International Business Machines (NYSE:IBM) Shares Up 0.7% After Earnings Beat

International Business Machines Co. (NYSE:IBM) traded up 0.7% during mid-day trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $184.16 and last traded at $183.41. 1,449,024 shares changed hands during trading, a decline of 69% from the average session volume of 4,728,000 shares. The stock had previously closed at $182.19.

The technology company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. International Business Machines had a return on equity of 39.55% and a net margin of 12.13%. International Business Machines’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.36 earnings per share.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 9th. Investors of record on Friday, February 9th were issued a dividend of $1.66 per share. 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 payout ratio is currently 81.67%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Bank of America boosted their price objective on International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. BMO Capital Markets upped their target price on International Business Machines from $155.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, January 25th. Jefferies Financial Group decreased their target price on International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a research report on Tuesday. Royal Bank of Canada upped 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. Finally, 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. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines has an average rating of “Hold” and an average price target of $177.23.

Institutional Investors Weigh In On International Business Machines

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Summit Global Investments bought a new position in International Business Machines in the 3rd quarter valued at about $235,000. Ziegler Capital Management LLC lifted its position in shares of International Business Machines by 0.8% during the 3rd quarter. Ziegler Capital Management LLC now owns 21,863 shares of the technology company’s stock worth $3,067,000 after buying an additional 172 shares in the last quarter. Private Trust Co. NA lifted its position in shares of International Business Machines by 5.6% during the 3rd quarter. Private Trust Co. NA now owns 11,815 shares of the technology company’s stock worth $1,658,000 after buying an additional 627 shares in the last quarter. Wagner Wealth Management LLC lifted its position in shares of International Business Machines by 1.4% during the 3rd quarter. Wagner Wealth Management LLC now owns 22,375 shares of the technology company’s stock worth $3,139,000 after buying an additional 311 shares in the last quarter. Finally, Holland Advisory Services Inc. bought a new position in shares of International Business Machines during the 3rd quarter worth approximately $311,000. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Performance

The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 2.22. The stock has a market cap of $168.77 billion, a P/E ratio of 22.56, a PEG ratio of 3.57 and a beta of 0.70. The company’s 50-day simple moving average is $188.35 and its 200 day simple moving average is $169.88.

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.