International Business Machines (NYSE:IBM) Trading 1.2% Higher Following Analyst Upgrade

International Business Machines Co. (NYSE:IBM)’s stock price traded up 1.2% during mid-day trading on Tuesday after UBS Group raised their price target on the stock from $125.00 to $130.00. UBS Group currently has a sell rating on the stock. International Business Machines traded as high as $184.23 and last traded at $184.02. 627,067 shares changed hands during trading, a decline of 87% from the average session volume of 4,703,278 shares. The stock had previously closed at $181.90.

Other analysts also recently issued reports about the company. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research report on Thursday, April 11th. BMO Capital Markets raised their price objective on International Business Machines from $155.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, January 25th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $190.00 target price on shares of International Business Machines in a research report on Wednesday, April 17th. Societe Generale reaffirmed a “sell” rating and issued a $143.00 target price on shares of International Business Machines in a research report on Friday, January 5th. Finally, Royal Bank of Canada lifted their target price on International Business Machines from $179.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus target price of $177.23.

Hedge Funds Weigh In On International Business Machines

Institutional investors and hedge funds have recently made changes to their positions in the stock. Naples Money Management LLC purchased a new stake in International Business Machines during the fourth quarter worth approximately $28,000. Creekmur Asset Management LLC purchased a new stake in International Business Machines during the fourth quarter worth approximately $29,000. Briaud Financial Planning Inc purchased a new stake in International Business Machines during the third quarter worth approximately $31,000. Ables Iannone Moore & Associates Inc. purchased a new stake in International Business Machines in the fourth quarter valued at approximately $31,000. Finally, Stone House Investment Management LLC lifted its stake in International Business Machines by 971.4% in the third quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after buying an additional 204 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Performance

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 stock has a 50 day simple moving average of $188.36 and a two-hundred day simple moving average of $169.98. The company has a market cap of $168.69 billion, a PE ratio of 22.63, a PEG ratio of 3.57 and a beta of 0.70.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. International Business Machines had a return on equity of 39.55% and a net margin of 12.13%. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. During the same quarter in the previous year, the business earned $1.36 earnings per share. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities analysts predict that International Business Machines Co. will post 10.04 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Shareholders of record on Friday, February 9th were paid a $1.66 dividend. This represents a $6.64 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date was Thursday, February 8th. International Business Machines’s dividend payout ratio is currently 81.67%.

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.