International Business Machines (NYSE:IBM) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of International Business Machines (NYSE:IBM) from a buy rating to a hold rating in a research report released on Wednesday morning.

IBM has been the topic of several other research reports. Stifel Nicolaus lifted their target price 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research note on Thursday, October 24th. Evercore ISI increased their target price on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. BMO Capital Markets raised their target price on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group boosted their price target on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Three 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 data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $208.12.

International Business Machines Price Performance

Shares of International Business Machines stock opened at $223.02 on Wednesday. The firm has a market cap of $206.21 billion, a PE ratio of 32.46, a P/E/G ratio of 4.72 and a beta of 0.71. The business has a 50-day moving average price of $219.45 and a 200 day moving average price of $195.21. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. International Business Machines has a twelve month low of $153.92 and a twelve month high of $237.37.

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

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Insider Buying and Selling

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the 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 completion of the transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.07% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Meeder Asset Management Inc. boosted its holdings in International Business Machines by 40.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after acquiring an additional 166 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in shares of International Business Machines in the second quarter valued at approximately $7,160,000. Philip James Wealth Mangement LLC acquired a new position in shares of International Business Machines in the third quarter valued at approximately $5,117,000. Aljian Capital Management LLC purchased a new stake in International Business Machines during the 3rd quarter worth approximately $611,000. Finally, Focused Wealth Management Inc lifted its holdings in International Business Machines by 52.2% during the 3rd quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company’s stock worth $2,504,000 after buying an additional 3,887 shares in the last quarter. 58.96% of the stock is currently 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.