International Business Machines Corporation (IBM) Sets New 52-Week Low at $143.52

International Business Machines Corporation (NYSE:IBM)’s share price hit a new 52-week low during trading on Monday . The company traded as low as $143.52 and last traded at $143.36, with a volume of 2,711,564 shares trading hands. The stock had previously closed at $145.16.

A number of research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of International Business Machines Corporation from a “hold” rating to a “sell” rating in a research report on Friday, April 21st. TheStreet downgraded shares of International Business Machines Corporation to a “hold” rating in a research report on Friday, April 21st. Wells Fargo & Company restated a “market perform” rating and set a $162.50 price target on shares of International Business Machines Corporation in a research report on Tuesday, April 25th. Barclays PLC reissued an “underweight” rating and issued a $141.00 target price (down from $144.00) on shares of International Business Machines Corporation in a research report on Saturday, April 22nd. Finally, Drexel Hamilton reissued a “buy” rating and issued a $200.00 target price (down from $215.00) on shares of International Business Machines Corporation in a research report on Saturday, April 22nd. Seven analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have issued a buy rating to the stock. International Business Machines Corporation presently has a consensus rating of “Hold” and an average price target of $157.40.

The stock’s 50-day moving average price is $147.30 and its 200-day moving average price is $161.22. The firm has a market cap of $130.19 billion, a PE ratio of 11.59 and a beta of 0.97.

International Business Machines Corporation (NYSE:IBM) last announced its quarterly earnings data on Tuesday, July 18th. The technology company reported $2.97 EPS for the quarter, beating the consensus estimate of $2.74 by $0.23. The firm had revenue of $19.29 billion for the quarter, compared to analyst estimates of $19.45 billion. International Business Machines Corporation had a return on equity of 71.53% and a net margin of 14.58%. The company’s revenue was down 4.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.95 EPS. On average, equities analysts forecast that International Business Machines Corporation will post $13.77 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, September 9th. Stockholders of record on Thursday, August 10th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $6.00 annualized dividend and a dividend yield of 4.29%. International Business Machines Corporation’s dividend payout ratio (DPR) is presently 49.88%.

A number of institutional investors have recently bought and sold shares of the company. Toronto Dominion Bank raised its position in International Business Machines Corporation by 205.8% in the second quarter. Toronto Dominion Bank now owns 825,475 shares of the technology company’s stock valued at $126,967,000 after buying an additional 555,547 shares during the last quarter. Cetera Investment Advisers boosted its stake in International Business Machines Corporation by 8.2% in the second quarter. Cetera Investment Advisers now owns 13,593 shares of the technology company’s stock valued at $2,090,000 after buying an additional 1,033 shares during the period. Afam Capital Inc. boosted its stake in International Business Machines Corporation by 2.4% in the second quarter. Afam Capital Inc. now owns 37,282 shares of the technology company’s stock valued at $5,735,000 after buying an additional 880 shares during the period. Beaton Management Co. Inc. acquired a new stake in International Business Machines Corporation during the second quarter valued at $894,000. Finally, Fort Pitt Capital Group LLC boosted its stake in International Business Machines Corporation by 0.8% in the second quarter. Fort Pitt Capital Group LLC now owns 73,904 shares of the technology company’s stock valued at $11,369,000 after buying an additional 607 shares during the period. Institutional investors and hedge funds own 58.57% of the company’s stock.

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International Business Machines Corporation Company Profile

International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.

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