International Business Machines (NYSE:IBM) Shares Up 1.4% – What’s Next?

International Business Machines Corporation (NYSE:IBMGet Free Report)’s share price shot up 1.4% during trading on Tuesday . The stock traded as high as $282.57 and last traded at $281.7830. 7,284,440 shares were traded during trading, a decline of 0% from the average daily volume of 7,301,855 shares. The stock had previously closed at $278.00.

Trending Headlines about International Business Machines

Here are the key news stories impacting International Business Machines this week:

Wall Street Analyst Weigh In

IBM has been the subject of several recent research reports. Oppenheimer cut their price objective on International Business Machines from $380.00 to $320.00 and set an “outperform” rating for the company in a report on Thursday, April 16th. Piper Sandler raised International Business Machines to an “overweight” rating in a research report on Tuesday, June 23rd. Stifel Nicolaus set a $290.00 price target on International Business Machines in a research note on Friday, May 22nd. HSBC upgraded International Business Machines from a “reduce” rating to a “hold” rating and lifted their price target for the company from $218.00 to $231.00 in a report on Tuesday, April 28th. Finally, Morgan Stanley raised International Business Machines from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $306.94.

View Our Latest Report on IBM

International Business Machines Stock Performance

The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.80. The firm’s 50 day moving average is $254.38 and its 200-day moving average is $266.73. The firm has a market cap of $264.85 billion, a price-to-earnings ratio of 24.91, a price-to-earnings-growth ratio of 2.81 and a beta of 0.66.

International Business Machines (NYSE:IBMGet Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.10. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The firm had revenue of $15.92 billion during the quarter, compared to analysts’ expectations of $15.60 billion. During the same period in the prior year, the company posted $1.60 earnings per share. International Business Machines’s revenue for the quarter was up 9.5% on a year-over-year basis. Sell-side analysts anticipate that International Business Machines Corporation will post 12.39 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were paid a dividend of $1.69 per share. This is a boost from International Business Machines’s previous quarterly dividend of $1.68. The ex-dividend date was Friday, May 8th. This represents a $6.76 annualized dividend and a dividend yield of 2.4%. International Business Machines’s dividend payout ratio is currently 59.77%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in IBM. Family CFO Inc bought a new stake in International Business Machines during the fourth quarter worth approximately $25,000. Basepoint Wealth LLC bought a new position in shares of International Business Machines in the fourth quarter valued at approximately $25,000. Portus Wealth Advisors LLC bought a new position in shares of International Business Machines in the first quarter valued at approximately $26,000. Joseph Group Capital Management acquired a new stake in shares of International Business Machines in the fourth quarter worth $28,000. Finally, Cornerstone Financial Management LLC bought a new stake in shares of International Business Machines during the 4th quarter worth $28,000. 58.96% of the stock is owned by institutional investors.

International Business Machines Company Profile

(Get Free Report)

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.

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