International Business Machines (NYSE:IBM) Trading Down 1.1% Following Analyst Downgrade

International Business Machines Co. (NYSE:IBM)’s stock price was down 1.1% on Friday after Morgan Stanley lowered their price target on the stock from $186.00 to $179.00. Morgan Stanley currently has an equal weight rating on the stock. International Business Machines traded as low as $165.73 and last traded at $167.01. Approximately 3,196,762 shares traded hands during trading, a decline of 35% from the average daily volume of 4,933,272 shares. The stock had previously closed at $168.91.

A number of other research analysts have also recently weighed in on the stock. Royal Bank of Canada lifted their price objective on International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Stifel Nicolaus reissued a “buy” rating and issued a $190.00 price target on shares of International Business Machines in a report on Wednesday, April 17th. Evercore ISI raised International Business Machines from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $165.00 to $200.00 in a research note on Friday, January 19th. JPMorgan Chase & Co. cut their target price on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, UBS Group upped their target price on shares of International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a report on Monday, April 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus price target of $184.08.

Hedge Funds Weigh In On International Business Machines

Large investors have recently bought and sold shares of the stock. Desjardins Global Asset Management Inc. raised its stake in shares of International Business Machines by 1.4% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 3,940 shares of the technology company’s stock valued at $644,000 after acquiring an additional 54 shares in the last quarter. Arden Trust Co grew its holdings in International Business Machines by 2.8% during the first quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock valued at $377,000 after purchasing an additional 54 shares during the last quarter. Calamos Wealth Management LLC raised its position in shares of International Business Machines by 2.8% in the fourth quarter. Calamos Wealth Management LLC now owns 2,007 shares of the technology company’s stock valued at $328,000 after purchasing an additional 55 shares during the period. Avion Wealth lifted its stake in shares of International Business Machines by 6.2% in the fourth quarter. Avion Wealth now owns 964 shares of the technology company’s stock worth $158,000 after buying an additional 56 shares during the last quarter. Finally, Chicago Partners Investment Group LLC boosted its holdings in shares of International Business Machines by 0.8% during the 4th quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock worth $1,309,000 after buying an additional 58 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Down 1.0 %

The stock has a market cap of $153.28 billion, a P/E ratio of 18.94, a P/E/G ratio of 3.62 and a beta of 0.70. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 2.22. The firm’s fifty day moving average is $187.60 and its 200 day moving average is $170.15.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. International Business Machines had a return on equity of 40.50% and a net margin of 13.18%. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.53 billion. During the same period in the previous year, the company posted $1.36 earnings per share. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, equities research analysts forecast that International Business Machines Co. will post 10.04 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 9th. Stockholders of record on Friday, February 9th were issued a dividend of $1.66 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $6.64 dividend on an annualized basis and a dividend yield of 3.97%. International Business Machines’s dividend payout ratio (DPR) is presently 75.20%.

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.