International Business Machines (NYSE:IBM) Shares Down 0.8%

International Business Machines Co. (NYSE:IBM) fell 0.8% on Tuesday . The stock traded as low as $165.30 and last traded at $166.16. 959,819 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 4,960,782 shares. The stock had previously closed at $167.43.

Analysts Set New Price Targets

IBM has been the topic of a number of analyst reports. Bank of America upped their target price on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Royal Bank of Canada raised their price objective on International Business Machines from $179.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Evercore ISI upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and upped their price target for the company from $165.00 to $200.00 in a report on Friday, January 19th. JPMorgan Chase & Co. cut their price objective on International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Finally, UBS Group boosted their price target on shares of International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a research report on Monday, April 22nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, International Business Machines currently has an average rating of “Hold” and a consensus target price of $184.08.

International Business Machines Stock Performance

The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13. The business’s fifty day moving average price is $187.19 and its two-hundred day moving average price is $170.72. The stock has a market capitalization of $152.36 billion, a P/E ratio of 18.82, a P/E/G ratio of 4.08 and a beta of 0.70.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Tuesday, April 30th. 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 net margin of 13.18% and a return on equity of 40.21%. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.53 billion. During the same quarter in the previous year, the business posted $1.36 earnings per share. The business’s revenue was up 1.5% compared to the same quarter last year. As a group, sell-side analysts forecast that International Business Machines Co. will post 9.99 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 4.02%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s payout ratio is 75.20%.

Institutional Investors Weigh In On International Business Machines

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of International Business Machines by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 82,076,195 shares of the technology company’s stock worth $11,515,290,000 after buying an additional 365,388 shares in the last quarter. Morgan Stanley increased its position in International Business Machines by 13.4% during the 3rd quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock valued at $2,280,968,000 after purchasing an additional 1,919,490 shares during the period. Northern Trust Corp raised its holdings in shares of International Business Machines by 4.2% in the 3rd quarter. Northern Trust Corp now owns 9,970,674 shares of the technology company’s stock valued at $1,398,886,000 after purchasing an additional 404,948 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of International Business Machines by 10.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 8,691,369 shares of the technology company’s stock worth $1,219,399,000 after purchasing an additional 807,357 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of International Business Machines by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,465,214 shares of the technology company’s stock valued at $1,048,631,000 after purchasing an additional 61,028 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

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.