International Business Machines (NYSE:IBM) Trading 0.7% Higher – Time to Buy?

Shares of International Business Machines Co. (NYSE:IBM) shot up 0.7% during mid-day trading on Friday . The company traded as high as $247.66 and last traded at $247.52. 1,102,420 shares were traded during trading, a decline of 72% from the average session volume of 3,899,760 shares. The stock had previously closed at $245.80.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on IBM. Oppenheimer assumed coverage on International Business Machines in a research report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price target for the company. Wedbush assumed coverage on International Business Machines in a research report on Monday, February 3rd. They issued an “outperform” rating for the company. The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. UBS Group upped their target price on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. Finally, Sanford C. Bernstein upped their target price on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $231.44.

International Business Machines Price Performance

The company has a 50 day simple moving average of $244.23 and a 200-day simple moving average of $228.26. The stock has a market cap of $230.10 billion, a price-to-earnings ratio of 38.71, a PEG ratio of 5.81 and a beta of 0.74. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

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

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

Insider Transactions at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the sale, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.07% of the company’s stock.

Institutional Trading of International Business Machines

A number of institutional investors and hedge funds have recently made changes to their positions in IBM. JBR Co Financial Management Inc grew its holdings in International Business Machines by 0.6% in the 4th quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company’s stock worth $1,405,000 after buying an additional 40 shares in the last quarter. Wealth Dimensions Group Ltd. grew its holdings in International Business Machines by 1.0% in the 4th quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company’s stock worth $873,000 after buying an additional 40 shares in the last quarter. Schechter Investment Advisors LLC grew its holdings in International Business Machines by 0.7% in the 4th quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company’s stock worth $1,396,000 after buying an additional 43 shares in the last quarter. Titleist Asset Management LLC grew its holdings in International Business Machines by 3.1% in the 4th quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company’s stock worth $315,000 after buying an additional 43 shares in the last quarter. Finally, Callan Capital LLC grew its holdings in International Business Machines by 2.4% in the 4th quarter. Callan Capital LLC now owns 1,870 shares of the technology company’s stock worth $411,000 after buying an additional 44 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

About International Business Machines

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.