International Business Machines Corp. SVP Sells $1,431,954 in Stock (IBM)
International Business Machines Corp. (NYSE:IBM) SVP John E. Kelly III sold 7,431 shares of International Business Machines Corp. stock on the open market in a transaction dated Friday, May 2nd. The stock was sold at an average price of $192.70, for a total value of $1,431,953.70. Following the transaction, the senior vice president now directly owns 43,150 shares in the company, valued at approximately $8,315,005. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
International Business Machines Corp. (NYSE:IBM) traded down 0.09% during mid-day trading on Monday, hitting $191.26. The stock had a trading volume of 2,222,168 shares. International Business Machines Corp. has a one year low of $172.19 and a one year high of $211.98. The stock’s 50-day moving average is $191.7 and its 200-day moving average is $184.0. The company has a market cap of $193.6 billion and a price-to-earnings ratio of 13.09.
International Business Machines Corp. (NYSE:IBM) last posted its quarterly earnings results on Wednesday, April 16th. The company reported $2.54 earnings per share for the quarter, meeting the analysts’ consensus estimate of $2.54. The company had revenue of $22.48 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter last year, the company posted $3.00 earnings per share. International Business Machines Corp.’s revenue was down 3.9% compared to the same quarter last year. On average, analysts predict that International Business Machines Corp. will post $17.89 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, June 10th. Investors of record on Friday, May 9th will be paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Wednesday, May 7th. This is an increase from International Business Machines Corp.’s previous quarterly dividend of $0.95.
A number of analysts have recently weighed in on IBM shares. Analysts at Sarasin downgraded shares of International Business Machines Corp. from a “buy” rating to a “neutral” rating in a research note on Thursday, April 24th. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of International Business Machines Corp. from $175.00 to $197.00 in a research note on Thursday, April 17th. They now have a “neutral” rating on the stock. Finally, analysts at Citigroup Inc. downgraded shares of International Business Machines Corp. from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 15th. They now have a $200.00 price target on the stock, down previously from $235.00. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. International Business Machines Corp. currently has an average rating of “Hold” and an average price target of $200.47.
International Business Machines Corporation (NYSE:IBM) is an information technology (IT) company.
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