International Business Machines Co. (NYSE:IBM) Shares Purchased by PFG Advisors

PFG Advisors raised its stake in International Business Machines Co. (NYSE:IBM) by 10.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,218 shares of the technology company’s stock after buying an additional 589 shares during the quarter. PFG Advisors’ holdings in International Business Machines were worth $1,075,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Mosley Wealth Management acquired a new stake in International Business Machines in the 4th quarter valued at approximately $312,000. Hodges Capital Management Inc. raised its holdings in shares of International Business Machines by 60.8% in the 1st quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock valued at $3,921,000 after buying an additional 7,768 shares during the period. Burns J W & Co. Inc. NY lifted its stake in International Business Machines by 10.8% during the 1st quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock worth $491,000 after acquiring an additional 250 shares in the last quarter. 1832 Asset Management L.P. purchased a new position in International Business Machines during the 4th quarter valued at about $3,017,000. Finally, Westwood Holdings Group Inc. grew its position in International Business Machines by 19.9% in the 4th quarter. Westwood Holdings Group Inc. now owns 115,321 shares of the technology company’s stock valued at $18,861,000 after acquiring an additional 19,175 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE IBM opened at $214.79 on Friday. The stock’s 50-day simple moving average is $192.83 and its 200-day simple moving average is $183.40. 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 firm has a market capitalization of $197.85 billion, a PE ratio of 24.33, a price-to-earnings-growth ratio of 4.67 and a beta of 0.70. International Business Machines Co. has a fifty-two week low of $135.87 and a fifty-two week high of $216.09.

International Business Machines (NYSE:IBM) last released its quarterly earnings data 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 company had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same quarter last year, the company earned $2.18 earnings per share. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, equities research analysts forecast that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a $1.67 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 3.11%. International Business Machines’s dividend payout ratio is presently 75.65%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on IBM. Jefferies Financial Group increased their price target on shares of International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. BMO Capital Markets raised 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. Stifel Nicolaus upped their price objective on International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Royal Bank of Canada increased their price objective on International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $188.60.

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.