Bridges Investment Management Inc. Increases Position in International Business Machines Co. (NYSE:IBM)

Bridges Investment Management Inc. lifted its holdings in International Business Machines Co. (NYSE:IBM) by 46.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,438 shares of the technology company’s stock after buying an additional 3,936 shares during the quarter. Bridges Investment Management Inc.’s holdings in International Business Machines were worth $2,151,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. FPC Investment Advisory Inc. bought a new stake in shares of International Business Machines during the first quarter worth $26,000. ESL Trust Services LLC purchased a new stake in International Business Machines in the 1st quarter valued at about $28,000. Creekmur Asset Management LLC bought a new position in International Business Machines in the 4th quarter worth about $29,000. Ables Iannone Moore & Associates Inc. purchased a new position in shares of International Business Machines during the fourth quarter worth approximately $31,000. Finally, Financial Synergies Wealth Advisors Inc. raised its stake in shares of International Business Machines by 164.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after acquiring an additional 123 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Up 1.7 %

Shares of IBM stock opened at $217.63 on Friday. The stock’s fifty day moving average price is $196.52 and its 200 day moving average price is $184.38. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $218.84. The company has a market cap of $199.92 billion, a price-to-earnings ratio of 24.65, a price-to-earnings-growth ratio of 4.67 and a beta of 0.70.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.27. The firm had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.18 earnings per share. On average, research analysts expect that International Business Machines Co. will post 10.1 earnings per share 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. Stockholders of record on Friday, August 9th were paid a dividend of $1.67 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.07%. International Business Machines’s payout ratio is currently 75.65%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. UBS Group increased their target price on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. Evercore ISI boosted their price target on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Stifel Nicolaus increased their price objective on shares of International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Royal Bank of Canada boosted their price objective on shares of International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.