Canada Pension Plan Investment Board Grows Stock Holdings in International Business Machines Co. (NYSE:IBM)

Canada Pension Plan Investment Board lifted its position in shares of International Business Machines Co. (NYSE:IBM) by 4,917.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 281,501 shares of the technology company’s stock after purchasing an additional 275,891 shares during the period. Canada Pension Plan Investment Board’s holdings in International Business Machines were worth $53,755,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IBM. Blackston Financial Advisory Group LLC acquired a new stake in International Business Machines during the 4th quarter worth $403,000. Schechter Investment Advisors LLC raised its stake in International Business Machines by 2.8% during the 4th quarter. Schechter Investment Advisors LLC now owns 5,573 shares of the technology company’s stock worth $911,000 after acquiring an additional 150 shares in the last quarter. Procyon Advisors LLC raised its stake in International Business Machines by 32.1% during the 4th quarter. Procyon Advisors LLC now owns 4,871 shares of the technology company’s stock worth $797,000 after acquiring an additional 1,185 shares in the last quarter. Trueblood Wealth Management LLC acquired a new stake in International Business Machines during the 4th quarter worth $227,000. Finally, Ritholtz Wealth Management raised its stake in International Business Machines by 2.5% during the 4th quarter. Ritholtz Wealth Management now owns 9,709 shares of the technology company’s stock worth $1,588,000 after acquiring an additional 233 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Down 0.1 %

Shares of NYSE IBM opened at $191.75 on Friday. International Business Machines Co. has a 12-month low of $135.87 and a 12-month high of $199.18. The company has a market capitalization of $176.14 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 4.69 and a beta of 0.71. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.09. The firm’s 50-day moving average is $174.75 and its two-hundred day moving average is $179.25.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $15.62 billion. During the same quarter in the prior year, the firm earned $2.18 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities analysts anticipate that International Business Machines Co. will post 10.06 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend was Thursday, May 9th. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s payout ratio is currently 75.65%.

Wall Street Analyst Weigh In

A number of research analysts have commented on IBM shares. JPMorgan Chase & Co. dropped their price objective on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Wedbush lifted their target price on shares of International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. UBS Group lifted their target price on shares of International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a report on Monday, April 22nd. Finally, The Goldman Sachs Group assumed coverage on shares of International Business Machines in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $184.93.

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.