Foster Group Inc. Boosts Stock Position in International Business Machines Co. (NYSE:IBM)

Foster Group Inc. grew its stake in International Business Machines Co. (NYSE:IBM) by 6.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,863 shares of the technology company’s stock after purchasing an additional 112 shares during the period. Foster Group Inc.’s holdings in International Business Machines were worth $356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in IBM. Desjardins Global Asset Management Inc. boosted its stake in shares of International Business Machines by 1.4% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 3,940 shares of the technology company’s stock worth $644,000 after buying an additional 54 shares during the period. Arden Trust Co lifted its position in International Business Machines by 2.8% in the first quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock valued at $377,000 after purchasing an additional 54 shares during the period. Calamos Wealth Management LLC lifted its position in International Business Machines by 2.8% in the fourth quarter. Calamos Wealth Management LLC now owns 2,007 shares of the technology company’s stock valued at $328,000 after purchasing an additional 55 shares during the period. Avion Wealth lifted its position in International Business Machines by 6.2% in the fourth quarter. Avion Wealth now owns 964 shares of the technology company’s stock valued at $158,000 after purchasing an additional 56 shares during the period. Finally, Chicago Partners Investment Group LLC lifted its position in International Business Machines by 0.8% in the fourth quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock valued at $1,309,000 after purchasing an additional 58 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IBM has been the subject of a number of recent analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of International Business Machines in a research report on Wednesday, May 22nd. Bank of America raised their price objective on shares of International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Stifel Nicolaus restated a “buy” rating and issued a $190.00 price objective on shares of International Business Machines in a research report on Thursday, May 16th. Sanford C. Bernstein raised their price objective on shares of International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a research report on Thursday, March 7th. Finally, JPMorgan Chase & Co. reduced their price target 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. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $181.29.

International Business Machines Stock Up 2.0 %

IBM stock opened at $173.97 on Friday. The stock has a market capitalization of $159.81 billion, a P/E ratio of 19.70, a PEG ratio of 4.21 and a beta of 0.72. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13. International Business Machines Co. has a one year low of $129.18 and a one year high of $199.18. The company has a 50 day moving average price of $171.11 and a two-hundred day moving average price of $175.93.

International Business Machines (NYSE:IBM) last released its earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.59 by $0.09. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.36 EPS. As a group, sell-side analysts expect 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 paid a dividend of $1.67 per share. The ex-dividend date of this dividend was Thursday, May 9th. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a dividend yield of 3.84%. International Business Machines’s payout ratio is currently 75.65%.

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.