Mirae Asset Global Investments Co. Ltd. Buys 6,345 Shares of International Business Machines Co. (NYSE:IBM)

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of International Business Machines Co. (NYSE:IBM) by 7.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,061 shares of the technology company’s stock after buying an additional 6,345 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in International Business Machines were worth $20,331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. FPC Investment Advisory Inc. bought a new stake in International Business Machines in the first quarter worth $26,000. ESL Trust Services LLC purchased a new position in International Business Machines during the first quarter worth $28,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of International Business Machines during the second quarter valued at $36,000. Wolff Wiese Magana LLC boosted its stake in shares of International Business Machines by 37.0% during the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after purchasing an additional 60 shares during the period. Finally, Briaud Financial Planning Inc boosted its stake in shares of International Business Machines by 54.3% during the second quarter. Briaud Financial Planning Inc now owns 284 shares of the technology company’s stock valued at $49,000 after purchasing an additional 100 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $214.67 on Friday. International Business Machines Co. has a twelve month low of $141.58 and a twelve month high of $237.37. The company’s 50 day moving average is $215.58 and its 200 day moving average is $190.43. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The company has a market cap of $197.74 billion, a PE ratio of 23.67, a price-to-earnings-growth ratio of 4.84 and a beta of 0.70.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter in the prior year, the company earned $2.20 EPS. International Business Machines’s quarterly revenue was up 1.5% on a year-over-year basis. On average, sell-side analysts forecast that International Business Machines Co. will post 10.13 EPS for the current 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 given a $1.67 dividend. The ex-dividend date 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 73.65%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on IBM. DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a research note on Wednesday, October 2nd. Bernstein Bank boosted their target price on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Jefferies Financial Group boosted their target price on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Stifel Nicolaus boosted their target price on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Morgan Stanley reduced their target price on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a report on Thursday. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average target price of $208.12.

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.