International Business Machines Co. (IBM) saw a 0.6% increase in its stock price during trading on Tuesday, reaching $176.43 per share. Approximately 564,956 shares were traded, a significant decrease from the average daily volume. Analysts have differing opinions on the company, with some initiating coverage with a “buy” rating and a $200.00 price target, while others have lowered their price targets. Overall, the consensus rating is “Hold” with an average price target of $182.53.
IBM has a market capitalization of $161.41 billion, with a quick ratio of 1.09, a current ratio of 1.13, and a debt-to-equity ratio of 2.32. The company reported quarterly earnings data, beating the consensus estimate with an EPS of $1.68. Revenue for the quarter was $14.46 billion, slightly below analyst estimates. IBM also announced an increased quarterly dividend, now at $1.67 per share.
Institutional investors have been active in trading IBM shares, with several hedge funds increasing their stakes in the company. Beese Fulmer Investment Management Inc. and Moody National Bank Trust Division are among those who have added to their holdings. Overall, institutional investors own 58.96% of the company’s shares.
IBM operates through different segments, offering software, consulting, infrastructure, and finance services globally. The Software segment focuses on hybrid cloud and AI platforms to support digital and AI transformations for customers. The company’s stock performance has been mixed, with varying analyst opinions on its future outlook.
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