In the last trading session, 4.59 million shares of the International Business Machines Corporation (NYSE:IBM) were traded, and its beta was 0.85. Most recently the company’s share price was $128.18, and it changed around $0.68 or 0.53% from the last close, which brings the market valuation of the company to $115.38B. IBM currently trades at a discount to its 52-week high of $153.21, offering almost -19.53% off that amount. The share price’s 52-week low was $115.54, which indicates that the current value has risen by an impressive 9.86% since then. We note from International Business Machines Corporation’s average daily trading volume that its 10-day average is 3.79 million shares, with the 3-month average coming to 4.82 million.
International Business Machines Corporation stock received a consensus recommendation rating of a Hold, based on a mean score of 2.60. If we narrow it down even further, the data shows that 1 out of 17 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 11 recommended IBM as a Hold, whereas 5 deemed it a Buy, and 0 rated it as Underweight. International Business Machines Corporation is expected to report earnings per share of $2 for the current quarter.
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International Business Machines Corporation (NYSE:IBM) trade information
Instantly IBM has showed a green trend with a performance of 0.53% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 129.09 on Tuesday, 05/23/23 increased the stock’s daily price by 0.7%. The company’s shares are currently down -9.02% year-to-date, but still up 3.82% over the last five days. On the other hand, International Business Machines Corporation (NYSE:IBM) is 2.22% up in the 30-day period. We can see from the shorts that 26.11 million shares have been sold at a short interest cover period of 6.13 day(s).
The consensus price target as assigned by Wall Street analysts is $140.22, which translates to bulls needing to increase their stock price by 8.59% from its current value. Analyst projections state that IBM is forecast to be at a low of $110.00 and a high of $162.00. In order for the stock price to hit the forecast high, the stock would need to plunge -26.38% from its current level, while the stock would need to crash 14.18% from its current level to reach the projected low.
International Business Machines Corporation (IBM) estimates and forecasts
International Business Machines Corporation share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -13.18 percent over the past six months and at a 1.86% annual growth rate that is well below the industry average of 9.40%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will loss -13.40% in revenue this quarter, and will report an increase of 18.80% in the next quarter. The year-over-year growth rate is expected to be 2.80%, up from the previous year.
Consensus estimates provided by 9 financial analysts predict the company will bring in an average of $15.56 billion in revenue for the current quarter. 9 analysts expect International Business Machines Corporation to make $14.87 billion in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $15.54 billion and $13.51 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 0.20%. Forecasts for the next quarter put sales growth at 10.10%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -29.90%. International Business Machines Corporation earnings are expected to increase by -60.30% in 2023, but the outlook is positive 6.62% per year for the next five years.
International Business Machines Corporation’s next quarterly earnings report is expected to be released on July 19. The annual dividend yield of the stock is 5.18 percent and its annual dividend per share was 6.64. It is important to note, however, that the 5.18% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.
International Business Machines Corporation (NYSE:IBM)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.09% of International Business Machines Corporation shares, and 59.41% of them are in the hands of institutional investors. The stock currently has a share float of 59.46%. International Business Machines Corporation stock is held by 3,010 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Mar 30, 2023, it held 8.95% of the shares, which is about 81.23 million shares worth $10.65 billion.
Blackrock Inc., with 7.88% or 71.56 million shares worth $9.38 billion as of Mar 30, 2023, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund were the top two Mutual Funds as of Dec 30, 2022. The former held 27.48 million shares worth $3.87 billion, making up 3.03% of all outstanding shares. On the other hand, Vanguard 500 Index Fund held roughly 20.9 million shares worth around $2.94 billion, which represents about 2.30% of the total shares outstanding.