International Business Machines (NYSE:IBM) Trading 1.5% Higher Following Analyst Upgrade

International Business Machines Co. (NYSE:IBM) shares traded up 1.5% during trading on Friday after Sanford C. Bernstein raised their price target on the stock from $210.00 to $215.00. Sanford C. Bernstein currently has a market perform rating on the stock. International Business Machines traded as high as $223.58 and last traded at $223.19. 1,513,678 shares traded hands during trading, a decline of 25% from the average session volume of 2,005,902 shares. The stock had previously closed at $219.94.

Several other equities analysts have also recently weighed in on IBM. BMO Capital Markets raised their price objective on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. Morgan Stanley boosted their price target on International Business Machines from $208.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday, December 16th. The Goldman Sachs Group increased their price objective on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. Stifel Nicolaus lifted their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $210.65.

Insider Transactions at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.07% of the company’s stock.

Institutional Investors Weigh In On International Business Machines

Large investors have recently added to or reduced their stakes in the stock. Hazlett Burt & Watson Inc. grew its holdings in shares of International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after purchasing an additional 116 shares in the last quarter. Hara Capital LLC bought a new stake in International Business Machines during the third quarter worth about $29,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in International Business Machines during the second quarter worth about $36,000. Modus Advisors LLC acquired a new position in shares of International Business Machines in the 4th quarter valued at approximately $40,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of International Business Machines during the 3rd quarter worth approximately $43,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Up 1.5 %

The firm’s 50-day simple moving average is $220.34 and its 200 day simple moving average is $206.80. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The firm has a market capitalization of $206.37 billion, a price-to-earnings ratio of 32.49, a P/E/G ratio of 5.18 and a beta of 0.73.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.20 earnings per share. Equities analysts expect that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were paid a dividend of $1.67 per share. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.99%. International Business Machines’s payout ratio is presently 97.23%.

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.