GAMMA Investing LLC Has $1.26 Million Stock Position in International Business Machines Co. (NYSE:IBM)

GAMMA Investing LLC grew its stake in shares of International Business Machines Co. (NYSE:IBM) by 13.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,582 shares of the technology company’s stock after purchasing an additional 799 shares during the quarter. GAMMA Investing LLC’s holdings in International Business Machines were worth $1,257,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in IBM. Norges Bank acquired a new position in shares of International Business Machines during the 4th quarter worth approximately $1,019,009,000. International Assets Investment Management LLC increased its position in shares of International Business Machines by 15,439.1% during the 4th quarter. International Assets Investment Management LLC now owns 2,653,462 shares of the technology company’s stock worth $433,974,000 after purchasing an additional 2,636,386 shares during the last quarter. Morgan Stanley increased its position in shares of International Business Machines by 13.4% during the 3rd quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock worth $2,280,968,000 after purchasing an additional 1,919,490 shares during the last quarter. Capital Wealth Planning LLC acquired a new position in shares of International Business Machines during the 4th quarter worth approximately $172,887,000. Finally, Northern Trust Corp increased its holdings in shares of International Business Machines by 4.2% during the 3rd quarter. Northern Trust Corp now owns 9,970,674 shares of the technology company’s stock worth $1,398,886,000 after acquiring an additional 404,948 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of IBM stock traded up $1.05 on Wednesday, hitting $170.55. 3,386,442 shares of the company’s stock were exchanged, compared to its average volume of 3,242,117. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09. International Business Machines Co. has a 12 month low of $129.18 and a 12 month high of $199.18. The stock has a market cap of $156.67 billion, a P/E ratio of 19.31, a price-to-earnings-growth ratio of 4.18 and a beta of 0.72. The company has a 50 day moving average of $171.65 and a 200 day moving average of $175.99.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. During the same period in the prior year, the company earned $1.36 EPS. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, equities research analysts predict that International Business Machines Co. will post 9.9 EPS for the current year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date was Thursday, May 9th. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio is presently 75.65%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on IBM. UBS Group boosted their target price on International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a report on Monday, April 22nd. Morgan Stanley decreased their target price on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Bank of America boosted their target price on International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 target price on shares of International Business Machines in a report on Wednesday, May 22nd. Finally, Sanford C. Bernstein boosted their price target on International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a research note on Thursday, March 7th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, International Business Machines presently has an average rating of “Hold” and a consensus price target of $181.29.

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.