International Business Machines Co. (NYSE:IBM – Get Rating) – Analysts at Wedbush decreased their FY2022 EPS estimates for International Business Machines in a research note issued on Tuesday, July 19th. Wedbush analyst M. Katri now expects that the technology company will post earnings per share of $9.34 for the year, down from their prior estimate of $9.65. The consensus estimate for International Business Machines’ current full-year earnings is $9.70 per share. Wedbush also issued estimates for International Business Machines’ FY2023 earnings at $10.42 EPS.
A number of other brokerages have also recently issued reports on IBM. BMO Capital Markets reduced their price objective on shares of International Business Machines from $152.00 to $148.00 in a report on Tuesday. Tigress Financial raised their price target on shares of International Business Machines from $133.00 to $139.00 and gave the company a “neutral” rating in a research report on Thursday, April 21st. Credit Suisse Group dropped 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 research report on Wednesday. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Bank of America lifted their price objective on shares of International Business Machines from $162.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, April 20th. One research 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 MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $146.10.
International Business Machines Stock Down 1.6 %
Shares of NYSE IBM opened at $127.15 on Thursday. The stock has a market capitalization of $114.36 billion, a P/E ratio of 20.64, a P/E/G ratio of 1.60 and a beta of 0.93. The company has a 50-day moving average price of $137.39 and a 200-day moving average price of $133.10. International Business Machines has a 1 year low of $114.56 and a 1 year 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 (NYSE:IBM – Get Rating) last posted its quarterly earnings results on Monday, July 18th. The technology company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.02. The business had revenue of $15.54 billion during the quarter, compared to analysts’ expectations of $15.18 billion. International Business Machines had a net margin of 8.72% and a return on equity of 43.52%. The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period last year, the company posted $2.33 earnings per share.
Hedge Funds Weigh In On International Business Machines
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Hexagon Capital Partners LLC boosted its stake in shares of International Business Machines by 33.1% in the 2nd quarter. Hexagon Capital Partners LLC now owns 3,276 shares of the technology company’s stock valued at $462,000 after purchasing an additional 814 shares in the last quarter. Lynch Asset Management Inc. boosted its stake in shares of International Business Machines by 15.0% in the 2nd quarter. Lynch Asset Management Inc. now owns 15,350 shares of the technology company’s stock valued at $2,166,000 after purchasing an additional 2,000 shares in the last quarter. Chicago Capital LLC boosted its stake in shares of International Business Machines by 1.4% in the 2nd quarter. Chicago Capital LLC now owns 8,414 shares of the technology company’s stock valued at $1,188,000 after purchasing an additional 120 shares in the last quarter. First City Capital Management Inc. boosted its stake in shares of International Business Machines by 2.5% in the 2nd quarter. First City Capital Management Inc. now owns 11,208 shares of the technology company’s stock valued at $1,582,000 after purchasing an additional 270 shares in the last quarter. Finally, Wedbush Securities Inc. raised its holdings in International Business Machines by 7.9% during the 2nd quarter. Wedbush Securities Inc. now owns 58,502 shares of the technology company’s stock valued at $8,260,000 after buying an additional 4,285 shares during the last quarter. Hedge funds and other institutional investors own 55.22% of the company’s stock.
Insider Activity at International Business Machines
In other International Business Machines news, major shareholder Business Machine International sold 22,301,536 shares of the business’s stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $13.95, for a total value of $311,106,427.20. Following the completion of the transaction, the insider now owns 22,301,536 shares of the company’s stock, valued at approximately $311,106,427.20. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.04% of the stock is owned by corporate insiders.
International Business Machines Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Tuesday, May 10th were paid 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 yield of 5.19%. This is a boost from International Business Machines’s previous quarterly dividend of $1.64. International Business Machines’s payout ratio is currently 107.14%.
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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