International Business Machines (NYSE:IBM) Stock Price Up 1.5%

International Business Machines Co. (NYSE:IBM)’s stock price shot up 1.5% on Tuesday . The stock traded as high as $185.71 and last traded at $183.97. 1,684,133 shares were traded during mid-day trading, a decline of 65% from the average session volume of 4,814,588 shares. The stock had previously closed at $181.25.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IBM. Sanford C. Bernstein lifted their price objective on shares of International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a research note on Thursday, March 7th. Royal Bank of Canada lifted their price objective on shares of International Business Machines from $179.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. BMO Capital Markets lifted their price objective on shares of International Business Machines from $155.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, January 25th. Stifel Nicolaus lifted their price objective on shares of International Business Machines from $144.00 to $183.00 and gave the company a “buy” rating in a research note on Monday, January 22nd. Finally, StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $178.08.

International Business Machines Stock Up 1.4 %

The stock has a 50 day moving average of $188.62 and a 200-day moving average of $168.13. The firm has a market capitalization of $168.52 billion, a P/E ratio of 22.63, a PEG ratio of 3.57 and a beta of 0.70. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.93 and a current ratio of 0.96.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, January 24th. The technology company reported $3.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.78 by $0.09. International Business Machines had a return on equity of 39.55% and a net margin of 12.13%. The business had revenue of $17.38 billion for the quarter, compared to analysts’ expectations of $17.29 billion. During the same period in the previous year, the business posted $3.60 EPS. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. Research analysts predict that International Business Machines Co. will post 10.07 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 9th. Shareholders of record on Friday, February 9th were given a dividend of $1.66 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $6.64 annualized dividend and a yield of 3.61%. International Business Machines’s payout ratio is presently 81.67%.

Institutional Investors Weigh In On International Business Machines

Several hedge funds have recently bought and sold shares of the stock. Naples Money Management LLC bought a new stake in shares of International Business Machines in the 4th quarter worth approximately $28,000. Cornerstone Planning Group LLC purchased a new position in shares of International Business Machines in the second quarter worth $28,000. Creekmur Asset Management LLC purchased a new position in shares of International Business Machines in the fourth quarter worth $29,000. Live Oak Investment Partners purchased a new position in shares of International Business Machines in the fourth quarter worth $30,000. Finally, Briaud Financial Planning Inc purchased a new position in shares of International Business Machines in the third quarter worth $31,000. 58.96% of the stock is currently owned by 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.