Capital World Investors Purchases Shares of 323,966 International Business Machines Co. (NYSE:IBM)

Capital World Investors acquired a new position in International Business Machines Co. (NYSE:IBM) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 323,966 shares of the technology company’s stock, valued at approximately $61,865,000.

Other hedge funds have also made changes to their positions in the company. Atalanta Sosnoff Capital LLC raised its position in International Business Machines by 2.8% in the first quarter. Atalanta Sosnoff Capital LLC now owns 94,103 shares of the technology company’s stock valued at $17,970,000 after purchasing an additional 2,559 shares during the period. Axxcess Wealth Management LLC raised its holdings in shares of International Business Machines by 5.3% during the 1st quarter. Axxcess Wealth Management LLC now owns 16,174 shares of the technology company’s stock valued at $3,089,000 after buying an additional 817 shares during the period. EP Wealth Advisors LLC raised its holdings in shares of International Business Machines by 7.3% during the 1st quarter. EP Wealth Advisors LLC now owns 28,273 shares of the technology company’s stock valued at $5,399,000 after buying an additional 1,935 shares during the period. Freestone Capital Holdings LLC lifted its position in International Business Machines by 12.4% during the 1st quarter. Freestone Capital Holdings LLC now owns 16,320 shares of the technology company’s stock worth $3,116,000 after acquiring an additional 1,799 shares in the last quarter. Finally, CreativeOne Wealth LLC boosted its holdings in International Business Machines by 102.9% in the 1st quarter. CreativeOne Wealth LLC now owns 15,998 shares of the technology company’s stock worth $3,055,000 after acquiring an additional 8,113 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on IBM. Jefferies Financial Group boosted their target price on shares of International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday. JPMorgan Chase & Co. cut their price objective on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. BNP Paribas began coverage on International Business Machines in a research note on Thursday, May 2nd. They set an “underperform” rating and a $145.00 target price for the company. Morgan Stanley cut their price target on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Finally, Stifel Nicolaus raised their price objective on International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $184.93.

International Business Machines Trading Down 0.1 %

International Business Machines stock opened at $191.75 on Friday. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.09 and a current ratio of 1.12. International Business Machines Co. has a 1 year low of $135.87 and a 1 year high of $199.18. The firm’s 50-day moving average is $174.75 and its 200-day moving average is $179.25. The company has a market cap of $176.14 billion, a P/E ratio of 21.72, a PEG ratio of 4.69 and a beta of 0.71.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. The company had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. International Business Machines’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.18 earnings per share. On average, equities analysts expect that International Business Machines Co. will post 10.06 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 3.48%. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date was Thursday, May 9th. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

International Business Machines Profile

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.