Oppenheimer & Co. Inc. Raises Holdings in International Business Machines Co. (NYSE:IBM)

Oppenheimer & Co. Inc. increased its stake in International Business Machines Co. (NYSE:IBM) by 0.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,712 shares of the technology company’s stock after acquiring an additional 140 shares during the period. Oppenheimer & Co. Inc.’s holdings in International Business Machines were worth $12,576,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IBM. FPC Investment Advisory Inc. purchased a new position in International Business Machines in the first quarter worth about $26,000. ESL Trust Services LLC purchased a new position in shares of International Business Machines during the first quarter valued at approximately $28,000. Creekmur Asset Management LLC bought a new position in shares of International Business Machines during the fourth quarter valued at approximately $29,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of International Business Machines in the fourth quarter worth approximately $31,000. Finally, Financial Synergies Wealth Advisors Inc. lifted its stake in shares of International Business Machines by 164.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after acquiring an additional 123 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 IBM stock opened at $211.61 on Friday. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $212.65. The stock’s 50-day moving average is $192.05 and its 200 day moving average is $183.18. The company has a market cap of $194.92 billion, a P/E ratio of 23.96, a PEG 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 (NYSE:IBM) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter last year, the company earned $2.18 earnings per share. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. Research analysts predict that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 3.16%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio is presently 75.65%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Stifel Nicolaus upped their price objective on International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. StockNews.com upgraded 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. Royal Bank of Canada increased their target price on International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, 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 research note on Thursday, July 25th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $188.60.

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.