International Business Machines Co. (NYSE:IBM) Shares Bought by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co grew its position in International Business Machines Co. (NYSE:IBM) by 0.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 84,118 shares of the technology company’s stock after acquiring an additional 685 shares during the period. Elo Mutual Pension Insurance Co’s holdings in International Business Machines were worth $14,548,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Arden Trust Co raised its position in shares of International Business Machines by 2.8% in the 1st quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock worth $377,000 after buying an additional 54 shares during the period. Armbruster Capital Management Inc. lifted its stake in shares of International Business Machines by 2.3% in the 2nd quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company’s stock valued at $432,000 after purchasing an additional 56 shares in the last quarter. CVA Family Office LLC grew its holdings in shares of International Business Machines by 3.3% during the 2nd quarter. CVA Family Office LLC now owns 1,796 shares of the technology company’s stock worth $311,000 after purchasing an additional 57 shares during the period. Chicago Partners Investment Group LLC increased its position in International Business Machines by 0.8% during the 4th quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock worth $1,309,000 after purchasing an additional 58 shares in the last quarter. Finally, Peddock Capital Advisors LLC raised its holdings in International Business Machines by 0.6% in the second quarter. Peddock Capital Advisors LLC now owns 10,040 shares of the technology company’s stock valued at $1,736,000 after buying an additional 58 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $214.13 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The firm has a 50-day simple moving average of $194.37 and a 200 day simple moving average of $183.78. International Business Machines Co. has a fifty-two week low of $135.87 and a fifty-two week high of $218.84. The company has a market cap of $196.70 billion, a PE ratio of 24.25, a P/E/G ratio of 4.67 and a beta of 0.70.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the prior year, the firm earned $2.18 EPS. The business’s quarterly revenue was up 1.9% on a year-over-year basis. On average, sell-side analysts anticipate that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued a dividend of $1.67 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.12%. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group increased their price objective 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, July 25th. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. The Goldman Sachs Group began coverage on shares of International Business Machines in a research note on Monday, June 24th. They issued a “buy” rating and a $200.00 target price for the company. Royal Bank of Canada boosted their price objective on shares of International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Stifel Nicolaus raised their target price on International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $188.60.

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.