Gallacher Capital Management LLC Buys 1,747 Shares of International Business Machines Co. (NYSE:IBM)

Gallacher Capital Management LLC lifted its stake in International Business Machines Co. (NYSE:IBM) by 122.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,169 shares of the technology company’s stock after buying an additional 1,747 shares during the quarter. Gallacher Capital Management LLC’s holdings in International Business Machines were worth $548,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Norges Bank purchased a new position in International Business Machines during the fourth quarter valued at approximately $1,019,009,000. Vanguard Group Inc. lifted its stake in shares of International Business Machines by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after buying an additional 5,546,855 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in International Business Machines by 151.6% in the 1st 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. Capital Wealth Planning LLC purchased a new stake in International Business Machines in the 4th quarter worth $172,887,000. Finally, Strategic Financial Concepts LLC raised its holdings in International Business Machines by 12,282.2% during the second quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock valued at $817,000 after acquiring an additional 468,567 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

International Business Machines stock opened at $200.74 on Friday. 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 $184.40 billion, a P/E ratio of 22.73, a price-to-earnings-growth ratio of 4.50 and a beta of 0.71. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $205.95. The company’s 50-day moving average is $189.52 and its 200 day moving average is $182.50.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data 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. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The company had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same quarter in the prior year, the firm earned $2.18 earnings per share. International Business Machines’s revenue was up 1.9% compared to the same quarter last year. Research analysts forecast that International Business Machines Co. will post 10.09 EPS for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be issued a $1.67 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a yield of 3.33%. International Business Machines’s dividend payout ratio is presently 75.65%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on IBM shares. The Goldman Sachs Group began coverage on International Business Machines in a research note on Monday, June 24th. They issued a “buy” rating and a $200.00 price objective for the company. UBS Group lifted their target price on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Jefferies Financial Group upped their price objective on International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, Stifel Nicolaus raised 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. 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 presently has a consensus rating of “Hold” and a consensus target price of $185.93.

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.