International Business Machines Co. (NYSE:IBM – Get Free Report)’s stock price traded up 0.7% during mid-day trading on Wednesday following a better than expected earnings announcement. The company traded as high as $184.16 and last traded at $183.41. 1,449,024 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 4,728,000 shares. The stock had previously closed at $182.19.
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 net margin of 12.13% and a return on equity of 39.55%. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. During the same period in the previous year, the company posted $1.36 earnings per share. The firm’s revenue was up 1.5% on a year-over-year basis.
International Business Machines Dividend Announcement
The business also recently disclosed 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 was Thursday, February 8th. This represents a $6.64 annualized dividend and a dividend yield of 3.61%. International Business Machines’s dividend payout ratio (DPR) is currently 81.67%.
Analysts Set New Price Targets
View Our Latest Stock Analysis on International Business Machines
Institutional Investors Weigh In On International Business Machines
Hedge funds have recently bought and sold shares of the stock. Naples Money Management LLC purchased a new stake in International Business Machines in the 4th quarter worth approximately $28,000. Creekmur Asset Management LLC purchased a new stake in International Business Machines in the 4th quarter worth approximately $29,000. Briaud Financial Planning Inc purchased a new stake in International Business Machines in the 3rd quarter worth approximately $31,000. Ables Iannone Moore & Associates Inc. purchased a new position in shares of International Business Machines during the 4th quarter valued at approximately $31,000. Finally, Stone House Investment Management LLC lifted its position in shares of International Business Machines by 971.4% during the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after buying an additional 204 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.
International Business Machines Stock Up 1.0 %
The stock has a market cap of $168.69 billion, a PE ratio of 22.63, a price-to-earnings-growth ratio of 3.57 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 business has a 50-day moving average price of $188.36 and a 200-day moving average price of $169.98.
About International Business Machines
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.
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