increased their target price on shares of International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a report on Monday, April 22nd. Wedbush increased their target price on shares of International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Thursday. Bank of America raised their price objective on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Jefferies Financial Group lowered their price objective on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a report on Tuesday. Finally, Evercore ISI upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $165.00 to $200.00 in a report on Friday, January 19th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $184.08.

Hedge Funds Weigh In On International Business Machines

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Ballentine Partners LLC increased its position in shares of International Business Machines by 1.5% during the third quarter. Ballentine Partners LLC now owns 12,826 shares of the technology company’s stock valued at $1,799,000 after acquiring an additional 194 shares in the last quarter. TFG Advisers LLC increased its position in shares of International Business Machines by 11.6% during the third quarter. TFG Advisers LLC now owns 7,538 shares of the technology company’s stock valued at $1,058,000 after acquiring an additional 786 shares in the last quarter. First Personal Financial Services increased its position in shares of International Business Machines by 23.8% during the third quarter. First Personal Financial Services now owns 3,544 shares of the technology company’s stock valued at $497,000 after acquiring an additional 681 shares in the last quarter. MCF Advisors LLC increased its position in shares of International Business Machines by 45.5% during the third quarter. MCF Advisors LLC now owns 1,683 shares of the technology company’s stock valued at $236,000 after acquiring an additional 526 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC increased its position in shares of International Business Machines by 0.6% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 126,269 shares of the technology company’s stock valued at $17,715,000 after acquiring an additional 765 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Down 1.0 %

The company has a market cap of $153.28 billion, a P/E ratio of 18.94, a P/E/G ratio of 3.62 and a beta of 0.70. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.96 and a quick ratio of 0.93. The company’s 50-day moving average is $187.60 and its two-hundred day moving average is $170.15.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, April 24th. The technology company reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.50%. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. During the same quarter in the previous year, the firm posted $1.36 EPS. The firm’s revenue was up 1.5% on a year-over-year basis. As a group, equities analysts predict that International Business Machines Co. will post 10.04 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 Saturday, March 9th. Shareholders of record on Friday, February 9th were given a $1.66 dividend. This represents a $6.64 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend was Thursday, February 8th. International Business Machines’s dividend payout ratio (DPR) is presently 75.20%.

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.