International Business Machines Co., trading on the New York Stock Exchange under the ticker symbol IBM, saw a 2% increase in its stock price during midday trading on Tuesday. The stock reached a high of $174.97 and closed at $173.33, with a total of 2,101,584 shares changing hands. This marked a 56% decrease from the average daily volume. The stock had closed at $169.92 on the previous day.
Analysts have varied opinions on IBM stock. Some have lowered their price targets, while others have raised them. The consensus rating for the stock is “Hold,” with a consensus price target of $181.29. The company’s financials show a debt-equity ratio of 2.32, a market capitalization of $159.35 billion, and a PE ratio of 19.63. IBM last reported earnings on April 30th, beating estimates with an EPS of $1.68.
In a positive move for investors, IBM recently increased its quarterly dividend to $1.67, up from $1.66. The ex-dividend date is set for May 9th, with the dividend payable on June 10th. This represents a dividend yield of 3.85% and a payout ratio of 75.65%.
In terms of shareholder activity, several large investors have adjusted their stakes in IBM. WealthPlan Investment Management LLC notably increased its holdings by 220,760.0%. Hedge funds and other institutional investors currently own nearly 59% of the company’s shares.
IBM operates globally, providing integrated solutions and services through various segments. The company focuses on hybrid cloud and AI platforms to help customers with their digital transformations.
Overall, IBM’s stock performance and financial health have been closely monitored by analysts and investors. Despite a mixed outlook from analysts, the company’s recent dividend increase and positive earnings report have garnered attention. As the tech sector continues to evolve, IBM aims to stay competitive and drive growth through its innovative solutions.
This article provides a comprehensive overview of IBM’s recent stock performance, analyst ratings, financial metrics, and dividend announcements. It also highlights the company’s strategic focus on digital transformation and its efforts to meet the evolving needs of customers in the technology sector.
Article Source
https://www.marketbeat.com/instant-alerts/nyse-ibm-percent-advance-2024-05-21/
