International Business Machines (NYSE:IBM) Trading Up 0.8% After Analyst Upgrade

International Business Machines Co. (NYSE:IBM) shares rose 0.8% during trading 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 traded hands during trading, a decline of 82% from the average daily volume of 3,357,243 shares. The stock had previously closed at $223.26.

A number of other analysts also recently weighed in on IBM. The Goldman Sachs Group upped their target price on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. UBS Group upped their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a report on Thursday, October 24th. Jefferies Financial Group boosted their target price on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Finally, BMO Capital Markets increased their price target on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, International Business Machines presently has an average rating of “Hold” and a consensus price target of $220.73.

Insider Transactions at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. This trade represents a 12.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.07% of the company’s stock.

Hedge Funds Weigh In On International Business Machines

Hedge funds have recently made changes to their positions in the stock. Hazlett Burt & Watson Inc. raised its position in shares of International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after acquiring an additional 116 shares in the last quarter. Hara Capital LLC acquired a new position in International Business Machines in the third quarter valued at approximately $29,000. Avondale Wealth Management boosted its holdings in shares of International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after buying an additional 56 shares in the last quarter. Valued Wealth Advisors LLC grew its position in shares of International Business Machines by 134.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after buying an additional 90 shares during the period. Finally, Modus Advisors LLC bought a new stake in shares of International Business Machines in the 4th quarter valued at $40,000. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Down 0.6 %

The company has a market cap of $207.75 billion, a price-to-earnings ratio of 32.71, a P/E/G ratio of 4.78 and a beta of 0.74. The stock’s 50-day moving average is $223.94 and its 200-day moving average is $212.00. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. The business had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.20 EPS. On average, analysts anticipate that International Business Machines Co. will post 10.16 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were issued a dividend of $1.67 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 2.97%. International Business Machines’s dividend payout ratio (DPR) is currently 97.23%.

About International Business Machines

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.