International Business Machines (NYSE:IBM) Reaches New 12-Month High at $148.37

Shares of International Business Machines Co. (NYSE:IBMGet Rating) hit a new 52-week high on Tuesday . The company traded as high as $148.37 and last traded at $148.34, with a volume of 22333 shares trading hands. The stock had previously closed at $146.68.

Analyst Upgrades and Downgrades

IBM has been the subject of a number of research reports. Credit Suisse Group dropped their price objective on shares of International Business Machines from $158.00 to $155.00 and set an “outperform” rating for the company in a report on Thursday, October 20th. UBS Group dropped their price objective on shares of International Business Machines from $112.00 to $111.00 and set a “sell” rating for the company in a report on Thursday, October 20th. Bank of America dropped their price objective on shares of International Business Machines from $155.00 to $145.00 in a report on Tuesday, October 18th. Stifel Nicolaus dropped their price objective on shares of International Business Machines from $150.00 to $140.00 and set a “buy” rating for the company in a report on Monday, October 17th. Finally, StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Friday, October 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $139.40.

International Business Machines Stock Down 0.2 %

The company has a market cap of $134.49 billion, a price-to-earnings ratio of 108.58, a PEG ratio of 2.42 and a beta of 0.88. The company has a current ratio of 0.95, a quick ratio of 0.89 and a debt-to-equity ratio of 2.23. The firm’s fifty day simple moving average is $130.59 and its 200 day simple moving average is $133.23.

International Business Machines (NYSE:IBMGet Rating) last issued its quarterly earnings data on Wednesday, October 19th. The technology company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.03. The business had revenue of $14.11 billion during the quarter, compared to the consensus estimate of $13.55 billion. International Business Machines had a net margin of 2.08% and a return on equity of 41.50%. The company’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.52 EPS. Sell-side analysts predict that International Business Machines Co. will post 9.12 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, December 10th. Stockholders of record on Thursday, November 10th will be given a dividend of $1.65 per share. The ex-dividend date is Wednesday, November 9th. This represents a $6.60 annualized dividend and a dividend yield of 4.44%. International Business Machines’s dividend payout ratio is presently 481.76%.

Insider Transactions at International Business Machines

In related news, Director David N. Farr acquired 1,000 shares of International Business Machines stock in a transaction dated Thursday, September 15th. The stock was acquired at an average price of $125.00 per share, for a total transaction of $125,000.00. Following the transaction, the director now owns 1,000 shares of the company’s stock, valued at $125,000. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP Bene Robert F. Del sold 3,000 shares of the company’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $148.36, for a total value of $445,080.00. Following the completion of the sale, the vice president now owns 14,553 shares in the company, valued at approximately $2,159,083.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director David N. Farr purchased 1,000 shares of International Business Machines stock in a transaction that occurred on Thursday, September 15th. The stock was acquired at an average price of $125.00 per share, with a total value of $125,000.00. Following the transaction, the director now owns 1,000 shares in the company, valued at $125,000. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

Institutional Trading of International Business Machines

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in International Business Machines by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 79,079,065 shares of the technology company’s stock worth $9,395,384,000 after buying an additional 1,709,934 shares during the last quarter. FMR LLC raised its position in International Business Machines by 31.4% during the 2nd quarter. FMR LLC now owns 5,107,664 shares of the technology company’s stock worth $721,150,000 after buying an additional 1,221,837 shares during the last quarter. California Public Employees Retirement System raised its position in International Business Machines by 35.8% during the 2nd quarter. California Public Employees Retirement System now owns 4,574,680 shares of the technology company’s stock worth $645,899,000 after buying an additional 1,206,006 shares during the last quarter. Barclays PLC raised its position in International Business Machines by 264.1% during the 3rd quarter. Barclays PLC now owns 1,629,659 shares of the technology company’s stock worth $193,619,000 after buying an additional 1,182,046 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in International Business Machines by 35.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,460,023 shares of the technology company’s stock worth $579,892,000 after buying an additional 1,163,790 shares during the last quarter. Hedge funds and other institutional investors own 55.52% of the company’s stock.

About International Business Machines

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International Business Machines Corporation provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions, such as Red Hat, an enterprise open-source solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.

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