International Business Machines Co. (NYSE:IBM) Shares Purchased by Greystone Financial Group LLC

Greystone Financial Group LLC lifted its holdings in International Business Machines Co. (NYSE:IBM) by 14.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,310 shares of the technology company’s stock after acquiring an additional 6,582 shares during the period. International Business Machines makes up 1.7% of Greystone Financial Group LLC’s portfolio, making the stock its 25th biggest position. Greystone Financial Group LLC’s holdings in International Business Machines were worth $8,874,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in IBM. Norges Bank purchased a new position in shares of International Business Machines in the fourth quarter valued at $1,019,009,000. Vanguard Group Inc. boosted its holdings in International Business Machines by 6.7% in the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after purchasing an additional 5,546,855 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in International Business Machines by 151.6% during the 1st 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 purchasing an additional 2,118,165 shares in the last quarter. Capital Wealth Planning LLC purchased a new stake in International Business Machines during the 4th quarter worth approximately $172,887,000. Finally, National Bank of Canada FI boosted its stake in shares of International Business Machines by 79.4% during the 1st quarter. National Bank of Canada FI now owns 922,496 shares of the technology company’s stock valued at $176,160,000 after buying an additional 408,230 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE IBM traded down $1.85 during mid-day trading on Friday, reaching $200.74. The company had a trading volume of 3,304,491 shares, compared to its average volume of 4,223,954. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $205.95. The stock has a market cap of $184.40 billion, a PE ratio of 22.75, a P/E/G ratio of 4.50 and a beta of 0.71. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The company has a 50-day moving average price of $189.52 and a two-hundred day moving average price of $182.51.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.27. The business had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the firm posted $2.18 earnings per share. On average, equities analysts anticipate that International Business Machines Co. will post 10.09 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors 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 3.33%. International Business Machines’s dividend payout ratio is 75.65%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on IBM. UBS Group increased their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday. Jefferies Financial Group increased their target price on International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Royal Bank of Canada lifted their price objective on shares of International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target 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.