International Business Machines (NYSE:IBM) Shares Up 1.7% - Here's Why
IBM's stock rose 1.7% to $307.82, with a trading volume decline of 40%. Analysts have mixed ratings: Wall Street Zen upgraded to 'buy', Morgan Stanley set 'equal weight', and Stifel Nicolaus reduced price objective to $295. IBM reported Q3 EPS of $2.65, beating estimates, with revenue up 9.1% year-over-year. The company announced a quarterly dividend of $1.68 per share, with a yield of 2.2%. Hedge funds own 58.96% of IBM's stock.
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