Peddock Capital Advisors LLC Acquires 58 Shares of International Business Machines Co. (NYSE:IBM)

Peddock Capital Advisors LLC boosted its holdings in International Business Machines Co. (NYSE:IBM) by 0.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,040 shares of the technology company’s stock after acquiring an additional 58 shares during the quarter. Peddock Capital Advisors LLC’s holdings in International Business Machines were worth $1,736,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. acquired a new position in International Business Machines in the first quarter valued at about $26,000. Naples Money Management LLC acquired a new position in shares of International Business Machines during the fourth quarter worth approximately $28,000. ESL Trust Services LLC acquired a new position in shares of International Business Machines during the first quarter worth approximately $28,000. Creekmur Asset Management LLC acquired a new position in shares of International Business Machines during the fourth quarter worth approximately $29,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in shares of International Business Machines during the fourth quarter worth approximately $31,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Trading Down 0.1 %

NYSE:IBM traded down $0.17 during trading hours on Friday, hitting $193.78. The stock had a trading volume of 2,494,472 shares, compared to its average volume of 4,344,165. International Business Machines Co. has a one year low of $135.87 and a one year high of $199.18. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The company has a market cap of $178.01 billion, a price-to-earnings ratio of 21.95, a P/E/G ratio of 4.24 and a beta of 0.71. The business’s 50 day moving average is $181.13 and its 200-day moving average is $181.03.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping 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 during 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 firm’s revenue was up 1.9% compared to the same quarter last year. Sell-side analysts anticipate that International Business Machines Co. will post 10.06 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend is Friday, August 9th. International Business Machines’s dividend payout ratio is 75.65%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Wedbush upped their target price on shares of International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Morgan Stanley reduced their target price on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Finally, Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus 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.