International Business Machines (NYSE:IBM) Stock Falls 1.1% – Here’s What Happened

International Business Machines Corporation (NYSE:IBM) fell 1.1% on Tuesday. The stock traded as low as $244.61 and last traded at $249.8260. Approximately 3,428,726 shares changed hands during trading, a decline of 53% from the average session volume of 7,365,098 shares. The stock had previously closed at $252.51.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on IBM. Susquehanna upped their price target on International Business Machines from $235.00 to $256.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 21st. Royal Bank Of Canada reissued an “outperform” rating and set a $270.00 price objective on shares of International Business Machines in a report on Thursday, October 22nd. Morgan Stanley raised their price objective on International Business Machines from $238.00 to $240.00 and gave the company an “equal weight” rating in a research note on Thursday, October 22nd. BMO Capital Markets boosted their target price on International Business Machines from $230.00 to $265.00 and gave the stock a “market perform” rating in a report on Thursday, October 22nd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $300.00 target price on shares of International Business Machines in a research report on Thursday, October 22nd. Nineteen equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $266.12.

International Business Machines Stock Down 1.1%

The firm’s 50-day simple moving average is $235.51 and its 200-day simple moving average is $249.68. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.80 and a current ratio of 0.85. The company has a market capitalization of $236.12 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 2.49 and a beta of 0.73.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 21st. The technology company reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.10. International Business Machines had a net margin of 15.99% and a return on equity of 34.37%. The business had revenue of $17.10 billion during the quarter, compared to analyst estimates of $16.82 billion. During the same quarter in the prior year, the business earned $2.65 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. Sell-side analysts forecast that International Business Machines Corporation will post 12.41 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Tuesday, November 10th will be issued a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, November 10th. International Business Machines’s dividend payout ratio (DPR) is presently 57.63%.

Insider Transactions at International Business Machines

In related news, SVP Robert Thomas sold 25,000 shares of the company’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $230.32, for a total value of $5,758,000.00. Following the sale, the senior vice president owned 47,800 shares of the company’s stock, valued at $11,009,296. The trade was a 34.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.27% of the stock is owned by company insiders.

Institutional Investors Weigh In On International Business Machines

Several hedge funds have recently bought and sold shares of IBM. BlackRock Inc. bought a new position in International Business Machines in the 2nd quarter valued at about $21,586,659,000. Bank of America Corp DE bought a new stake in shares of International Business Machines during the second quarter worth approximately $4,214,868,000. Bank of New York Mellon Corp bought a new stake in shares of International Business Machines during the second quarter worth approximately $2,606,782,000. Legal & General Group Plc acquired a new position in shares of International Business Machines in the second quarter valued at approximately $1,874,733,000. Finally, Wellington Management Group LLP grew its position in shares of International Business Machines by 2,362.2% in the second quarter. Wellington Management Group LLP now owns 6,549,393 shares of the technology company’s stock valued at $1,841,755,000 after purchasing an additional 6,283,395 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Company Profile

International Business Machines Corporation (NYSE:IBM), commonly known as IBM, is a global technology and consulting company that helps organizations modernize their information technology and business operations. Its offerings include hybrid cloud solutions, artificial intelligence software and services, enterprise software, IT infrastructure, cybersecurity, data analytics, and technology consulting.

IBM provides products and services to businesses, governments, and other institutions across industries and regions worldwide.