International Business Machines (NYSE:IBM) Stock Price Down 1% – Here’s Why

by · The Markets Daily

Shares of International Business Machines Co. (NYSE:IBM – Get Free Report) were down 1% on Monday . The company traded as low as $206.01 and last traded at $206.18. Approximately 492,298 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 4,252,890 shares. The stock had previously closed at $208.25.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on IBM shares. Stifel Nicolaus lifted their price objective on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Morgan Stanley dropped their price target on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. UBS Group raised their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. Finally, Bank of America raised their price objective on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, International Business Machines presently has an average rating of “Hold” and a consensus price target of $208.12.

Check Out Our Latest Analysis on International Business Machines

International Business Machines Price Performance

The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The firm has a market cap of $191.21 billion, a PE ratio of 30.01, a P/E/G ratio of 4.64 and a beta of 0.71. The firm’s fifty day simple moving average is $216.84 and its two-hundred day simple moving average is $191.35.

International Business Machines (NYSE:IBM – Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter in the previous year, the firm earned $2.20 earnings per share. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, research analysts expect that International Business Machines Co. will post 10.11 EPS for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.23%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 97.23%.

Institutional Investors Weigh In On International Business Machines

Several institutional investors and hedge funds have recently modified their holdings of IBM. Stockman Wealth Management Inc. increased its position in International Business Machines by 1.3% during the third quarter. Stockman Wealth Management Inc. now owns 72,708 shares of the technology company’s stock valued at $16,074,000 after acquiring an additional 925 shares during the last quarter. River Global Investors LLP increased its position in International Business Machines by 4.8% during the third quarter. River Global Investors LLP now owns 6,975 shares of the technology company’s stock valued at $1,542,000 after acquiring an additional 322 shares during the last quarter. Tyler Stone Wealth Management increased its position in International Business Machines by 121.5% during the third quarter. Tyler Stone Wealth Management now owns 2,428 shares of the technology company’s stock valued at $537,000 after acquiring an additional 1,332 shares during the last quarter. Round Rock Advisors LLC increased its position in International Business Machines by 5.2% during the third quarter. Round Rock Advisors LLC now owns 13,622 shares of the technology company’s stock valued at $3,012,000 after acquiring an additional 678 shares during the last quarter. Finally, Axxcess Wealth Management LLC increased its position in International Business Machines by 10.7% during the third quarter. Axxcess Wealth Management LLC now owns 17,666 shares of the technology company’s stock valued at $3,905,000 after acquiring an additional 1,705 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Company Profile

(Get Free Report)

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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