International Business Machines (NYSE:IBM) Trading Down 1.1% Following Analyst Downgrade

Shares of International Business Machines Co. (NYSE:IBM) dropped 1.1% during mid-day trading on Friday after JPMorgan Chase & Co. lowered their price target on the stock from $190.00 to $185.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. International Business Machines traded as low as $165.73 and last traded at $167.01. Approximately 3,196,762 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 4,933,272 shares. The stock had previously closed at $168.91.

IBM has been the topic of a number of other reports. BMO Capital Markets cut their price target on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating on the stock in a research note on Thursday. Jefferies Financial Group cut their target price on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a research note on Tuesday. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Tuesday. Evercore ISI raised International Business Machines from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $165.00 to $200.00 in a research report on Friday, January 19th. Finally, UBS Group lifted their target price on International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $180.31.

Institutional Investors Weigh In On International Business Machines

Several institutional investors have recently added to or reduced their stakes in IBM. Naples Money Management LLC purchased a new position in shares of International Business Machines during the fourth quarter worth about $28,000. Creekmur Asset Management LLC purchased a new position in International Business Machines during the 4th quarter worth approximately $29,000. Ables Iannone Moore & Associates Inc. purchased a new position in International Business Machines during the 4th quarter worth approximately $31,000. Financial Synergies Wealth Advisors Inc. increased its position in International Business Machines by 164.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after buying an additional 123 shares during the period. Finally, Creative Capital Management Investments LLC boosted its holdings in shares of International Business Machines by 56.9% in the first quarter. Creative Capital Management Investments LLC now owns 204 shares of the technology company’s stock valued at $39,000 after acquiring an additional 74 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Down 1.3 %

The business’s 50-day moving average price is $188.00 and its 200-day moving average price is $169.97. The firm has a market capitalization of $152.78 billion, a PE ratio of 18.91, a price-to-earnings-growth 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.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. During the same period last year, the firm posted $1.36 EPS. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, analysts expect that International Business Machines Co. will post 10.04 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Shareholders of record on Friday, February 9th were paid a dividend of $1.66 per share. This represents a $6.64 annualized dividend and a yield of 3.98%. The ex-dividend date of this dividend was Thursday, February 8th. International Business Machines’s dividend payout ratio 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.