International Business Machines (NYSE:IBM) Shares Down 1.2% – Here’s What Happened

International Business Machines Corporation (NYSE:IBM)’s stock price fell 1.2% during mid-day trading on Tuesday . The stock traded as low as $230.20 and last traded at $232.02. 4,541,110 shares were traded during mid-day trading, a decline of 41% from the average session volume of 7,743,483 shares. The stock had previously closed at $234.77.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Robert W. Baird assumed coverage on International Business Machines in a research note on Tuesday, July 21st. They issued a “neutral” rating and a $230.00 price objective on the stock. Wedbush set a $350.00 price target on International Business Machines in a research note on Tuesday, June 2nd. Roth Capital reiterated a “buy” rating on shares of International Business Machines in a research report on Wednesday, June 3rd. Jefferies Financial Group cut their price objective on International Business Machines from $320.00 to $260.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. Finally, Stifel Nicolaus reduced their target price on shares of International Business Machines from $290.00 to $235.00 and set a “buy” rating on the stock in a research note on Monday, July 20th. Sixteen equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $265.90.

International Business Machines Price Performance

The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.63. The stock’s 50-day moving average price is $240.81 and its 200-day moving average price is $246.86. The company has a market capitalization of $218.59 billion, a price-to-earnings ratio of 20.59, a price-to-earnings-growth ratio of 2.24 and a beta of 0.71.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 22nd. The technology company reported $2.93 earnings per share for the quarter, hitting the consensus estimate of $2.93. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. The firm had revenue of $17.16 billion during the quarter, compared to analysts’ expectations of $17.46 billion. During the same quarter in the previous year, the company posted $2.80 EPS. International Business Machines’s revenue was up 1.1% on a year-over-year basis. Equities research analysts anticipate that International Business Machines Corporation will post 12.33 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be given a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Monday, August 10th. International Business Machines’s dividend payout ratio (DPR) is presently 59.98%.

Insider Activity at International Business Machines

In other news, SVP Robert Thomas sold 25,000 shares of International Business Machines stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $230.32, for a total transaction of $5,758,000.00. Following the completion of the sale, the senior vice president owned 47,800 shares in the company, valued at $11,009,296. The trade was a 34.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.27% of the stock is currently owned by corporate insiders.

Institutional Trading of International Business Machines

A number of institutional investors have recently bought and sold shares of IBM. Orca Wealth Management LLC grew its stake in shares of International Business Machines by 3.7% during the fourth quarter. Orca Wealth Management LLC now owns 975 shares of the technology company’s stock worth $285,000 after purchasing an additional 35 shares during the period. Friday Financial grew its position in shares of International Business Machines by 1.9% during the 2nd quarter. Friday Financial now owns 1,903 shares of the technology company’s stock worth $583,000 after buying an additional 35 shares during the period. First Command Advisory Services Inc. increased its stake in shares of International Business Machines by 1.1% in the 4th quarter. First Command Advisory Services Inc. now owns 3,459 shares of the technology company’s stock valued at $1,025,000 after acquiring an additional 36 shares during the last quarter. Washington Trust Bank boosted its stake in International Business Machines by 2.2% during the 4th quarter. Washington Trust Bank now owns 1,712 shares of the technology company’s stock worth $507,000 after acquiring an additional 37 shares during the last quarter. Finally, HORAN Wealth LLC grew its holdings in International Business Machines by 1.3% during the fourth quarter. HORAN Wealth LLC now owns 2,851 shares of the technology company’s stock valued at $844,000 after purchasing an additional 37 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.