International Business Machines Co. (NYSE:IBM – Get Rating) – Equities researchers at Jefferies Financial Group dropped their Q3 2022 earnings estimates for International Business Machines in a note issued to investors on Tuesday, July 19th. Jefferies Financial Group analyst K. Mcnealy now anticipates that the technology company will post earnings of $2.33 per share for the quarter, down from their previous forecast of $2.67. The consensus estimate for International Business Machines’ current full-year earnings is $9.60 per share. Jefferies Financial Group also issued estimates for International Business Machines’ Q3 2023 earnings at $2.79 EPS.
IBM has been the topic of a number of other research reports. BMO Capital Markets decreased their target price on shares of International Business Machines from $152.00 to $148.00 in a report on Tuesday. Bank of America increased their price target on shares of International Business Machines from $162.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, April 20th. Morgan Stanley decreased their price target on shares of International Business Machines from $157.00 to $155.00 and set an “overweight” rating on the stock in a report on Tuesday. Credit Suisse Group decreased their price target on shares of International Business Machines from $166.00 to $156.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Tigress Financial increased their price target on shares of International Business Machines from $133.00 to $139.00 and gave the stock a “neutral” rating in a report on Thursday, April 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, International Business Machines currently has an average rating of “Moderate Buy” and an average target price of $146.10.
International Business Machines Stock Performance
International Business Machines stock opened at $128.25 on Friday. The firm’s 50 day simple moving average is $137.29 and its 200 day simple moving average is $133.04. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 2.28. The firm has a market capitalization of $115.35 billion, a PE ratio of 20.82, a price-to-earnings-growth ratio of 1.93 and a beta of 0.93. International Business Machines has a 1-year low of $114.56 and a 1-year high of $146.00.
International Business Machines (NYSE:IBM – Get Rating) last posted its earnings results on Monday, July 18th. The technology company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.02. The business had revenue of $15.54 billion for the quarter, compared to analyst estimates of $15.18 billion. International Business Machines had a net margin of 8.72% and a return on equity of 43.52%. International Business Machines’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.33 EPS.
Institutional Trading of International Business Machines
Hedge funds have recently added to or reduced their stakes in the business. Steward Financial Group LLC increased its holdings in shares of International Business Machines by 2.2% during the second quarter. Steward Financial Group LLC now owns 5,097 shares of the technology company’s stock valued at $719,000 after acquiring an additional 112 shares in the last quarter. BCR Wealth Strategies LLC acquired a new position in International Business Machines in the 2nd quarter worth approximately $25,000. RNC Capital Management LLC boosted its position in International Business Machines by 5.4% in the 2nd quarter. RNC Capital Management LLC now owns 324,122 shares of the technology company’s stock worth $45,763,000 after purchasing an additional 16,504 shares in the last quarter. WoodTrust Financial Corp boosted its position in International Business Machines by 432.4% in the 2nd quarter. WoodTrust Financial Corp now owns 12,543 shares of the technology company’s stock worth $1,771,000 after purchasing an additional 10,187 shares in the last quarter. Finally, Rice Partnership LLC boosted its position in International Business Machines by 242.6% in the 2nd quarter. Rice Partnership LLC now owns 19,664 shares of the technology company’s stock worth $2,776,000 after purchasing an additional 13,924 shares in the last quarter. 55.22% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other International Business Machines news, major shareholder Business Machine International sold 22,301,536 shares of International Business Machines stock in a transaction on Thursday, May 19th. The shares were 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 of the company’s stock, valued at $311,106,427.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.04% of the company’s stock.
International Business Machines Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Tuesday, May 10th were given a dividend of $1.65 per share. The ex-dividend date of this dividend was Monday, May 9th. This represents a $6.60 annualized dividend and a dividend yield of 5.15%. This is a boost from International Business Machines’s previous quarterly dividend of $1.64. International Business Machines’s dividend payout ratio (DPR) is presently 107.14%.
International Business Machines Company Profile
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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