Terra Nova Asset Management LLC Increases Stake in International Business Machines Corporation (NYSE:IBM)

Terra Nova Asset Management LLC grew its stake in shares of International Business Machines Corporation (NYSE:IBM) by 6.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,531 shares of the technology company’s stock after buying an additional 687 shares during the period. International Business Machines accounts for 2.3% of Terra Nova Asset Management LLC’s portfolio, making the stock its 14th biggest holding. Terra Nova Asset Management LLC’s holdings in International Business Machines were worth $2,867,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. BMO Capital Markets restated a “market perform” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Bank of America boosted their price objective on International Business Machines from $290.00 to $320.00 and gave the stock a “buy” rating in a research note on Wednesday, June 18th. Erste Group Bank raised International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. KGI Securities set a $242.00 target price on International Business Machines and gave the company a “hold” rating in a research report on Thursday, April 24th. Finally, Wall Street Zen lowered International Business Machines from a “buy” rating to a “hold” rating in a 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $253.75.

International Business Machines Stock Performance

International Business Machines stock opened at $291.38 on Thursday. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. The company has a market capitalization of $270.81 billion, a PE ratio of 50.15, a P/E/G ratio of 6.17 and a beta of 0.66. The company has a 50 day moving average price of $260.83 and a 200-day moving average price of $246.71. International Business Machines Corporation has a fifty-two week low of $170.41 and a fifty-two week high of $296.16.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.18. The company had revenue of $14.54 billion for the quarter, compared to analysts’ expectations of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the prior year, the business earned $1.68 EPS. As a group, equities analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were given a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.31%. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio (DPR) is presently 115.66%.

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.