DMC Group LLC boosted its position in International Business Machines Co. (NYSE:IBM – Free Report) by 34.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,997 shares of the technology company’s stock after purchasing an additional 765 shares during the period. DMC Group LLC’s holdings in International Business Machines were worth $401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Live Oak Investment Partners purchased a new stake in shares of International Business Machines during the 4th quarter worth $30,000. GW&K Investment Management LLC bought a new position in shares of International Business Machines during the 1st quarter worth approximately $33,000. First Command Advisory Services Inc. purchased a new stake in International Business Machines during the first quarter valued at approximately $37,000. Pacific Center for Financial Services purchased a new position in International Business Machines in the first quarter worth $41,000. Finally, Kepos Capital LP purchased a new position in shares of International Business Machines in the fourth quarter worth $42,000. 56.16% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on IBM shares. Bank of America increased their price objective on shares of International Business Machines from $152.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, July 20th. JPMorgan Chase & Co. began coverage on International Business Machines in a report on Friday, July 7th. They issued a “neutral” rating and a $145.00 price objective on the stock. Wedbush reissued a “neutral” rating and set a $140.00 target price on shares of International Business Machines in a report on Thursday, July 20th. BMO Capital Markets raised their target price on International Business Machines from $145.00 to $150.00 and gave the company a “market perform” rating in a research report on Monday, July 17th. Finally, StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $142.91.
International Business Machines Trading Up 0.7 %
Shares of NYSE IBM traded up $0.96 during trading on Tuesday, reaching $146.05. The stock had a trading volume of 1,902,664 shares, compared to its average volume of 4,528,032. The business’s 50-day moving average price is $142.59 and its 200-day moving average price is $133.71. International Business Machines Co. has a fifty-two week low of $115.54 and a fifty-two week high of $153.21. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.01 and a current ratio of 1.06. The company has a market cap of $133.05 billion, a P/E ratio of 67.18, a PEG ratio of 3.71 and a beta of 0.85.
International Business Machines (NYSE:IBM – Get Free Report) last issued its quarterly earnings results on Wednesday, July 19th. The technology company reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.18. International Business Machines had a net margin of 3.35% and a return on equity of 38.10%. The company had revenue of $15.48 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same period in the prior year, the firm earned $2.31 earnings per share. The business’s revenue for the quarter was down .4% compared to the same quarter last year. On average, equities research analysts predict that International Business Machines Co. will post 9.43 EPS for the current fiscal year.
International Business Machines Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Saturday, September 9th. Investors of record on Thursday, August 10th were issued a $1.66 dividend. This represents a $6.64 annualized dividend and a yield of 4.55%. The ex-dividend date of this dividend was Wednesday, August 9th. International Business Machines’s dividend payout ratio (DPR) is presently 307.41%.
About International Business Machines
International Business Machines Corporation, together with its subsidiaries, 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; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.
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