SFE Investment Counsel Acquires 1,661 Shares of International Business Machines Co. (NYSE:IBM)

SFE Investment Counsel increased its stake in International Business Machines Co. (NYSE:IBM) by 4.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,430 shares of the technology company’s stock after acquiring an additional 1,661 shares during the quarter. International Business Machines accounts for approximately 1.5% of SFE Investment Counsel’s portfolio, making the stock its 21st largest position. SFE Investment Counsel’s holdings in International Business Machines were worth $6,646,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of IBM. Vanguard Group Inc. raised its holdings in shares of International Business Machines by 6.7% during the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after purchasing an additional 5,546,855 shares during the period. Norges Bank bought a new position in International Business Machines in the fourth quarter worth approximately $1,019,009,000. Dimensional Fund Advisors LP grew its stake in International Business Machines by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,500,184 shares of the technology company’s stock valued at $736,015,000 after acquiring an additional 97,482 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of International Business Machines by 151.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock valued at $671,352,000 after acquiring an additional 2,118,165 shares in the last quarter. Finally, LSV Asset Management increased its holdings in shares of International Business Machines by 4.8% during the first quarter. LSV Asset Management now owns 1,788,047 shares of the technology company’s stock valued at $341,445,000 after acquiring an additional 81,887 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on IBM. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Royal Bank of Canada upped their target price on shares of International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Stifel Nicolaus lifted their price target on International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Jefferies Financial Group increased their price objective on International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, International Business Machines has a consensus rating of “Hold” and a consensus target price of $185.93.

International Business Machines Trading Down 0.8 %

Shares of IBM opened at $200.87 on Friday. The firm has a market cap of $184.52 billion, a P/E ratio of 22.75, a price-to-earnings-growth ratio of 4.50 and a beta of 0.71. International Business Machines Co. has a fifty-two week low of $135.87 and a fifty-two week high of $205.95. 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 business has a 50-day moving average of $189.52 and a 200 day moving average of $182.51.

International Business Machines (NYSE:IBM) last announced its quarterly 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 net margin of 13.52% and a return on equity of 40.59%. The company had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the prior year, the company posted $2.18 EPS. International Business Machines’s revenue was up 1.9% compared to the same quarter last year. As a group, research analysts forecast that International Business Machines Co. will post 10.09 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend is Friday, August 9th. International Business Machines’s payout ratio is 75.65%.

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.