Lee Danner & Bass Inc. purchased a new position in shares of International Business Machines Co. (NYSE:IBM – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,197 shares of the technology company’s stock, valued at approximately $2,282,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FPC Investment Advisory Inc. bought a new stake in International Business Machines in the first quarter worth about $26,000. ESL Trust Services LLC bought a new stake in International Business Machines in the first quarter worth about $28,000. Creekmur Asset Management LLC bought a new stake in International Business Machines in the fourth quarter worth about $29,000. Ables Iannone Moore & Associates Inc. bought a new stake in International Business Machines in the fourth quarter worth about $31,000. Finally, Financial Synergies Wealth Advisors Inc. raised its position in International Business Machines by 164.0% in the first 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 period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.
International Business Machines Price Performance
International Business Machines stock traded up $3.17 during midday trading on Friday, reaching $202.07. 4,750,676 shares of the stock were exchanged, compared to its average volume of 4,243,869. The company’s fifty day moving average is $185.98 and its 200-day moving average is $181.83. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The firm has a market cap of $185.62 billion, a PE ratio of 22.89, a PEG ratio of 4.24 and a beta of 0.71. International Business Machines Co. has a 52 week low of $135.87 and a 52 week high of $202.17.
International Business Machines Announces Dividend
The business 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 $1.67 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a yield of 3.31%. International Business Machines’s dividend payout ratio is presently 75.65%.
Wall Street Analyst Weigh In
Several analysts have commented on IBM shares. BNP Paribas started coverage on shares of International Business Machines in a research report on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 price objective on the stock. 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 research report on Thursday, July 25th. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. The Goldman Sachs Group started coverage on shares of International Business Machines in a research report on Monday, June 24th. They issued a “buy” rating and a $200.00 price target on the stock. Finally, Jefferies Financial Group boosted their price target on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and a consensus target price of $184.93.
Read Our Latest Research Report on International Business Machines
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.
Recommended Stories
- Five stocks we like better than International Business Machines
- What is MarketRank™? How to Use it
- The Solar Stock Battle: Is Daqo or JinkoSolar Your Next Big Win?
- About the Markup Calculator
- Are These Chinese Stocks a Buy? Michael Burry’s Top Picks Say Yes
- How to Invest in Small Cap Stocks
- Five Below Stock Faces Challenges Despite Strong Revenue Growth
Receive News & Ratings for International Business Machines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Business Machines and related companies with MarketBeat.com's FREE daily email newsletter.