In yesterday’s Wall Street session, International Business Machines Corp. (NYSE:IBM) shares traded at $143.17, down -0.05% from the previous session.
As of this writing, 18 analysts cover International Business Machines Corp. (NYSE:IBM). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $188.00 and a low of $110.00, we find $145.00. Given the previous closing price of $143.24, this indicates a potential upside of 1.23 percent. IBM stock price is now -0.64% away from the 50-day moving average and 5.54% away from the 200-day moving average. The market capitalization of the company currently stands at $130.43B.
There are 12 analysts who have given it a hold rating, whereas 5 have given it a buy rating. Brokers who have rated the stock have averaged $147.47 as their price target over the next twelve months.
With the price target of $188, RBC Capital Mkts recently initiated with Outperform rating for International Business Machines Corp. (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 $10.66 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 $2.08 million. Insiders disposed of 221,850 shares of company stock worth roughly $31.76 million over the past 1 year. A total of 0.08% 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 Corp. shares was purchased by SOUNDWATCH CAPITAL LLC during the first quarter worth $100,935,000. CONTRARIUS INVESTMENT MANAGEMENT LTD invested $67,238,000 in shares of IBM during the first quarter. In the first quarter, CHILTON INVESTMENT CO INC. acquired a new stake in International Business Machines Corp. valued at approximately $47,773,000. MANNING & NAPIER GROUP, LLC acquired a new stake in IBM for approximately $26,141,000. RANDOLPH CO INC purchased a new stake in IBM valued at around $21,901,000 in the second quarter. In total, there are 3,015 active investors with 58.05% ownership of the company’s stock.
Wednesday morning saw International Business Machines Corp. (NYSE: IBM) opened at $143.67. During the past 12 months, International Business Machines Corp. 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 2.72, a current ratio of 1.03, and a quick ratio of 0.98. According to the stock market information, the enterprise value for the company is $174.50B, which is based on a 66.39 price-to-earnings ratio, a 19.53 price-to-earnings-growth ratio, and a beta of 0.84. The fifty day moving average price for IBM is $144.25 and a two-hundred day moving average price translates $135.63 for the stock.
The latest earnings results from International Business Machines Corp. (NYSE: IBM) was released for Jun, 2023. According to the Information Technology Services Company, earnings per share came in at $2.18, beating analysts’ expectations of $2.01 by 0.17. This compares to -$0.08 EPS in the same period last year. The net profit margin was 3.35% and return on equity was 10.43% 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 $13.97B 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 $6.76 dividend and a 4.72% 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 366.80%.
International Business Machines Corp.(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.
