International Business Machines (NYSE:IBM) Trading Down 2.1% – Here’s What Happened

Shares of International Business Machines Corporation (NYSE:IBM) dropped 2.1% during trading on Monday . The company traded as low as $251.57 and last traded at $253.38. Approximately 6,109,239 shares traded hands during mid-day trading, a decline of 1% from the average daily volume of 6,151,647 shares. The stock had previously closed at $258.85.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IBM. Weiss Ratings reiterated a “buy (b)” rating on shares of International Business Machines in a research note on Thursday, January 22nd. Argus set a $360.00 price target on International Business Machines in a research note on Friday, January 30th. Jefferies Financial Group reiterated a “buy” rating on shares of International Business Machines in a research note on Monday, February 23rd. Erste Group Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $350.00 price target on shares of International Business Machines in a research report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $320.87.

International Business Machines Price Performance

The company has a market cap of $237.68 billion, a P/E ratio of 22.72, a P/E/G ratio of 2.59 and a beta of 0.73. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.92 and a current ratio of 0.96. The firm’s fifty day moving average is $281.73 and its two-hundred day moving average is $284.58.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, January 28th. The technology company reported $4.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.33 by $0.19. International Business Machines had a return on equity of 38.15% and a net margin of 15.69%.The company had revenue of $19.69 billion for the quarter, compared to the consensus estimate of $19.23 billion. During the same quarter last year, the company earned $3.92 EPS. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. As a group, analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 10th will be given a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Tuesday, February 10th. International Business Machines’s payout ratio is currently 60.27%.

Insider Activity at International Business Machines

In other International Business Machines news, Director David N. Farr acquired 1,000 shares of the business’s stock in a transaction on Friday, January 30th. The shares were bought at an average price of $304.00 per share, with a total value of $304,000.00. Following the transaction, the director directly owned 9,258 shares of the company’s stock, valued at $2,814,432. The trade was a 12.11% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael Miebach purchased 434 shares of International Business Machines stock in a transaction that occurred on Wednesday, February 25th. The stock was bought at an average cost of $233.33 per share, for a total transaction of $101,265.22. Following the purchase, the director directly owned 434 shares in the company, valued at $101,265.22. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 1,484 shares of company stock worth $417,157 over the last ninety days. Insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On International Business Machines

A number of hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC grew its position in shares of International Business Machines by 12.4% in the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock worth $4,619,000 after buying an additional 2,323 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in International Business Machines by 10.6% in the second quarter. Sivia Capital Partners LLC now owns 1,938 shares of the technology company’s stock valued at $571,000 after acquiring an additional 186 shares in the last quarter. Vestmark Advisory Solutions Inc. grew its holdings in International Business Machines by 65.7% in the second quarter. Vestmark Advisory Solutions Inc. now owns 1,501 shares of the technology company’s stock worth $443,000 after purchasing an additional 595 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in International Business Machines by 5.1% in the second quarter. Los Angeles Capital Management LLC now owns 4,750 shares of the technology company’s stock worth $1,400,000 after purchasing an additional 231 shares during the last quarter. Finally, HC Advisors LLC acquired a new position in shares of International Business Machines during the second quarter worth $398,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Company Profile

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.