Gradient Investments LLC Grows Position in International Business Machines Co. (NYSE:IBM)

Gradient Investments LLC lifted its position in International Business Machines Co. (NYSE:IBM) by 51.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,545 shares of the technology company’s stock after purchasing an additional 867 shares during the period. Gradient Investments LLC’s holdings in International Business Machines were worth $440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. purchased a new position in International Business Machines during the first quarter worth approximately $26,000. Naples Money Management LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at about $28,000. ESL Trust Services LLC purchased a new stake in shares of International Business Machines during the first quarter worth about $28,000. Creekmur Asset Management LLC acquired a new position in shares of International Business Machines during the 4th quarter worth about $29,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new stake in International Business Machines in the 4th quarter worth about $31,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Down 0.1 %

Shares of IBM traded down $0.17 during mid-day trading on Friday, hitting $193.78. 2,494,472 shares of the company’s stock were exchanged, compared to its average volume of 4,344,165. The company has a market cap of $178.01 billion, a price-to-earnings ratio of 21.93, a P/E/G ratio of 4.24 and a beta of 0.71. The stock’s 50-day moving average is $181.13 and its 200-day moving average is $181.08. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. International Business Machines Co. has a fifty-two week low of $135.87 and a fifty-two week high of $199.18.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. The business had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.18 EPS. On average, sell-side analysts anticipate that International Business Machines Co. will post 10.06 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed 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 is Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 3.45%. International Business Machines’s dividend payout ratio is presently 75.65%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IBM. UBS Group raised their target price on International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a research report on Monday, April 22nd. BMO Capital Markets lifted their target price on shares of International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. The Goldman Sachs Group began coverage on shares of International Business Machines in a research note on Monday, June 24th. They issued a “buy” rating and a $200.00 price target on the stock. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Finally, Stifel Nicolaus boosted their target price on International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a 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’s stock. Based on data from MarketBeat, International Business Machines presently has an average rating of “Hold” and an average price target of $184.93.

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.