International Business Machines (NYSE:IBM) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of International Business Machines (NYSE:IBM) from a hold rating to a buy rating in a research report sent to investors on Tuesday.

IBM has been the topic of several other reports. Oppenheimer assumed coverage on shares of International Business Machines in a research report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price target on the stock. Wedbush reiterated an “outperform” rating and set a $300.00 target price on shares of International Business Machines in a report on Wednesday, May 7th. Citigroup reissued an “outperform” rating on shares of International Business Machines in a report on Saturday. KGI Securities set a $242.00 price objective on International Business Machines and gave the company a “hold” rating in a research note on Thursday, April 24th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $248.50.

International Business Machines Stock Performance

IBM opened at $258.55 on Tuesday. International Business Machines has a 1-year low of $163.53 and a 1-year high of $266.45. The stock has a market cap of $240.30 billion, a P/E ratio of 40.34, a P/E/G ratio of 5.81 and a beta of 0.64. The stock’s 50 day simple moving average is $243.26 and its 200 day simple moving average is $235.35. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.18. The business had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The business’s revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.68 EPS. As a group, equities analysts anticipate that International Business Machines will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be paid a dividend of $1.68 per share. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.60%. International Business Machines’s payout ratio is currently 115.66%.

Insider Buying and Selling

In other news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the transaction, the senior vice president now directly owns 45,007 shares in the company, valued at $11,387,221.07. This trade represents a 37.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Institutional Trading of International Business Machines

A number of institutional investors and hedge funds have recently bought and sold shares of IBM. Christopher J. Hasenberg Inc purchased a new position in shares of International Business Machines in the 1st quarter valued at $27,000. SSA Swiss Advisors AG purchased a new position in International Business Machines in the first quarter valued at about $28,000. Compass Financial Services Inc acquired a new position in shares of International Business Machines during the fourth quarter worth about $26,000. Dagco Inc. purchased a new stake in shares of International Business Machines in the first quarter worth about $31,000. Finally, Vision Financial Markets LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

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.