Acadian Asset Management LLC Purchases 373,555 Shares of International Business Machines Co. (NYSE:IBM)

Acadian Asset Management LLC grew its holdings in shares of International Business Machines Co. (NYSE:IBM) by 75.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 871,924 shares of the technology company’s stock after buying an additional 373,555 shares during the period. Acadian Asset Management LLC owned 0.09% of International Business Machines worth $166,475,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FPC Investment Advisory Inc. bought a new position in shares of International Business Machines during the first quarter valued at $26,000. Naples Money Management LLC bought a new position in shares of International Business Machines in the fourth quarter worth approximately $28,000. Creekmur Asset Management LLC purchased a new stake in shares of International Business Machines during the fourth quarter valued at approximately $29,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of International Business Machines during the fourth quarter valued at approximately $31,000. Finally, Financial Synergies Wealth Advisors Inc. raised its holdings in International Business Machines by 164.0% in the 1st 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 last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Price Performance

NYSE IBM traded down $1.97 during trading hours on Friday, reaching $183.25. The company’s stock had a trading volume of 3,816,039 shares, compared to its average volume of 3,452,805. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. International Business Machines Co. has a 1 year low of $135.87 and a 1 year high of $199.18. The firm’s 50-day moving average price is $172.83 and its 200-day moving average price is $178.30. The company has a market capitalization of $168.33 billion, a price-to-earnings ratio of 20.75, a PEG ratio of 4.52 and a beta of 0.71.

International Business Machines (NYSE:IBM) last issued its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.36 earnings per share. On average, equities research analysts predict that International Business Machines Co. will post 9.89 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were given a $1.67 dividend. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date was Thursday, May 9th. International Business Machines’s payout ratio is currently 75.65%.

Analysts Set New Price Targets

A number of analysts have commented on IBM shares. UBS Group lifted 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. Stifel Nicolaus restated a “buy” rating and set a $190.00 target price on shares of International Business Machines in a research note on Thursday, May 16th. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Jefferies Financial Group dropped their target price on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a report on Tuesday, April 23rd. Finally, Wedbush increased their price target on International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, International Business Machines has an average rating of “Hold” and an average target price of $182.53.

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.