NFJ Investment Group LLC purchased a new stake in International Business Machines Corporation (NYSE:IBM – Free Report) during the second quarter, according to its most recent filing with the SEC. The fund purchased 67,315 shares of the technology company’s stock, valued at approximately $18,930,000.
Several other hedge funds have also bought and sold shares of the stock. BlackRock Inc. bought a new position in International Business Machines during the second quarter valued at approximately $21,586,659,000. State Street Corp raised its holdings in shares of International Business Machines by 1.0% during the 4th quarter. State Street Corp now owns 54,996,293 shares of the technology company’s stock worth $16,290,452,000 after acquiring an additional 518,321 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of International Business Machines by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 22,605,083 shares of the technology company’s stock worth $6,679,105,000 after acquiring an additional 336,069 shares in the last quarter. Capital World Investors boosted its position in shares of International Business Machines by 29.2% during the 4th quarter. Capital World Investors now owns 22,021,912 shares of the technology company’s stock valued at $6,523,720,000 after acquiring an additional 4,976,756 shares during the last quarter. Finally, Bank of America Corp DE increased its position in International Business Machines by 7.0% in the first quarter. Bank of America Corp DE now owns 16,063,653 shares of the technology company’s stock worth $3,893,669,000 after purchasing an additional 1,049,602 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.
Analysts Set New Price Targets
IBM has been the subject of several research reports. JPMorgan Chase & Co. lowered their price objective on shares of International Business Machines from $291.00 to $250.00 and set an “overweight” rating for the company in a research report on Friday, July 17th. Wolfe Research downgraded shares of International Business Machines to a “peer perform” rating in a report on Tuesday, June 23rd. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of International Business Machines in a report on Thursday, July 16th. BMO Capital Markets dropped their price target on International Business Machines from $270.00 to $230.00 and set a “market perform” rating for the company in a research report on Thursday, July 23rd. Finally, Piper Sandler raised International Business Machines to an “overweight” rating in a research note on Tuesday, June 23rd. Sixteen analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $265.90.
Insider Transactions at International Business Machines
In related news, SVP Robert Thomas sold 25,000 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $230.32, for a total transaction of $5,758,000.00. Following the completion of the transaction, the senior vice president owned 47,800 shares in the company, valued at $11,009,296. The trade was a 34.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is currently owned by insiders.
International Business Machines Stock Performance
Shares of NYSE:IBM opened at $234.87 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.63. International Business Machines Corporation has a 12 month low of $199.19 and a 12 month high of $332.46. The company has a market capitalization of $221.28 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 2.24 and a beta of 0.71. The firm’s 50-day moving average is $241.67 and its 200 day moving average is $247.13.
International Business Machines (NYSE:IBM – Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The technology company reported $2.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.93. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. The business had revenue of $17.16 billion during the quarter, compared to the consensus estimate of $17.46 billion. During the same quarter last year, the firm earned $2.80 earnings per share. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. Research analysts predict that International Business Machines Corporation will post 12.33 EPS for the current year.
International Business Machines Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be paid a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, August 10th. International Business Machines’s dividend payout ratio (DPR) is currently 59.98%.
About International Business Machines
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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