Gradient Investments LLC Acquires 867 Shares of International Business Machines Co. (NYSE:IBM)

Gradient Investments LLC increased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 51.7% during the second quarter, Holdings Channel reports. The fund owned 2,545 shares of the technology company’s stock after acquiring an additional 867 shares during the quarter. Gradient Investments LLC’s holdings in International Business Machines were worth $440,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. 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 worth $16,833,642,000 after buying an additional 5,546,855 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in International Business Machines by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,465,214 shares of the technology company’s stock worth $1,048,631,000 after acquiring an additional 61,028 shares during the last quarter. Norges Bank bought a new stake in shares of International Business Machines during the fourth quarter worth approximately $1,019,009,000. Dimensional Fund Advisors LP grew its position in shares of International Business Machines by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,500,184 shares of the technology company’s stock valued at $736,015,000 after purchasing an additional 97,482 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of International Business Machines by 151.6% during 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 purchasing an additional 2,118,165 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of International Business Machines stock traded down $0.17 during trading on Friday, reaching $193.78. 2,494,472 shares of the company’s stock were exchanged, compared to its average volume of 4,344,165. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $199.18. The company has a market cap of $178.01 billion, a P/E ratio of 21.93, a PEG ratio of 4.24 and a beta of 0.71. The firm’s 50-day moving average price is $181.13 and its 200 day moving average price is $181.08.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. The firm had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.18 earnings per share. As a group, research analysts anticipate that International Business Machines Co. will post 10.06 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be issued a dividend of $1.67 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.45%. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Wall Street Analyst Weigh In

IBM has been the topic of a number of research reports. BMO Capital Markets upped their price objective on International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Jefferies Financial Group raised their price target on shares of International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Stifel Nicolaus raised their target price on shares of International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, UBS Group lifted their price target on shares of International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a research report on Monday, April 22nd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $184.93.

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.