Van ECK Associates Corp Decreases Holdings in International Business Machines Co. (NYSE:IBM)

Van ECK Associates Corp reduced its position in International Business Machines Co. (NYSE:IBM) by 7.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,156 shares of the technology company’s stock after selling 11,786 shares during the period. Van ECK Associates Corp’s holdings in International Business Machines were worth $27,007,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arden Trust Co boosted its position in shares of International Business Machines by 2.8% in the 1st quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock worth $377,000 after buying an additional 54 shares in the last quarter. Armbruster Capital Management Inc. lifted its holdings in shares of International Business Machines by 2.3% in the second quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company’s stock valued at $432,000 after purchasing an additional 56 shares in the last quarter. CVA Family Office LLC grew its position in shares of International Business Machines by 3.3% in the second quarter. CVA Family Office LLC now owns 1,796 shares of the technology company’s stock valued at $311,000 after purchasing an additional 57 shares during the last quarter. Chicago Partners Investment Group LLC increased its stake in shares of International Business Machines by 0.8% during the 4th quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock worth $1,309,000 after purchasing an additional 58 shares in the last quarter. Finally, Peddock Capital Advisors LLC raised its position in shares of International Business Machines by 0.6% during the 2nd quarter. Peddock Capital Advisors LLC now owns 10,040 shares of the technology company’s stock worth $1,736,000 after purchasing an additional 58 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Trading Up 1.6 %

IBM stock traded up $3.23 during trading on Friday, reaching $202.13. 4,750,999 shares of the stock traded hands, compared to its average volume of 2,830,863. The firm has a market capitalization of $186.19 billion, a PE ratio of 22.89, a P/E/G ratio of 4.50 and a beta of 0.71. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The business’s 50 day moving average price is $186.57 and its 200-day moving average price is $181.93. International Business Machines Co. has a 52-week low of $135.87 and a 52-week high of $202.17.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping 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 business had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same quarter in the previous year, the business earned $2.18 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, sell-side analysts forecast that International Business Machines Co. will post 10.09 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date is Friday, August 9th. International Business Machines’s dividend payout ratio is presently 75.65%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Jefferies Financial Group lifted their price objective on International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Royal Bank of Canada upped their target price on shares of International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. The Goldman Sachs Group assumed coverage on shares of International Business Machines in a report on Monday, June 24th. They set a “buy” rating and a $200.00 price target for the company. Finally, BMO Capital Markets upped their price objective on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $184.93.

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.