Edge Capital Group LLC Buys 5,098 Shares of International Business Machines Co. (NYSE:IBM)

Edge Capital Group LLC increased its position in shares of International Business Machines Co. (NYSE:IBM) by 24.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,687 shares of the technology company’s stock after purchasing an additional 5,098 shares during the quarter. Edge Capital Group LLC’s holdings in International Business Machines were worth $4,443,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its stake in shares of International Business Machines by 6.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,555 shares of the technology company’s stock valued at $491,000 after purchasing an additional 150 shares in the last quarter. Fairscale Capital LLC bought a new stake in shares of International Business Machines during the second quarter worth $72,000. Frank Rimerman Advisors LLC increased its holdings in shares of International Business Machines by 5,244.8% during the second quarter. Frank Rimerman Advisors LLC now owns 22,074 shares of the technology company’s stock worth $3,818,000 after buying an additional 21,661 shares in the last quarter. Holderness Investments Co. lifted its stake in shares of International Business Machines by 13.4% in the 2nd quarter. Holderness Investments Co. now owns 27,203 shares of the technology company’s stock valued at $4,705,000 after acquiring an additional 3,209 shares during the last quarter. Finally, ProShare Advisors LLC boosted its stake in shares of International Business Machines by 1.0% during the second quarter. ProShare Advisors LLC now owns 1,288,227 shares of the technology company’s stock valued at $222,799,000 after purchasing an additional 12,937 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $217.70 on Friday. The stock’s fifty day simple moving average is $196.52 and its two-hundred day simple moving average is $184.33. The stock has a market cap of $199.98 billion, a PE ratio of 24.65, a price-to-earnings-growth ratio of 4.67 and a beta of 0.70. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $218.84.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data 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 business had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same quarter in the previous year, the firm earned $2.18 earnings per share. The business’s revenue was up 1.9% on a year-over-year basis. As a group, analysts forecast that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio is currently 75.65%.

Analyst Ratings Changes

IBM has been the subject of a number of research reports. BMO Capital Markets raised their price objective on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. UBS Group lifted their price target 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. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Finally, Evercore ISI boosted their price objective on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus 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.