International Business Machines (NYSE:IBM) Sees Unusually-High Trading Volume on Earnings Beat

International Business Machines Co. (NYSE:IBM – Get Free Report) shares saw an uptick in trading volume on Thursday following a better than expected earnings announcement. 1,953,903 shares changed hands during trading, a decline of 58% from the previous session’s volume of 4,677,875 shares.The stock last traded at $139.18 and had previously closed at $135.48.

The technology company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.18. The business had revenue of $15.48 billion for the quarter, compared to analyst estimates of $15.58 billion. International Business Machines had a net margin of 3.03% and a return on equity of 39.86%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the company posted $2.31 earnings per share.

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International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 10th. Stockholders of record on Wednesday, May 10th were paid a dividend of $1.66 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.65. This represents a $6.64 annualized dividend and a dividend yield of 4.80%. The ex-dividend date of this dividend was Tuesday, May 9th. International Business Machines’s payout ratio is presently 337.06%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Morgan Stanley reaffirmed an “equal weight” rating and issued a $135.00 price objective on shares of International Business Machines in a report on Thursday. Wedbush restated a “neutral” rating and set a $140.00 price target on shares of International Business Machines in a research report on Thursday. Credit Suisse Group lowered their price target on shares of International Business Machines from $165.00 to $162.00 and set an “outperform” rating on the stock in a research report on Thursday, April 13th. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, BMO Capital Markets upped their price objective on shares of International Business Machines from $145.00 to $150.00 and gave the stock a “market perform” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $141.75.

Institutional Investors Weigh In On International Business Machines

Institutional investors have recently bought and sold shares of the stock. Fiduciary Alliance LLC purchased a new position in shares of International Business Machines in the fourth quarter valued at $25,000. Red Tortoise LLC bought a new position in shares of International Business Machines during the fourth quarter worth about $27,000. Live Oak Investment Partners bought a new position in shares of International Business Machines during the fourth quarter worth about $30,000. GW&K Investment Management LLC bought a new position in International Business Machines in the 1st quarter valued at about $33,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of International Business Machines during the 2nd quarter valued at about $34,000. 55.71% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

The company has a current ratio of 1.16, a quick ratio of 1.11 and a debt-to-equity ratio of 2.48. The company has a market cap of $125.66 billion, a P/E ratio of 70.24, a price-to-earnings-growth ratio of 3.53 and a beta of 0.85. The company’s 50-day moving average price is $131.99 and its two-hundred day moving average price is $131.88.

International Business Machines Company Profile

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International Business Machines Corporation, together with its subsidiaries, 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; 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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