Norden Group LLC Grows Holdings in International Business Machines Co. (NYSE:IBM)

Norden Group LLC grew its stake in shares of International Business Machines Co. (NYSE:IBM) by 16.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,880 shares of the technology company’s stock after purchasing an additional 824 shares during the quarter. Norden Group LLC’s holdings in International Business Machines were worth $1,123,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Desjardins Global Asset Management Inc. lifted its holdings in shares of International Business Machines by 1.4% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 3,940 shares of the technology company’s stock worth $644,000 after acquiring an additional 54 shares during the period. Arden Trust Co boosted its holdings in shares of International Business Machines by 2.8% in the 1st quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock valued at $377,000 after purchasing an additional 54 shares during the last quarter. Calamos Wealth Management LLC grew its stake in shares of International Business Machines by 2.8% during the 4th quarter. Calamos Wealth Management LLC now owns 2,007 shares of the technology company’s stock valued at $328,000 after buying an additional 55 shares during the period. Avion Wealth raised its position in shares of International Business Machines by 6.2% in the 4th quarter. Avion Wealth now owns 964 shares of the technology company’s stock worth $158,000 after buying an additional 56 shares during the period. Finally, Chicago Partners Investment Group LLC boosted its holdings in International Business Machines by 0.8% in the fourth quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock valued at $1,309,000 after acquiring an additional 58 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

IBM has been the topic of a number of research reports. Jefferies Financial Group cut their price objective on International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a report on Tuesday, April 23rd. The Goldman Sachs Group assumed coverage on shares of International Business Machines in a research note on Monday, June 24th. They set a “buy” rating and a $200.00 price objective for the company. Sanford C. Bernstein upped their price target on shares of International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research report on Thursday, March 7th. Bank of America raised their price objective on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of International Business Machines in a research note on Wednesday, May 22nd. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $182.53.

International Business Machines Stock Up 0.1 %

NYSE IBM traded up $0.22 during trading hours on Friday, reaching $175.95. 1,481,754 shares of the company traded hands, compared to its average volume of 4,496,835. The company has a 50 day moving average of $169.68 and a two-hundred day moving average of $176.75. The stock has a market capitalization of $161.63 billion, a PE ratio of 19.77, a PEG ratio of 4.34 and a beta of 0.71. International Business Machines Co. has a 12 month low of $131.55 and a 12 month high of $199.18. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, topping analysts’ consensus estimates 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 last year, the firm earned $1.36 earnings per share. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, equities analysts expect that International Business Machines Co. will post 9.9 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently disclosed 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 3.80%. The ex-dividend date was Thursday, May 9th. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s payout ratio is currently 75.65%.

About International Business Machines

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.