GAMMA Investing LLC Purchases 2,788 Shares of International Business Machines Co. (NYSE:IBM)

GAMMA Investing LLC increased its position in International Business Machines Co. (NYSE:IBM) by 42.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,370 shares of the technology company’s stock after acquiring an additional 2,788 shares during the quarter. GAMMA Investing LLC’s holdings in International Business Machines were worth $1,621,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in shares of International Business Machines in the fourth quarter worth $1,019,009,000. Vanguard Group Inc. increased its stake in shares of International Business Machines by 6.7% in the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after buying an additional 5,546,855 shares during the period. International Assets Investment Management LLC increased its stake in shares of International Business Machines by 15,439.1% in the fourth quarter. International Assets Investment Management LLC now owns 2,653,462 shares of the technology company’s stock worth $433,974,000 after buying an additional 2,636,386 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of International Business Machines by 151.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after buying an additional 2,118,165 shares during the period. Finally, Capital Wealth Planning LLC bought a new stake in International Business Machines in the fourth quarter valued at $172,887,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

International Business Machines stock traded down $0.54 during midday trading on Friday, hitting $189.12. The stock had a trading volume of 4,548,824 shares, compared to its average volume of 3,874,536. The firm’s fifty day moving average is $176.64 and its two-hundred day moving average is $180.27. The company has a market capitalization of $174.21 billion, a PE ratio of 21.42, a P/E/G ratio of 4.24 and a beta of 0.71. International Business Machines Co. has a 52-week low of $135.87 and a 52-week high of $199.18. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.27. The company had revenue of $15.77 billion during 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 firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.18 EPS. On average, research analysts forecast that International Business Machines Co. will post 10.06 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date is Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is currently 75.65%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IBM. 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 report on Thursday, July 25th. Stifel Nicolaus boosted their target price on shares of International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, July 25th. The Goldman Sachs Group assumed coverage on shares of International Business Machines in a report on Monday, June 24th. They set a “buy” rating and a $200.00 target price on the stock. Morgan Stanley dropped their target price on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Finally, Wedbush boosted their target price on shares of International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $184.93.

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.