International Business Machines (NYSE:IBM) Shares Down 1.1% – Time to Sell?

International Business Machines Corporation (NYSE:IBM) shares were down 1.1% during trading on Friday . The company traded as low as $267.68 and last traded at $271.77. Approximately 5,094,060 shares traded hands during trading, a decline of 28% from the average daily volume of 7,122,593 shares. The stock had previously closed at $274.85.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on IBM shares. Needham & Company LLC started coverage on International Business Machines in a research note on Wednesday, June 3rd. They set a “buy” rating for the company. JPMorgan Chase & Co. lowered their price objective on International Business Machines from $317.00 to $283.00 and set a “neutral” rating for the company in a research note on Wednesday, March 18th. Jefferies Financial Group lowered their price objective on International Business Machines from $370.00 to $320.00 and set a “buy” rating for the company in a research note on Monday, April 20th. BMO Capital Markets lowered their price objective on International Business Machines from $290.00 to $270.00 and set a “market perform” rating for the company in a research note on Thursday, April 23rd. Finally, HSBC upgraded International Business Machines from a “reduce” rating to a “hold” rating and boosted their price target for the stock from $218.00 to $231.00 in a research report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $304.17.

International Business Machines Stock Down 1.1%

The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75. The stock has a 50-day simple moving average of $250.02 and a 200-day simple moving average of $270.34. The company has a market cap of $255.43 billion, a price-to-earnings ratio of 24.03, a price-to-earnings-growth ratio of 2.82 and a beta of 0.67.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.10. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The company had revenue of $15.92 billion during the quarter, compared to analyst estimates of $15.60 billion. During the same quarter in the previous year, the firm posted $1.60 EPS. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. As a group, analysts predict that International Business Machines Corporation will post 12.38 EPS for the current year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were issued a $1.69 dividend. This represents a $6.76 annualized dividend and a dividend yield of 2.5%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.68. The ex-dividend date was Friday, May 8th. International Business Machines’s payout ratio is currently 59.77%.

Institutional Trading of International Business Machines

Institutional investors have recently modified their holdings of the company. Family CFO Inc acquired a new stake in shares of International Business Machines in the fourth quarter valued at $25,000. Basepoint Wealth LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at $25,000. Portus Wealth Advisors LLC acquired a new stake in shares of International Business Machines in the first quarter valued at $26,000. Joseph Group Capital Management acquired a new stake in shares of International Business Machines in the fourth quarter valued at $28,000. Finally, Cornerstone Financial Management LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at $28,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.