In yesterday’s Wall Street session, International Business Machines Corporation (NYSE:IBM) shares traded at $142.49, down -2.34% from the previous session.
As we calculate the median target price by taking the range between a high of $175.00 and a low of $110.00, we find $145.00. Given the previous closing price of $145.91, this indicates a potential downside of -0.62 percent. IBM stock price is now 4.75% away from the 50-day moving average and 5.50% away from the 200-day moving average. The market capitalization of the company currently stands at $130.00B.
Brokers who have rated the stock have averaged $145.73 as their price target over the next twelve months.
With the price target enhanced from $145 to $150, BMO Capital Markets maintained Market Perform rating for International Business Machines Corporation (NYSE: IBM).
In other news, KAVANAUGH JAMES J, Sr. VP and CFO sold 38,519 shares of the company’s stock on Feb 01. The stock was sold for $5,151,038 at an average price of $133.73. Upon completion of the transaction, the Sr. VP and CFO now directly owns 74,467 shares in the company, valued at $10.61 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 22, VP, Controller Del Bene Robert F sold 3,000 shares of the business’s stock. A total of $445,088 was realized by selling the stock at an average price of $148.36. This leaves the insider owning 14,553 shares of the company worth $2.07 million. Insiders disposed of 220,699 shares of company stock worth roughly $31.45 million over the past 1 year. A total of 0.09% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in IBM stock. A new stake in International Business Machines Corporation shares was purchased by RENAISSANCE TECHNOLOGIES LLC during the first quarter worth $209,589,000. HRT FINANCIAL LP invested $95,804,000 in shares of IBM during the first quarter. In the first quarter, PORTSIDE WEALTH GROUP, LLC acquired a new stake in International Business Machines Corporation valued at approximately $90,331,000. CONTRARIUS INVESTMENT MANAGEMENT LTD acquired a new stake in IBM for approximately $66,919,000. TWINBEECH CAPITAL LP purchased a new stake in IBM valued at around $58,032,000 in the second quarter. In total, there are 3,015 active investors with 58.50% ownership of the company’s stock.
Wednesday morning saw International Business Machines Corporation (NYSE: IBM) opened at $144.94. During the past 12 months, International Business Machines Corporation has had a low of $115.54 and a high of $153.21. As of last week, the company has a debt-to-equity ratio of 2.59, a current ratio of 1.10, and a quick ratio of 1.00. According to the stock market information, the enterprise value for the company is $173.82B, which is based on a 69.47 price-to-earnings ratio, a 15.25 price-to-earnings-growth ratio, and a beta of 0.85. The fifty day moving average price for IBM is $136.29 and a two-hundred day moving average price translates $135.13 for the stock.
The latest earnings results from International Business Machines Corporation (NYSE: IBM) was released for Jun, 2023. According to the Information Technology Services Company, earnings per share came in at $1.98, beating analysts’ expectations of $1.83 by 0.15. This compares to -$0.08 EPS in the same period last year. The net profit margin was 3.30% and return on equity was 9.40% for IBM. The company reported revenue of $15.47 billion for the quarter, compared to $15.54 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -0.39 percent. For the current quarter, analysts expect IBM to generate $13.45B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/09/2023. Investors who held shares on 08/10/2023 were paid a $1.66 dividend. On an annualized basis, this represents a $6.64 dividend and a 4.66% percent yield. There was an ex-dividend date of 08/09/2023 for this dividend. In terms of dividend payout ratio, IBM is presently at 298.00%.
International Business Machines Corporation(IBM) Company Profile
International Business Machines Corporation, together with its subsidiaries, 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; 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. This segment also provides transaction processing software that supports clients’ mission-critical and on-premise workloads in banking, airlines, and retail industries. The Consulting segment offers business transformation services, including strategy, business process design and operations, data and analytics, and system integration services; technology consulting services; and application and cloud platform services. The Infrastructure segment provides on-premises and cloud-based server and storage solutions for its clients’ mission-critical and regulated workloads; and support services and solutions for hybrid cloud infrastructure, as well as remanufacturing and remarketing services for used equipment. The Financing segment offers lease, installment payment, loan financing, and short-term working capital financing services. The company has collaboration agreement with Siemens Digital Industri Software to develop a combined software solution. The company was formerly known as Computing-Tabulating-Recording Co. International Business Machines Corporation was incorporated in 1911 and is headquartered in Armonk, New York.
