Bourne Lent Asset Management Inc. Buys Shares of 1,150 International Business Machines Co. (NYSE:IBM)

Bourne Lent Asset Management Inc. purchased a new position in International Business Machines Co. (NYSE:IBM) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,150 shares of the technology company’s stock, valued at approximately $220,000.

Several other hedge funds have also recently made changes to their positions in IBM. Clearbridge Investments LLC boosted its stake in shares of International Business Machines by 5.8% during the 3rd quarter. Clearbridge Investments LLC now owns 34,406 shares of the technology company’s stock worth $4,827,000 after acquiring an additional 1,891 shares during the last quarter. Natixis Advisors L.P. grew its holdings in International Business Machines by 18.1% during the third quarter. Natixis Advisors L.P. now owns 372,307 shares of the technology company’s stock valued at $52,235,000 after purchasing an additional 57,170 shares during the period. Parkside Financial Bank & Trust increased its position in International Business Machines by 51.5% in the third quarter. Parkside Financial Bank & Trust now owns 4,540 shares of the technology company’s stock worth $637,000 after buying an additional 1,543 shares in the last quarter. Paragon Private Wealth Management LLC raised its stake in shares of International Business Machines by 14.1% in the third quarter. Paragon Private Wealth Management LLC now owns 4,604 shares of the technology company’s stock worth $646,000 after buying an additional 569 shares during the period. Finally, Operose Advisors LLC lifted its position in shares of International Business Machines by 39.7% during the 3rd quarter. Operose Advisors LLC now owns 6,709 shares of the technology company’s stock valued at $941,000 after buying an additional 1,905 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Trading Down 1.3 %

Shares of NYSE:IBM traded down $2.23 on Tuesday, hitting $172.78. 2,237,583 shares of the company’s stock were exchanged, compared to its average volume of 4,582,744. The business’s 50 day simple moving average is $170.79 and its two-hundred day simple moving average is $176.33. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09. The stock has a market capitalization of $158.72 billion, a price-to-earnings ratio of 19.63, a price-to-earnings-growth ratio of 4.25 and a beta of 0.72. International Business Machines Co. has a 12 month low of $129.31 and a 12 month high of $199.18.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.09. The company 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 period in the previous year, the company earned $1.36 EPS. Analysts anticipate that International Business Machines Co. will post 9.9 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were issued a dividend of $1.67 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a yield of 3.87%. The ex-dividend date of this dividend was Thursday, May 9th. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $190.00 target price on shares of International Business Machines in a report on Thursday, May 16th. Sanford C. Bernstein raised their price target on International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a report on Thursday, March 7th. BNP Paribas initiated coverage on shares of International Business Machines in a research report on Thursday, May 2nd. They set an “underperform” rating and a $145.00 target price for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of International Business Machines in a research note on Wednesday, May 22nd. Finally, BMO Capital Markets reduced their price target on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating on the stock in a research report on Thursday, April 25th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $182.53.

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.