International Business Machines Corp. (NYSE:IBM) shares reached a new 52-week high on Thursday . The company traded as high as $164.95 and last traded at $163.88, with a volume of 7,020,740 shares trading hands. The stock had previously closed at $162.08.

IBM has been the subject of a number of analyst reports. Drexel Hamilton raised their target price on shares of International Business Machines Corp. from $160.00 to $166.00 and gave the company a “buy” rating in a research report on Tuesday, April 19th. Morgan Stanley reaffirmed a “buy” rating and issued a $168.00 target price on shares of International Business Machines Corp. in a research report on Monday, April 18th. Vetr raised shares of International Business Machines Corp. from a “hold” rating to a “buy” rating and set a $159.42 price objective for the company in a research report on Wednesday, June 15th. JMP Securities reissued a “buy” rating and issued a $157.00 price objective on shares of International Business Machines Corp. in a research report on Thursday, June 23rd. Finally, Zacks Investment Research raised shares of International Business Machines Corp. from a “hold” rating to a “buy” rating and set a $179.00 price objective for the company in a research report on Monday, July 18th. Five research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the stock. International Business Machines Corp. presently has a consensus rating of “Hold” and an average price target of $151.84.

The company has a market cap of $154.80 billion and a P/E ratio of 13.17. The stock’s 50 day moving average is $157.74 and its 200 day moving average is $146.92.

International Business Machines Corp. (NYSE:IBM) last posted its quarterly earnings results on Monday, July 18th. The technology company reported $2.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.89 by $0.06. The company had revenue of $20.20 billion for the quarter, compared to the consensus estimate of $20.03 billion. International Business Machines Corp.’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.84 EPS. On average, equities research analysts anticipate that International Business Machines Corp. will post $13.51 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, September 10th. Shareholders of record on Wednesday, August 10th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 3.46%. The ex-dividend date is Monday, August 8th.

In other International Business Machines Corp. news, insider Robert J. Leblanc sold 15,708 shares of the company’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $162.25, for a total transaction of $2,548,623.00. Following the sale, the insider now directly owns 61,374 shares of the company’s stock, valued at $9,957,931.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John E. Kelly III sold 6,698 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $160.89, for a total transaction of $1,077,641.22. Following the sale, the insider now directly owns 33,576 shares in the company, valued at $5,402,042.64. The disclosure for this sale can be found here.

Other large investors have added to or reduced their stakes in the company. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its stake in International Business Machines Corp. by 6.5% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 239,300 shares of the technology company’s stock valued at $32,932,000 after buying an additional 14,500 shares during the period. Taylor Cottrill LLC increased its stake in International Business Machines Corp. by 1.0% in the fourth quarter. Taylor Cottrill LLC now owns 15,245 shares of the technology company’s stock valued at $2,098,000 after buying an additional 150 shares during the period. Usca Ria LLC increased its stake in International Business Machines Corp. by 759.4% in the fourth quarter. Usca Ria LLC now owns 11,705 shares of the technology company’s stock valued at $1,611,000 after buying an additional 10,343 shares during the period. Matrix Asset Advisors Inc. NY increased its stake in International Business Machines Corp. by 4.0% in the fourth quarter. Matrix Asset Advisors Inc. NY now owns 15,345 shares of the technology company’s stock valued at $2,112,000 after buying an additional 585 shares during the period. Finally, State of Wisconsin Investment Board increased its stake in International Business Machines Corp. by 3.3% in the fourth quarter. State of Wisconsin Investment Board now owns 972,006 shares of the technology company’s stock valued at $133,767,000 after buying an additional 30,630 shares during the period.

International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Global Technology Services (GTS), Global Business Services (GBS), Software, Systems Hardware and Global Financing. The Company’s GTS segment offers services, including strategic outsourcing, integrated technology services, cloud and technology support services (maintenance services).

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.