International Business Machines (NYSE:IBM) Stock Price Down 9.3% Following Analyst Downgrade

International Business Machines Co. (NYSE:IBM) traded down 9.3% on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $190.00 to $185.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. International Business Machines traded as low as $165.66 and last traded at $167.06. 7,696,464 shares changed hands during trading, an increase of 59% from the average session volume of 4,836,812 shares. The stock had previously closed at $184.10.

Other equities research analysts have also recently issued reports about the stock. Evercore ISI raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $165.00 to $200.00 in a research report on Friday, January 19th. UBS Group boosted their price objective on shares of International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a research report on Monday. Sanford C. Bernstein boosted their price objective on shares of International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a research report on Thursday, March 7th. Evercore raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $165.00 to $200.00 in a research report on Friday, January 19th. Finally, BMO Capital Markets cut their price objective on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating on the stock in a research report on Thursday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $180.31.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of IBM. Desjardins Global Asset Management Inc. grew its stake in International Business Machines by 1.4% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 3,940 shares of the technology company’s stock valued at $644,000 after buying an additional 54 shares during the last quarter. Arden Trust Co grew its stake in International Business Machines by 2.8% in the 1st quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock valued at $377,000 after buying an additional 54 shares during the last quarter. Calamos Wealth Management LLC grew its stake in International Business Machines by 2.8% in the 4th quarter. Calamos Wealth Management LLC now owns 2,007 shares of the technology company’s stock valued at $328,000 after buying an additional 55 shares during the last quarter. Avion Wealth grew its stake in International Business Machines by 6.2% in the 4th quarter. Avion Wealth now owns 964 shares of the technology company’s stock valued at $158,000 after buying an additional 56 shares during the last quarter. Finally, Chicago Partners Investment Group LLC grew its stake in International Business Machines by 0.8% in the 4th quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock valued at $1,309,000 after buying an additional 58 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Down 8.0 %

The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.93 and a current ratio of 0.96. The stock has a market cap of $155.20 billion, a P/E ratio of 20.72, a P/E/G ratio of 3.58 and a beta of 0.70. The stock’s fifty day simple moving average is $188.36 and its 200-day simple moving average is $169.98.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.36 EPS. As a group, research analysts forecast that International Business Machines Co. will post 10.04 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared 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. This represents a $6.64 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend was Thursday, February 8th. International Business Machines’s dividend payout ratio (DPR) is presently 81.67%.

International Business Machines Company Profile

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.