13,197 Shares in International Business Machines Co. (NYSE:IBM) Purchased by Lee Danner & Bass Inc.

Lee Danner & Bass Inc. purchased a new position in shares of International Business Machines Co. (NYSE:IBM) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,197 shares of the technology company’s stock, valued at approximately $2,282,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FPC Investment Advisory Inc. bought a new stake in International Business Machines in the first quarter worth about $26,000. ESL Trust Services LLC bought a new stake in International Business Machines in the first quarter worth about $28,000. Creekmur Asset Management LLC bought a new stake in International Business Machines in the fourth quarter worth about $29,000. Ables Iannone Moore & Associates Inc. bought a new stake in International Business Machines in the fourth quarter worth about $31,000. Finally, Financial Synergies Wealth Advisors Inc. raised its position in International Business Machines by 164.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after acquiring an additional 123 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Price Performance

International Business Machines stock traded up $3.17 during midday trading on Friday, reaching $202.07. 4,750,676 shares of the stock were exchanged, compared to its average volume of 4,243,869. The company’s fifty day moving average is $185.98 and its 200-day moving average is $181.83. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The firm has a market cap of $185.62 billion, a PE ratio of 22.89, a PEG ratio of 4.24 and a beta of 0.71. 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 posted its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same quarter in the prior year, the firm posted $2.18 EPS. International Business Machines’s revenue was up 1.9% on a year-over-year basis. On average, sell-side analysts forecast that International Business Machines Co. will post 10.06 EPS for the current year.

International Business Machines Announces Dividend

The business also recently declared 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 of this dividend is Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a yield of 3.31%. International Business Machines’s dividend payout ratio is presently 75.65%.

Wall Street Analyst Weigh In

Several analysts have commented on IBM shares. BNP Paribas started coverage on shares of International Business Machines in a research report on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 price objective on the stock. Royal Bank of Canada lifted their price objective on shares of International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. The Goldman Sachs Group started coverage on shares of International Business Machines in a research report on Monday, June 24th. They issued a “buy” rating and a $200.00 price target on the stock. Finally, Jefferies Financial Group boosted their price target on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research 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. According to MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and a consensus target price of $184.93.

International Business Machines Company 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.