International Business Machines (NYSE:IBM) Shares Down 1.7% – Here’s What Happened

International Business Machines Corporation (NYSE:IBM)’s stock price dropped 1.7% during trading on Tuesday . The company traded as low as $300.42 and last traded at $303.4350. Approximately 3,364,846 shares traded hands during mid-day trading, a decline of 30% from the average daily volume of 4,794,810 shares. The stock had previously closed at $308.66.

Wall Street Analysts Forecast Growth

IBM has been the topic of several recent research reports. Bank of America raised their target price on International Business Machines from $310.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Royal Bank Of Canada lowered their target price on International Business Machines from $315.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, October 23rd. Stifel Nicolaus increased their price objective on International Business Machines from $295.00 to $325.00 and gave the company a “buy” rating in a research report on Tuesday, December 9th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of International Business Machines in a report on Wednesday, December 10th. Finally, Wall Street Zen raised shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Sunday, October 26th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $293.38.

International Business Machines Stock Down 1.0%

The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.89 and a current ratio of 0.93. The company has a market cap of $280.79 billion, a P/E ratio of 35.93, a PEG ratio of 3.02 and a beta of 0.69. The firm’s 50-day simple moving average is $300.57 and its 200 day simple moving average is $279.30.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 22nd. The technology company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.20. International Business Machines had a net margin of 12.09% and a return on equity of 37.76%. The business had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.10 billion. During the same quarter in the prior year, the company earned $2.30 EPS. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. On average, research analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Monday, November 10th were issued a dividend of $1.68 per share. The ex-dividend date was Monday, November 10th. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.2%. International Business Machines’s dividend payout ratio (DPR) is presently 80.38%.

Hedge Funds Weigh In On International Business Machines

A number of large investors have recently bought and sold shares of the company. KPP Advisory Services LLC increased its position in International Business Machines by 1.7% during the 3rd quarter. KPP Advisory Services LLC now owns 2,069 shares of the technology company’s stock valued at $584,000 after purchasing an additional 34 shares during the period. CFS Investment Advisory Services LLC increased its position in shares of International Business Machines by 0.4% during the third quarter. CFS Investment Advisory Services LLC now owns 9,359 shares of the technology company’s stock worth $2,878,000 after buying an additional 34 shares during the period. Marco Investment Management LLC increased its position in shares of International Business Machines by 0.3% during the third quarter. Marco Investment Management LLC now owns 10,774 shares of the technology company’s stock worth $3,040,000 after buying an additional 34 shares during the period. Altman Advisors Inc. raised its stake in International Business Machines by 0.3% during the third quarter. Altman Advisors Inc. now owns 9,929 shares of the technology company’s stock worth $2,802,000 after buying an additional 34 shares during the last quarter. Finally, MA Private Wealth grew its holdings in International Business Machines by 1.5% during the 3rd quarter. MA Private Wealth now owns 2,242 shares of the technology company’s stock worth $633,000 after acquiring an additional 34 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

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.