Broderick Brian C Increases Position in International Business Machines Co. (NYSE:IBM)

Broderick Brian C raised its holdings in shares of International Business Machines Co. (NYSE:IBM) by 120.3% in the 1st quarter, Holdings Channel reports. The institutional investor owned 4,762 shares of the technology company’s stock after purchasing an additional 2,600 shares during the quarter. Broderick Brian C’s holdings in International Business Machines were worth $909,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Vontobel Holding Ltd. boosted its holdings in shares of International Business Machines by 20.3% in the fourth quarter. Vontobel Holding Ltd. now owns 477,193 shares of the technology company’s stock valued at $78,045,000 after purchasing an additional 80,474 shares during the period. Tsfg LLC boosted its holdings in shares of International Business Machines by 40.5% in the fourth quarter. Tsfg LLC now owns 378 shares of the technology company’s stock valued at $62,000 after purchasing an additional 109 shares during the period. Auxano Advisors LLC boosted its holdings in shares of International Business Machines by 4.8% in the fourth quarter. Auxano Advisors LLC now owns 3,398 shares of the technology company’s stock valued at $556,000 after purchasing an additional 156 shares during the period. West Family Investments Inc. boosted its holdings in shares of International Business Machines by 7.6% in the fourth quarter. West Family Investments Inc. now owns 2,736 shares of the technology company’s stock valued at $447,000 after purchasing an additional 194 shares during the period. Finally, Mosley Wealth Management purchased a new stake in shares of International Business Machines in the fourth quarter valued at approximately $312,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on IBM shares. Bank of America boosted their price target on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Jefferies Financial Group lowered their target price on International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a report on Tuesday, April 23rd. The Goldman Sachs Group assumed coverage on International Business Machines in a report on Monday, June 24th. They set a “buy” rating and a $200.00 target price for the company. BMO Capital Markets lowered their target price on International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a report on Thursday, April 25th. Finally, Morgan Stanley lowered their target price 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. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $182.53.

International Business Machines Stock Performance

Shares of NYSE IBM traded up $0.45 during mid-day trading on Thursday, hitting $178.29. The stock had a trading volume of 2,806,788 shares, compared to its average volume of 4,450,637. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13. The company has a 50 day moving average of $170.81 and a two-hundred day moving average of $177.30. International Business Machines Co. has a twelve month low of $132.57 and a twelve month high of $199.18. The firm has a market cap of $163.78 billion, a PE ratio of 20.19, a PEG ratio of 4.38 and a beta of 0.71.

International Business Machines (NYSE:IBM) last released its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. During the same period in the prior year, the firm earned $1.36 EPS. The firm’s revenue was up 1.5% on a year-over-year basis. Research analysts predict that International Business Machines Co. will post 9.9 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were given a dividend of $1.67 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a yield of 3.75%. The ex-dividend date was Thursday, May 9th. International Business Machines’s dividend payout ratio (DPR) is currently 75.65%.

International Business Machines Company 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.