International Business Machines (NYSE:IBM) Shares Up 0.2%

International Business Machines Co. (NYSE:IBM) rose 0.2% on Wednesday . The company traded as high as $191.88 and last traded at $191.40. Approximately 247,334 shares changed hands during trading, a decline of 94% from the average daily volume of 4,357,179 shares. The stock had previously closed at $190.99.

Wall Street Analysts Forecast Growth

IBM has been the subject of several research reports. BNP Paribas assumed coverage on International Business Machines in a research note on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 target price for the company. Stifel Nicolaus raised their price target on shares of International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Morgan Stanley decreased their target price on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Finally, Royal Bank of Canada raised their price target on shares of International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $184.93.

International Business Machines Price Performance

The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The stock’s fifty day moving average is $179.64 and its 200-day moving average is $180.86. The stock has a market capitalization of $176.50 billion, a PE ratio of 21.68, a P/E/G ratio of 4.24 and a beta of 0.71.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.27. The firm had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. International Business Machines’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.18 EPS. As a group, equities analysts predict that International Business Machines Co. will post 10.06 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be given a dividend of $1.67 per share. The ex-dividend date is Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.48%. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Institutional Investors Weigh In On International Business Machines

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. American Investment Services Inc. grew its position in shares of International Business Machines by 18.2% during the second quarter. American Investment Services Inc. now owns 17,895 shares of the technology company’s stock worth $3,095,000 after buying an additional 2,755 shares in the last quarter. Evergreen Capital Management LLC increased its position in International Business Machines by 16.2% during the second quarter. Evergreen Capital Management LLC now owns 12,687 shares of the technology company’s stock worth $2,194,000 after buying an additional 1,768 shares during the period. Public Sector Pension Investment Board lifted its stake in International Business Machines by 72.1% in the second quarter. Public Sector Pension Investment Board now owns 35,496 shares of the technology company’s stock valued at $6,139,000 after buying an additional 14,874 shares during the last quarter. Harmony Asset Management LLC boosted its holdings in shares of International Business Machines by 57.4% in the second quarter. Harmony Asset Management LLC now owns 3,684 shares of the technology company’s stock valued at $637,000 after acquiring an additional 1,343 shares during the period. Finally, DRW Securities LLC acquired a new position in shares of International Business Machines in the 2nd quarter valued at $1,334,000. 58.96% of the stock is owned by hedge funds and other 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.