International Business Machines (NYSE:IBM) Stock Price Up 1.6% – Here’s Why

International Business Machines Co. (NYSE:IBM)’s stock price rose 1.6% during mid-day trading on Monday . The stock traded as high as $266.45 and last traded at $265.74. Approximately 2,495,463 shares changed hands during mid-day trading, a decline of 36% from the average daily volume of 3,897,224 shares. The stock had previously closed at $261.54.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. BMO Capital Markets increased their price target on 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. UBS Group increased their price objective on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a report on Tuesday, January 14th. Bank of America boosted their target price on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Oppenheimer assumed coverage on International Business Machines in a research note on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price objective for the company. Finally, Wedbush assumed coverage on shares of International Business Machines in a research report on Monday, February 3rd. They set an “outperform” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and an average target price of $231.44.

International Business Machines Trading Down 1.8 %

The company has a fifty day moving average of $241.29 and a 200-day moving average of $226.62. The company has a market capitalization of $238.24 billion, a price-to-earnings ratio of 40.08, a PEG ratio of 5.81 and a beta of 0.74. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating 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%. As a group, equities research analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be given a dividend of $1.67 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.60%. International Business Machines’s payout ratio is 104.21%.

Insider Activity

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 45,007 shares in the company, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.07% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of IBM. Compass Financial Services Inc acquired a new position in shares of International Business Machines in the fourth quarter worth $26,000. Vision Financial Markets LLC purchased a new stake in shares of International Business Machines during the 4th quarter worth approximately $31,000. Avondale Wealth Management boosted its stake in International Business Machines by 56.0% in the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after acquiring an additional 56 shares in the last quarter. Valued Wealth Advisors LLC boosted its position 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 valued at $35,000 after purchasing an additional 90 shares during the period. Finally, Rialto Wealth Management LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at approximately $35,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

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.