Seven Eight Capital LP Takes Position in International Business Machines Co. (NYSE:IBM)

Seven Eight Capital LP bought a new stake in International Business Machines Co. (NYSE:IBM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 7,548 shares of the technology company’s stock, valued at approximately $1,305,000.

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

International Business Machines Trading Down 0.5 %

Shares of International Business Machines stock opened at $213.89 on Friday. International Business Machines Co. has a fifty-two week low of $135.87 and a fifty-two week high of $218.84. The business’s fifty day moving average is $195.83 and its two-hundred day moving average is $184.21. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The firm has a market cap of $196.48 billion, a PE ratio of 24.22, a P/E/G ratio of 4.67 and a beta of 0.70.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. During the same period in the prior year, the business posted $2.18 earnings per share. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. Analysts anticipate that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.12%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of analyst reports. Royal Bank of Canada lifted their price objective on shares of International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. UBS Group boosted their price target on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. BMO Capital Markets raised their price objective on International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Finally, Evercore ISI boosted their target price on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $188.60.

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.