International Business Machines Corp. (NYSE:IBM) insider Diane J. Gherson sold 5,000 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $156.00, for a total value of $780,000.00. Following the transaction, the insider now directly owns 20,581 shares of the company’s stock, valued at $3,210,636. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of International Business Machines Corp. (NYSE:IBM) traded down $1.20 during mid-day trading on Wednesday, hitting $158.12. The company had a trading volume of 3,615,496 shares, compared to its average volume of 5,821,120. International Business Machines Corp. has a one year low of $139.13 and a one year high of $179.00. The company has a quick ratio of 1.29, a current ratio of 1.33 and a debt-to-equity ratio of 2.25. The stock has a market capitalization of $146,470.00, a P/E ratio of 13.13, a PEG ratio of 2.34 and a beta of 0.94.
International Business Machines (NYSE:IBM) last released its quarterly earnings results on Thursday, January 18th. The technology company reported $5.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $5.17 by $0.01. International Business Machines had a return on equity of 69.48% and a net margin of 7.27%. The business had revenue of $22.54 billion for the quarter, compared to the consensus estimate of $22.03 billion. During the same quarter last year, the business posted $5.01 earnings per share. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. sell-side analysts predict that International Business Machines Corp. will post 13.83 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Saturday, March 10th. Shareholders of record on Friday, February 9th were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $6.00 dividend on an annualized basis and a yield of 3.79%. International Business Machines’s payout ratio is 49.83%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IBM. BlackRock Inc. grew its stake in shares of International Business Machines by 5.4% during the fourth quarter. BlackRock Inc. now owns 57,755,152 shares of the technology company’s stock valued at $8,860,797,000 after buying an additional 2,960,682 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of International Business Machines by 3.7% during the second quarter. Vanguard Group Inc. now owns 62,228,040 shares of the technology company’s stock valued at $9,572,538,000 after buying an additional 2,241,818 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of International Business Machines by 181.2% during the fourth quarter. Renaissance Technologies LLC now owns 3,115,200 shares of the technology company’s stock valued at $477,934,000 after buying an additional 2,007,513 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of International Business Machines by 151.2% during the second quarter. Nordea Investment Management AB now owns 3,250,047 shares of the technology company’s stock valued at $499,955,000 after buying an additional 1,956,033 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. bought a new position in shares of International Business Machines during the fourth quarter valued at about $247,541,000. Institutional investors and hedge funds own 57.10% of the company’s stock.
IBM has been the subject of several research reports. Vetr raised International Business Machines from a “buy” rating to a “strong-buy” rating and set a $165.26 price objective for the company in a report on Wednesday, November 15th. Zacks Investment Research lowered International Business Machines from a “hold” rating to a “sell” rating in a report on Tuesday, December 19th. Societe Generale set a $149.00 price target on International Business Machines and gave the stock a “sell” rating in a report on Friday, January 19th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $152.00 price target on shares of International Business Machines in a report on Friday, January 19th. Finally, Morgan Stanley raised their price target on International Business Machines to $198.00 and gave the stock an “overweight” rating in a report on Friday, January 19th. Six analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $166.01.
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International Business Machines Company Profile
International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.
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