Ables Iannone Moore & Associates Inc. Takes Position in International Business Machines Co. (NYSE:IBM)

Ables Iannone Moore & Associates Inc. acquired a new stake in International Business Machines Co. (NYSE:IBM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 191 shares of the technology company’s stock, valued at approximately $31,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in International Business Machines during the 4th quarter worth approximately $1,019,009,000. International Assets Investment Management LLC lifted its position in International Business Machines by 15,439.1% in the 4th quarter. International Assets Investment Management LLC now owns 2,653,462 shares of the technology company’s stock valued at $433,974,000 after purchasing an additional 2,636,386 shares during the last quarter. Morgan Stanley lifted its position in International Business Machines by 13.4% in the 3rd quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock valued at $2,280,968,000 after purchasing an additional 1,919,490 shares during the last quarter. Capital Wealth Planning LLC acquired a new position in International Business Machines during the 4th quarter valued at about $172,887,000. Finally, Northern Trust Corp increased its stake in International Business Machines by 4.2% during the 3rd quarter. Northern Trust Corp now owns 9,970,674 shares of the technology company’s stock valued at $1,398,886,000 after buying an additional 404,948 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IBM has been the topic of several recent research reports. Wedbush lifted their price target 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. BNP Paribas initiated coverage on shares of International Business Machines in a research note on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 price objective for the company. JPMorgan Chase & Co. cut their target price on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Sanford C. Bernstein boosted their target price on shares of International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research report on Thursday, March 7th. Finally, BMO Capital Markets dropped their price objective on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating on the stock in a report on Thursday, April 25th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $181.29.

International Business Machines Trading Up 0.2 %

Shares of NYSE IBM opened at $169.50 on Tuesday. The company’s 50 day simple moving average is $172.03 and its 200 day simple moving average is $175.91. International Business Machines Co. has a fifty-two week low of $129.18 and a fifty-two week high of $199.18. The firm has a market capitalization of $155.70 billion, a P/E ratio of 19.20, a P/E/G ratio of 4.17 and a beta of 0.72. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09.

International Business Machines (NYSE:IBM) last issued its earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. During the same quarter in the prior year, the firm earned $1.36 earnings per share. The business’s quarterly revenue was up 1.5% on a year-over-year basis. On average, analysts predict that International Business Machines Co. will post 9.9 EPS for the current year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were given a dividend of $1.67 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.94%. International Business Machines’s dividend payout ratio is currently 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.