International Assets Investment Management LLC Increases Holdings in International Business Machines Co. (NYSE:IBM)

International Assets Investment Management LLC lifted its position in International Business Machines Co. (NYSE:IBM) by 20,324.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,715,636 shares of the technology company’s stock after purchasing an additional 2,702,340 shares during the quarter. International Assets Investment Management LLC owned about 0.30% of International Business Machines worth $600,373,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of IBM. Axecap Investments LLC purchased a new position in International Business Machines during the third quarter valued at approximately $1,096,000. McAdam LLC raised its position in International Business Machines by 1.5% during the third quarter. McAdam LLC now owns 3,570 shares of the technology company’s stock valued at $789,000 after acquiring an additional 52 shares in the last quarter. Courier Capital LLC raised its position in International Business Machines by 3.4% during the third quarter. Courier Capital LLC now owns 49,452 shares of the technology company’s stock valued at $10,933,000 after acquiring an additional 1,630 shares in the last quarter. Litman Gregory Wealth Management LLC purchased a new position in International Business Machines during the third quarter valued at approximately $397,000. Finally, Rebalance LLC raised its position in International Business Machines by 18.7% during the third quarter. Rebalance LLC now owns 1,875 shares of the technology company’s stock valued at $415,000 after acquiring an additional 296 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on IBM. The Goldman Sachs Group lifted their price target on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Jefferies Financial Group boosted their price objective on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research report on Monday. Morgan Stanley boosted their price objective on International Business Machines from $182.00 to $217.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Royal Bank of Canada boosted their price objective on International Business Machines from $211.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Finally, UBS Group boosted their price objective on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $205.71.

International Business Machines Stock Performance

Shares of NYSE:IBM opened at $232.75 on Thursday. 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 business’s 50 day moving average price is $214.67 and its 200-day moving average price is $190.05. The firm has a market capitalization of $213.80 billion, a PE ratio of 26.36, a P/E/G ratio of 5.21 and a beta of 0.70. International Business Machines Co. has a 1 year low of $136.05 and a 1 year high of $237.37.

International Business Machines (NYSE:IBM) last released its quarterly earnings data 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. The company had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.18 earnings per share. As a group, equities research analysts expect that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend was Friday, August 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.