Levin Capital Strategies L.P. Boosts Stake in International Business Machines Co. (NYSE:IBM)

Levin Capital Strategies L.P. grew its holdings in shares of International Business Machines Co. (NYSE:IBM) by 10.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 116,071 shares of the technology company’s stock after buying an additional 11,190 shares during the quarter. International Business Machines accounts for about 2.1% of Levin Capital Strategies L.P.’s investment portfolio, making the stock its 16th biggest position. Levin Capital Strategies L.P.’s holdings in International Business Machines were worth $20,074,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of International Business Machines during the fourth quarter worth approximately $1,019,009,000. Vanguard Group Inc. grew its stake in International Business Machines by 6.7% in the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after purchasing an additional 5,546,855 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in International Business Machines by 151.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after purchasing an additional 2,118,165 shares during the period. Capital Wealth Planning LLC bought a new stake in International Business Machines during the 4th quarter valued at $172,887,000. Finally, Strategic Financial Concepts LLC lifted its holdings in shares of International Business Machines by 12,282.2% in the 2nd quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock worth $817,000 after buying an additional 468,567 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IBM has been the subject of several recent research reports. The Goldman Sachs Group assumed coverage on International Business Machines in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 price objective for the company. Royal Bank of Canada upped their price target 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. BMO Capital Markets boosted their price objective 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. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Finally, UBS Group boosted their price target on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average price target of $185.93.

International Business Machines Stock Up 1.4 %

IBM stock opened at $203.53 on Tuesday. The firm’s fifty day moving average is $190.09 and its 200 day moving average is $182.66. 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 one year low of $135.87 and a one year high of $205.95. The firm has a market cap of $187.48 billion, a PE ratio of 23.05, a P/E/G ratio of 4.47 and a beta of 0.70.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data 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 company had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the prior year, the business posted $2.18 earnings per share. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, research analysts forecast that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 3.28%. The ex-dividend date is Friday, August 9th. International Business Machines’s payout ratio is 75.65%.

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.