International Business Machines Co. (NYSE:IBM) Short interest up 8.1% in September
International Business Machines Co. (NYSE: IBM – Get Rating) benefited from significant growth in short-term interest during the month of September. As of September 15, there was short interest totaling 25,760,000 shares, up 8.1% from the total of 23,820,000 shares as of August 31. Based on an average trading volume of 4,700,000 shares, the short interest ratio is currently 5.5 days.
A Wall Street analyst gives his opinion
A number of research analysts have weighed in on the stock recently. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Monday. UBS Group lowered its price target on shares of International Business Machines from $118.00 to $112.00 in a Wednesday, September 28 research note. Credit Suisse Group raised its price target on International Business Machines shares from $156.00 to $163.00 and gave the stock an “outperform” rating in a Wednesday, Aug. 17 research note . Morgan Stanley lowered its price target on shares of International Business Machines from $157.00 to $155.00 and set an “overweight” rating on the stock in a Tuesday, July 19 research note. Finally, BMO Capital Markets lowered its price target on shares of International Business Machines from $152.00 to $148.00 in a Tuesday, July 19 research note. One analyst rated the security with a sell rating, three assigned a hold rating and six assigned a buy rating. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $142.10.
Insiders place their bets
In other news, Director David N. Farr acquired 1,000 shares in a trade on Thursday, September 15. The shares were acquired at an average cost of $125.00 per share, for a total transaction of $125,000.00. Following completion of the transaction, the director now directly owns 1,000 shares of the company, valued at $125,000. The purchase was disclosed in a legal filing with the SEC, accessible via this link. Insiders of the company own 0.04% of the shares of the company.
Institutional investors weigh on international trading machines
A number of large investors have recently increased or reduced their holdings in IBM. Cibc World Market Inc. increased its stake in shares of International Business Machines by 3.1% during the 1st quarter. Cibc World Market Inc. now owns 329,303 shares of the technology company valued at $42,816,000 after buying 9,996 additional shares last quarter. Capital Asset Advisory Services LLC increased its stake in shares of International Business Machines by 24.2% during the 1st quarter. Capital Asset Advisory Services LLC now owns 5,044 shares of the technology company valued at $656,000 after buying 982 additional shares in the last quarter. Callahan Advisors LLC increased its holding in shares of International Business Machines by 37.7% in the 1st quarter. Callahan Advisors LLC now owns 2,906 shares of the technology company valued at $378,000 after buying 796 additional shares last quarter. Graypoint LLC increased its stake in shares of International Business Machines by 47.9% during the 1st quarter. Graypoint LLC now owns 3,471 shares of the technology company valued at $451,000 after buying 1,124 additional shares last quarter. Finally, Sawtooth Solutions LLC increased its position in International Business Machines by 30.9% during the 2nd quarter. Sawtooth Solutions LLC now owns 10,483 shares of the technology company valued at $1,480,000 after acquiring 2,477 additional shares during the period. Institutional investors hold 55.52% of the company’s shares.
International trading machines are trading up 2.9%
NYSE: IBM traded $3.48 during trading hours on Tuesday, hitting $124.99. The company’s stock had a trading volume of 96,685 shares, compared to an average trading volume of 4,041,506 shares. The company has a market capitalization of $112.89 billion, a price-earnings ratio of 19.73, a PEG ratio of 1.81 and a beta of 0.84. The company has a 50-day simple moving average of $129.43 and a 200-day simple moving average of $132.81. International Business Machines has a 1 year minimum of $114.56 and a 1 year maximum of $146.00. The company has a debt ratio of 2.28, a quick ratio of 0.82 and a current ratio of 0.88.
International Business Machines (NYSE:IBM – Get Rating) last released its results on Monday, July 18. The technology company reported EPS of $2.31 for the quarter, beating analyst consensus estimates of $2.29 by $0.02. The company posted revenue of $15.54 billion for the quarter, versus $15.18 billion expected by analysts. International Business Machines posted a net margin of 8.72% and a return on equity of 43.52%. The company’s revenue increased by 9.3% compared to the same quarter last year. In the same quarter last year, the company achieved EPS of $2.33. Research analysts expect International Business Machines to post EPS of 9.39 for the current fiscal year.
International Business Machines Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Saturday, September 10. Shareholders of record on Wednesday August 10 received a dividend of $1.65. This represents a dividend of $6.60 on an annualized basis and a yield of 5.28%. The ex-dividend date was Tuesday August 9th. International Business Machines’ dividend payout ratio (DPR) is currently 107.14%.
About International Trade Machines
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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 solution; enterprise automation software, AIOps and management, integration and application servers; data and artificial intelligence solutions; and security software and services for threats, data and identity.
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