Stock Traders Buy High Volume of International Business Machines Corp. Call Options (IBM)
International Business Machines Corp. (NYSE:IBM) was the target of some unusual options trading activity on Friday. Traders bought 35,251 call options on the stock, American Banking News reports. This represents an increase of 226% compared to the typical daily volume of 10,824 call options.
A number of research firms have recently commented on IBM. Analysts at Zacks reiterated a “neutral” rating on shares of International Business Machines Corp. in a research note on Thursday, May 22nd. They now have a $196.00 price target on the stock. Separately, analysts at Ned Davis Research upgraded shares of International Business Machines Corp. from a “neutral” rating to a “buy” rating in a research note on Monday, May 12th. Finally, 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. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $200.72.
Shares of International Business Machines Corp. (NYSE:IBM) traded up 0.21% on Friday, hitting $186.37. The stock had a trading volume of 3,296,692 shares. International Business Machines Corp. has a 52 week low of $172.19 and a 52 week high of $206.98. The stock’s 50-day moving average is $188.7 and its 200-day moving average is $185.3. The company has a market cap of $188.6 billion and a P/E ratio of 12.72.
International Business Machines Corp. (NYSE:IBM) last announced its earnings results on Wednesday, April 16th. The company reported $2.54 EPS for the quarter, meeting the Thomson Reuters 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 in the prior year, the company posted $3.00 earnings per share. The company’s quarterly revenue was down 3.9% on a year-over-year basis. Analysts expect that International Business Machines Corp. will post $17.89 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, June 10th. Stockholders of record on Friday, May 9th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Wednesday, May 7th. This is a boost from International Business Machines Corp.’s previous quarterly dividend of $0.95.
International Business Machines Corporation (NYSE:IBM) is an information technology (IT) company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.