International Business Machines Co. (NYSE:IBM) Stock Analysis and Updates

Shares of International Business Machines Co. (NYSE:IBM) experienced a slight drop of 0.5% on Friday, trading as low as $167.33 before closing at $168.14. This decline in stock price was accompanied by a decrease in trading volume, with only 531,462 shares being traded during mid-day trading, a significant drop from the average daily volume of 4,781,955 shares.

Analysts have recently made changes to their ratings and price targets for IBM. UBS Group raised their price target to $130.00 and gave the stock a “sell” rating, while Jefferies Financial Group lowered their price target to $210.00 and maintained a “hold” rating. Despite these mixed ratings, the consensus rating for IBM is currently “Hold” with an average target price of $181.29.

In terms of financial performance, IBM reported earnings of $1.68 per share for the quarter, surpassing analysts’ estimates by $0.09. The company also announced an increase in its quarterly dividend, from $1.66 to $1.67 per share, with a dividend yield of 3.95%.

Hedge funds and institutional investors have also shown interest in IBM, with several increasing their holdings in the company. Desjardins Global Asset Management Inc., Arden Trust Co, Calamos Wealth Management LLC, and Avion Wealth are among the firms that have added to their positions in IBM.

Overall, IBM continues to be a key player in the technology industry, providing integrated solutions and services globally. With a market cap of $155.27 billion and a strong financial performance, IBM remains a company to watch in the coming months.