International Business Machines Co. (NYSE:IBM - Get Free Report) was up 0.8% on Thursday after Bank of America raised their price target on the stock from $250.00 to $260.00. Bank of America currently has a buy rating on the stock. International Business Machines traded as high as $225.85 and last traded at $225.15. Approximately 600,635 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 3,357,243 shares. The stock had previously closed at $223.26.
Several other research firms also recently issued reports on IBM. Morgan Stanley upped their price objective on International Business Machines from $208.00 to $222.00 and gave the stock an "equal weight" rating in a report on Monday, December 16th. DZ Bank cut International Business Machines from a "buy" rating to a "hold" rating and set a $215.00 price target on the stock. in a report on Wednesday, October 2nd. BMO Capital Markets boosted their price objective on International Business Machines from $235.00 to $260.00 and gave the stock a "market perform" rating in a report on Thursday, October 24th. UBS Group raised their target price on shares of International Business Machines from $150.00 to $160.00 and gave the company a "sell" rating in a research note on Tuesday, January 14th. Finally, Jefferies Financial Group boosted their price target on shares of International Business Machines from $200.00 to $245.00 and gave the stock a "hold" rating in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $220.73.
Check Out Our Latest Report on IBM
In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.07% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of IBM. State Street Corp lifted its position in International Business Machines by 2.2% in the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company's stock valued at $12,307,940,000 after acquiring an additional 1,200,803 shares in the last quarter. Legal & General Group Plc raised its stake in shares of International Business Machines by 4.1% in the 2nd quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company's stock valued at $1,467,974,000 after purchasing an additional 330,694 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of International Business Machines by 6.4% in the second quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company's stock valued at $1,274,074,000 after purchasing an additional 444,698 shares in the last quarter. FMR LLC boosted its position in shares of International Business Machines by 6.0% during the third quarter. FMR LLC now owns 5,195,933 shares of the technology company's stock worth $1,148,717,000 after buying an additional 294,276 shares during the period. Finally, Swiss National Bank grew its holdings in shares of International Business Machines by 0.5% during the third quarter. Swiss National Bank now owns 2,726,700 shares of the technology company's stock worth $602,819,000 after buying an additional 12,400 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.
The firm has a market cap of $208.63 billion, a price-to-earnings ratio of 32.84, a price-to-earnings-growth ratio of 4.80 and a beta of 0.74. The stock has a 50-day moving average of $223.60 and a 200-day moving average of $211.90. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06.
International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts' consensus estimates of $2.27 by $0.03. The business had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm's revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.20 earnings per share. As a group, analysts anticipate that International Business Machines Co. will post 10.16 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were issued a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines's payout ratio is 97.23%.
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.
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