International Business Machines Co. (NYSE:IBM – Get Rating) – Investment analysts at Jefferies Financial Group decreased their FY2022 earnings per share (EPS) estimates for shares of International Business Machines in a report issued on Tuesday, July 19th. Jefferies Financial Group analyst K. Mcnealy now expects that the technology company will earn $9.70 per share for the year, down from their prior forecast of $10.10. The consensus estimate for International Business Machines’ current full-year earnings is $9.70 per share. Jefferies Financial Group also issued estimates for International Business Machines’ Q2 2023 earnings at $2.46 EPS, Q4 2023 earnings at $3.22 EPS and FY2023 earnings at $10.55 EPS.
International Business Machines (NYSE:IBM – Get Rating) last issued its earnings results on Monday, July 18th. The technology company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.02. The company had revenue of $15.54 billion for the quarter, compared to the consensus estimate of $15.18 billion. International Business Machines had a return on equity of 43.52% and a net margin of 8.72%. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.33 EPS.
Other equities research analysts have also recently issued research reports about the company. Credit Suisse Group lowered their price target on International Business Machines from $166.00 to $156.00 and set an “outperform” rating for the company in a research note on Wednesday. Bank of America upped their target price on International Business Machines from $162.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, April 20th. BMO Capital Markets decreased their target price on International Business Machines from $152.00 to $148.00 in a research report on Tuesday. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Morgan Stanley decreased their target price on International Business Machines from $157.00 to $155.00 and set an “overweight” rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $146.10.
International Business Machines Price Performance
Shares of IBM opened at $129.18 on Thursday. The company has a market capitalization of $116.19 billion, a price-to-earnings ratio of 20.97, a P/E/G ratio of 1.60 and a beta of 0.93. The business’s 50-day moving average is $137.51 and its 200-day moving average is $133.17. International Business Machines has a fifty-two week low of $114.56 and a fifty-two week high of $146.00. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.88 and a quick ratio of 0.87.
International Business Machines Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Tuesday, May 10th were paid a $1.65 dividend. This represents a $6.60 dividend on an annualized basis and a dividend yield of 5.11%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.64. The ex-dividend date was Monday, May 9th. International Business Machines’s dividend payout ratio is presently 107.14%.
Insider Activity at International Business Machines
In other International Business Machines news, major shareholder Business Machine International sold 22,301,536 shares of the stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $13.95, for a total transaction of $311,106,427.20. Following the completion of the transaction, the insider now directly owns 22,301,536 shares in the company, valued at $311,106,427.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.04% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. IFS Advisors LLC bought a new stake in shares of International Business Machines during the fourth quarter worth $28,000. Gleason Group Inc. bought a new stake in shares of International Business Machines during the second quarter worth $28,000. Parkside Investments LLC bought a new stake in shares of International Business Machines during the first quarter worth $31,000. Canton Hathaway LLC bought a new position in International Business Machines in the second quarter valued at about $31,000. Finally, Win Advisors Inc. boosted its holdings in International Business Machines by 52.3% in the second quarter. Win Advisors Inc. now owns 236 shares of the technology company’s stock valued at $33,000 after acquiring an additional 81 shares during the last quarter. 55.22% of the stock is currently owned by institutional investors and hedge funds.
About International Business Machines
International Business Machines Corporation 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, such as Red Hat, an enterprise open-source 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.
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