International Business Machines Co. (NYSE:IBM) Shares Purchased by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP increased its stake in shares of International Business Machines Co. (NYSE:IBM) by 2.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 92,046 shares of the technology company’s stock after purchasing an additional 1,837 shares during the period. Westfield Capital Management Co. LP’s holdings in International Business Machines were worth $15,054,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Naples Money Management LLC acquired a new position in shares of International Business Machines during the 4th quarter worth about $28,000. Stone House Investment Management LLC raised its position in shares of International Business Machines by 971.4% during the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock worth $32,000 after purchasing an additional 204 shares during the last quarter. Financial Gravity Asset Management Inc. raised its position in shares of International Business Machines by 67.9% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock worth $32,000 after purchasing an additional 91 shares during the last quarter. Cordant Inc. raised its position in shares of International Business Machines by 753.3% during the 4th quarter. Cordant Inc. now owns 256 shares of the technology company’s stock worth $42,000 after purchasing an additional 226 shares during the last quarter. Finally, Newton One Investments LLC acquired a new stake in International Business Machines in the 4th quarter valued at about $45,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Up 0.1 %

Shares of International Business Machines stock traded up $0.22 during mid-day trading on Friday, hitting $170.89. The stock had a trading volume of 2,587,829 shares, compared to its average volume of 4,034,857. The firm has a 50-day moving average of $179.12 and a two-hundred day moving average of $174.04. International Business Machines Co. has a 12-month low of $125.01 and a 12-month high of $199.18. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. The firm has a market cap of $156.98 billion, a P/E ratio of 19.35, a price-to-earnings-growth ratio of 4.21 and a beta of 0.74.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the company posted $1.36 EPS. Sell-side analysts forecast that International Business Machines Co. will post 9.91 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be given a dividend of $1.67 per share. The ex-dividend date is Thursday, May 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.91%. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Bank of America increased their price objective on shares of International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, March 14th. BNP Paribas assumed coverage on shares of International Business Machines in a report on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 price objective for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of International Business Machines in a report on Wednesday. JPMorgan Chase & Co. cut their price objective on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Finally, Jefferies Financial Group cut their price objective on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a report on Tuesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $181.29.

International Business Machines 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.