Royal London Asset Management Ltd. Buys 12,428 Shares of International Business Machines Co. (NYSE:IBM)

Royal London Asset Management Ltd. boosted its position in shares of International Business Machines Co. (NYSE:IBM) by 3.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 386,427 shares of the technology company’s stock after acquiring an additional 12,428 shares during the period. Royal London Asset Management Ltd.’s holdings in International Business Machines were worth $66,833,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Mosley Wealth Management purchased a new stake in shares of International Business Machines during the fourth quarter worth about $312,000. Hodges Capital Management Inc. grew its holdings in International Business Machines by 60.8% during the 1st quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock valued at $3,921,000 after buying an additional 7,768 shares in the last quarter. Burns J W & Co. Inc. NY raised its position in shares of International Business Machines by 10.8% during the first quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock valued at $491,000 after buying an additional 250 shares during the last quarter. 1832 Asset Management L.P. purchased a new position in shares of International Business Machines in the fourth quarter worth $3,017,000. Finally, Westwood Holdings Group Inc. boosted its position in shares of International Business Machines by 19.9% during the fourth quarter. Westwood Holdings Group Inc. now owns 115,321 shares of the technology company’s stock worth $18,861,000 after acquiring an additional 19,175 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of NYSE:IBM opened at $203.53 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $205.95. The company has a market capitalization of $187.48 billion, a price-to-earnings ratio of 23.05, a PEG ratio of 4.47 and a beta of 0.70. The firm’s 50-day moving average is $190.09 and its 200 day moving average is $182.66.

International Business Machines (NYSE:IBM) last released 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. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same quarter in the prior year, the firm posted $2.18 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis. Research analysts predict that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Announces Dividend

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 given 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 3.28%. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

Analyst Ratings Changes

Several analysts have commented on the stock. UBS Group boosted their price target on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. BMO Capital Markets increased their price target on 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. Jefferies Financial Group raised their price target on International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Finally, StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average target price 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.