Axecap Investments LLC Grows Stake in International Business Machines Co. (NYSE:IBM)

Axecap Investments LLC grew its stake in shares of International Business Machines Co. (NYSE:IBM) by 6.9% in the 1st quarter, Holdings Channel.com reports. The fund owned 6,067 shares of the technology company’s stock after acquiring an additional 389 shares during the period. International Business Machines comprises about 1.3% of Axecap Investments LLC’s holdings, making the stock its 28th largest position. Axecap Investments LLC’s holdings in International Business Machines were worth $1,509,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Capital World Investors increased its stake in International Business Machines by 413.5% during the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock valued at $2,634,577,000 after purchasing an additional 9,650,534 shares in the last quarter. Norges Bank bought a new stake in shares of International Business Machines during the fourth quarter valued at approximately $1,236,176,000. GAMMA Investing LLC lifted its position in International Business Machines by 29,564.2% in the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company’s stock valued at $10,940,520,000 after acquiring an additional 4,384,958 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in International Business Machines during the 4th quarter valued at $592,746,000. Finally, Northern Trust Corp increased its holdings in shares of International Business Machines by 18.6% in the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock worth $2,384,275,000 after purchasing an additional 1,704,209 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of International Business Machines stock opened at $281.61 on Thursday. The stock has a market cap of $261.73 billion, a P/E ratio of 43.93, a P/E/G ratio of 5.81 and a beta of 0.66. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The stock’s fifty day moving average is $250.36 and its 200 day moving average is $242.96. International Business Machines Co. has a one year low of $167.23 and a one year high of $281.76.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.18. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The business had revenue of $14.54 billion during the quarter, compared to analysts’ expectations of $14.41 billion. During the same quarter in the prior year, the business posted $1.68 earnings per share. The business’s quarterly revenue was up .5% on a year-over-year basis. Sell-side analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a dividend of $1.68 per share. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a yield of 2.39%. International Business Machines’s dividend payout ratio (DPR) is presently 115.66%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. KGI Securities set a $242.00 price target on International Business Machines and gave the company a “hold” rating in a report on Thursday, April 24th. Wedbush restated an “outperform” rating and set a $300.00 target price on shares of International Business Machines in a research note on Wednesday, May 7th. Morgan Stanley dropped their price target on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Finally, Wall Street Zen downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $250.31.

About International Business Machines

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.