Milestone Asset Management LLC Boosts Stock Position in International Business Machines Co. (NYSE:IBM)

Milestone Asset Management LLC increased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 30.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,793 shares of the technology company’s stock after buying an additional 3,479 shares during the period. Milestone Asset Management LLC’s holdings in International Business Machines were worth $2,558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of International Business Machines during the fourth quarter worth about $1,019,009,000. Vanguard Group Inc. increased its stake in 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 in the last quarter. Price T Rowe Associates Inc. MD raised its holdings 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 valued at $671,352,000 after acquiring an additional 2,118,165 shares during the last quarter. Capital Wealth Planning LLC acquired a new position in shares of International Business Machines during the fourth quarter valued at approximately $172,887,000. Finally, National Bank of Canada FI lifted its position in shares of International Business Machines by 79.4% in the first quarter. National Bank of Canada FI now owns 922,496 shares of the technology company’s stock valued at $176,160,000 after acquiring an additional 408,230 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Up 0.5 %

Shares of International Business Machines stock traded up $0.90 during trading hours on Monday, hitting $194.68. The company’s stock had a trading volume of 2,361,263 shares, compared to its average volume of 4,331,680. The stock has a market cap of $178.83 billion, a price-to-earnings ratio of 22.10, a P/E/G ratio of 4.24 and a beta of 0.71. 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 twelve month low of $135.87 and a twelve month high of $199.18. The firm has a fifty day moving average of $181.13 and a 200-day moving average of $181.01.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. The company had revenue of $15.77 billion for 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%. International Business Machines’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 company posted $2.18 earnings per share. Research analysts forecast that International Business Machines Co. will post 10.06 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date is Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

Wall Street Analyst Weigh In

Several research firms recently commented on IBM. Wedbush increased their price objective on International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. reduced their target price on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a research report on Thursday, April 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 note on Thursday, July 25th. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Finally, The Goldman Sachs Group started coverage on shares of International Business Machines in a research note on Monday, June 24th. They issued a “buy” rating and a $200.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $184.93.

International Business Machines 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.