Railway Pension Investments Ltd Makes New $24.33 Million Investment in International Business Machines Co. (NYSE:IBM)

Railway Pension Investments Ltd purchased a new position in shares of International Business Machines Co. (NYSE:IBM) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 127,400 shares of the technology company’s stock, valued at approximately $24,328,000.

A number of other hedge funds have also recently modified their holdings of IBM. FPC Investment Advisory Inc. purchased a new stake in shares of International Business Machines in the 1st quarter valued at approximately $26,000. Naples Money Management LLC acquired a new position in International Business Machines in the fourth quarter valued at approximately $28,000. ESL Trust Services LLC acquired a new position in International Business Machines in the first quarter valued at approximately $28,000. Creekmur Asset Management LLC purchased a new position in International Business Machines in the fourth quarter worth approximately $29,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new stake in International Business Machines during the fourth quarter worth $31,000. 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 a number of research analyst reports. Morgan Stanley lowered their price target on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. BMO Capital Markets lifted their price target on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. UBS Group upped their price objective on shares of International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a report on Monday, April 22nd. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Finally, BNP Paribas started coverage on International Business Machines in a research note on Thursday, May 2nd. They set an “underperform” rating and a $145.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $184.93.

International Business Machines Stock Down 0.3 %

Shares of IBM stock traded down $0.54 during trading hours on Friday, reaching $189.12. 4,548,824 shares of the stock were exchanged, compared to its average volume of 3,874,536. International Business Machines Co. has a 12-month low of $135.87 and a 12-month high of $199.18. The business’s fifty day moving average is $176.64 and its two-hundred day moving average is $180.08. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The firm has a market capitalization of $174.21 billion, a P/E ratio of 21.42, a P/E/G ratio of 4.24 and a beta of 0.71.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. The business had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company’s revenue was up 1.9% on a year-over-year basis. During the same period last year, the business earned $2.18 EPS. As a group, research analysts expect that International Business Machines Co. will post 10.06 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be given a dividend of $1.67 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.53%. International Business Machines’s dividend payout ratio is currently 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.