International Business Machines Co. (NYSE:IBM) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC grew its holdings in International Business Machines Co. (NYSE:IBM) by 42.4% during the second quarter, HoldingsChannel reports. The fund owned 9,370 shares of the technology company’s stock after purchasing an additional 2,788 shares during the period. GAMMA Investing LLC’s holdings in International Business Machines were worth $1,621,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in IBM. FPC Investment Advisory Inc. purchased a new stake in shares of International Business Machines during the 1st quarter worth approximately $26,000. Naples Money Management LLC purchased a new stake in shares of International Business Machines during the 4th quarter worth approximately $28,000. ESL Trust Services LLC purchased a new stake in shares of International Business Machines during the 1st quarter worth approximately $28,000. Creekmur Asset Management LLC purchased a new stake in shares of International Business Machines during the 4th quarter worth approximately $29,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new stake in shares of International Business Machines during the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on IBM. The Goldman Sachs Group began coverage on shares of International Business Machines in a research report on Monday, June 24th. They issued a “buy” rating and a $200.00 price target for the company. Stifel Nicolaus upped their price target on shares of International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. BMO Capital Markets upped their price target on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Morgan Stanley reduced their price target on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Finally, Royal Bank of Canada upped their price target on shares of International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $184.93.

International Business Machines Price Performance

Shares of NYSE:IBM traded down $0.54 on Friday, reaching $189.12. 4,548,824 shares of the company were exchanged, compared to its average volume of 3,874,536. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $199.18. The firm has a market cap of $174.21 billion, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 4.24 and a beta of 0.71. The company has a 50-day moving average of $176.64 and a 200-day moving average of $180.27.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results 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 business had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the prior year, the company posted $2.18 EPS. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities analysts forecast that International Business Machines Co. will post 10.06 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be paid a dividend of $1.67 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.53%. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

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.