International Business Machines (NYSE:IBM) Stock Price Down 1.9% – Here’s Why

International Business Machines Corporation (NYSE:IBM)’s share price dropped 1.9% during mid-day trading on Friday . The stock traded as low as $302.63 and last traded at $306.6380. Approximately 5,064,904 shares traded hands during trading, an increase of 3% from the average daily volume of 4,919,155 shares. The stock had previously closed at $312.42.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Royal Bank Of Canada lowered their target price on International Business Machines from $315.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, October 23rd. Weiss Ratings raised International Business Machines from a “hold (c+)” rating to a “buy (b)” rating in a report on Saturday, October 25th. JPMorgan Chase & Co. lifted their price objective on International Business Machines from $244.00 to $290.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Sanford C. Bernstein assumed coverage on International Business Machines in a research report on Monday, September 15th. They issued a “market perform” rating and a $280.00 target price on the stock. Finally, Bank of America raised their price target on shares of International Business Machines from $310.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $288.00.

International Business Machines Trading Down 1.9%

The firm has a market cap of $286.63 billion, a P/E ratio of 36.68, a P/E/G ratio of 4.33 and a beta of 0.71. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.89 and a current ratio of 0.93. The firm has a fifty day moving average of $278.19 and a 200-day moving average of $268.34.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 22nd. The technology company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.20. The firm had revenue of $16.33 billion for the quarter, compared to the consensus estimate of $16.10 billion. International Business Machines had a net margin of 12.09% and a return on equity of 37.76%. International Business Machines’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the firm posted $2.30 EPS. International Business Machines has set its FY 2025 guidance at EPS. Equities research analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th will be paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Monday, November 10th. International Business Machines’s dividend payout ratio (DPR) is presently 80.38%.

Hedge Funds Weigh In On International Business Machines

Several hedge funds have recently made changes to their positions in the business. Fiera Capital Corp lifted its stake in International Business Machines by 17.2% in the third quarter. Fiera Capital Corp now owns 1,958 shares of the technology company’s stock valued at $552,000 after acquiring an additional 288 shares during the last quarter. Midland Wealth Advisors LLC increased its stake in shares of International Business Machines by 8.0% during the 3rd quarter. Midland Wealth Advisors LLC now owns 6,939 shares of the technology company’s stock worth $1,955,000 after purchasing an additional 514 shares during the last quarter. HC Advisors LLC raised its holdings in shares of International Business Machines by 3.0% during the 3rd quarter. HC Advisors LLC now owns 1,390 shares of the technology company’s stock valued at $392,000 after purchasing an additional 40 shares in the last quarter. Cumberland Partners Ltd lifted its stake in shares of International Business Machines by 4.7% in the 3rd quarter. Cumberland Partners Ltd now owns 4,250 shares of the technology company’s stock valued at $1,199,000 after purchasing an additional 190 shares during the last quarter. Finally, CFO4Life Group LLC boosted its holdings in International Business Machines by 11.8% in the third quarter. CFO4Life Group LLC now owns 1,382 shares of the technology company’s stock worth $390,000 after purchasing an additional 146 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Company Profile

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.