International Business Machines Co. (NYSE:IBM) Position Lifted by Mystic Asset Management Inc.

Mystic Asset Management Inc. raised its stake in International Business Machines Co. (NYSE:IBM) by 1.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 7,500 shares of the technology company’s stock after acquiring an additional 75 shares during the period. Mystic Asset Management Inc.’s holdings in International Business Machines were worth $1,297,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Wilkins Investment Counsel Inc. grew its stake in International Business Machines by 2.0% in the second quarter. Wilkins Investment Counsel Inc. now owns 102,115 shares of the technology company’s stock worth $17,661,000 after purchasing an additional 1,968 shares in the last quarter. Diversify Wealth Management LLC acquired a new position in shares of International Business Machines in the 2nd quarter worth approximately $2,040,000. Williams Financial LLC bought a new stake in shares of International Business Machines in the 2nd quarter valued at approximately $6,734,000. OV Management LLC raised its position in shares of International Business Machines by 1.1% during the 2nd quarter. OV Management LLC now owns 10,108 shares of the technology company’s stock valued at $1,748,000 after acquiring an additional 108 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in International Business Machines by 5.5% during the second quarter. Envestnet Asset Management Inc. now owns 1,309,420 shares of the technology company’s stock worth $226,464,000 after purchasing an additional 68,198 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. The Goldman Sachs Group began 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. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Jefferies Financial Group increased their price target on International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Finally, UBS Group raised their target price on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $188.60.

International Business Machines Price Performance

NYSE IBM opened at $214.79 on Friday. The firm has a market capitalization of $197.85 billion, a PE ratio of 24.33, a P/E/G ratio of 4.67 and a beta of 0.70. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $216.09. The company’s 50 day simple moving average is $192.83 and its 200 day simple moving average is $183.39.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating 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 business had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. During the same quarter in the prior year, the firm posted $2.18 earnings per share. The company’s revenue was up 1.9% on a year-over-year basis. As a group, equities research analysts forecast that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a dividend of $1.67 per share. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.11%. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

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.