Mitsubishi UFJ Asset Management Co. Ltd. Buys 99,702 Shares of International Business Machines Corporation $IBM

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in International Business Machines Corporation (NYSE:IBMFree Report) by 5.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,103,553 shares of the technology company’s stock after buying an additional 99,702 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in International Business Machines were worth $613,186,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Waverton Investment Management Ltd lifted its position in shares of International Business Machines by 3.3% in the 3rd quarter. Waverton Investment Management Ltd now owns 993,743 shares of the technology company’s stock worth $280,439,000 after acquiring an additional 32,072 shares during the period. Newbridge Financial Services Group Inc. lifted its position in shares of International Business Machines by 30.0% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 13,122 shares of the technology company’s stock worth $3,887,000 after acquiring an additional 3,029 shares during the period. NEOS Investment Management LLC lifted its position in shares of International Business Machines by 51.7% in the 3rd quarter. NEOS Investment Management LLC now owns 114,395 shares of the technology company’s stock worth $32,278,000 after acquiring an additional 38,973 shares during the period. Advisors Capital Management LLC lifted its position in shares of International Business Machines by 3.8% in the 3rd quarter. Advisors Capital Management LLC now owns 347,155 shares of the technology company’s stock worth $97,953,000 after acquiring an additional 12,623 shares during the period. Finally, Handelsbanken Fonder AB lifted its position in shares of International Business Machines by 1.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 330,814 shares of the technology company’s stock worth $93,342,000 after acquiring an additional 6,235 shares during the period. Institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on IBM shares. Stifel Nicolaus dropped their target price on International Business Machines from $340.00 to $290.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. Wall Street Zen cut International Business Machines from a “buy” rating to a “hold” rating in a report on Sunday, January 11th. Evercore increased their target price on International Business Machines from $330.00 to $345.00 and gave the stock an “outperform” rating in a report on Thursday, January 29th. Royal Bank Of Canada dropped their target price on International Business Machines from $361.00 to $330.00 and set an “outperform” rating for the company in a report on Friday, April 17th. Finally, Morgan Stanley increased their target price on International Business Machines from $215.00 to $225.00 and gave the stock an “equal weight” rating in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $296.18.

View Our Latest Research Report on International Business Machines

Key Stories Impacting International Business Machines

Here are the key news stories impacting International Business Machines this week:

Insiders Place Their Bets

In other International Business Machines news, Director Michael Miebach bought 434 shares of International Business Machines stock in a transaction on Wednesday, February 25th. The shares were purchased at an average cost of $233.33 per share, for a total transaction of $101,265.22. Following the completion of the acquisition, the director owned 434 shares in the company, valued at approximately $101,265.22. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.27% of the company’s stock.

International Business Machines Trading Down 0.2%

IBM stock opened at $229.01 on Wednesday. The business has a fifty day moving average price of $242.95 and a 200 day moving average price of $278.53. International Business Machines Corporation has a fifty-two week low of $220.72 and a fifty-two week high of $324.90. The stock has a market capitalization of $215.24 billion, a price-to-earnings ratio of 20.25, a P/E/G ratio of 2.38 and a beta of 0.58. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.80 and a quick ratio of 0.76.

International Business Machines (NYSE:IBMGet Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.10. The firm had revenue of $15.92 billion during the quarter, compared to analysts’ expectations of $15.60 billion. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The business’s revenue was up 9.5% on a year-over-year basis. During the same period last year, the firm posted $1.60 EPS. Analysts expect that International Business Machines Corporation will post 12.38 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th will be issued a dividend of $1.69 per share. This is a boost from International Business Machines’s previous quarterly dividend of $1.68. This represents a $6.76 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, May 8th. International Business Machines’s dividend payout ratio is presently 59.42%.

International Business Machines Company Profile

(Free Report)

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.

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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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