Ensign Peak Advisors Inc Boosts Position in International Business Machines Co. (NYSE:IBM)

Ensign Peak Advisors Inc grew its holdings in International Business Machines Co. (NYSE:IBM) by 1.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 475,544 shares of the technology company’s stock after acquiring an additional 6,830 shares during the period. Ensign Peak Advisors Inc owned about 0.05% of International Business Machines worth $82,245,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in IBM. Vanguard Group Inc. grew its position in International Business Machines by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after purchasing an additional 5,546,855 shares during the period. Dimensional Fund Advisors LP lifted its holdings in International Business Machines by 6.8% in the second quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock valued at $829,431,000 after acquiring an additional 304,390 shares during the period. Price T Rowe Associates Inc. MD boosted its position in International Business Machines by 151.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after purchasing an additional 2,118,165 shares in the last quarter. LSV Asset Management grew its stake in shares of International Business Machines by 4.8% during the 1st quarter. LSV Asset Management now owns 1,788,047 shares of the technology company’s stock worth $341,445,000 after purchasing an additional 81,887 shares during the period. Finally, Capital Wealth Planning LLC increased its holdings in shares of International Business Machines by 8.8% during the 2nd quarter. Capital Wealth Planning LLC now owns 1,578,660 shares of the technology company’s stock valued at $273,029,000 after purchasing an additional 127,892 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Up 1.8 %

Shares of IBM opened at $217.70 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The firm has a 50-day moving average price of $196.52 and a 200 day moving average price of $184.33. International Business Machines Co. has a 12-month low of $135.87 and a 12-month high of $218.84. The firm has a market capitalization of $199.98 billion, a P/E ratio of 24.65, a P/E/G ratio of 4.67 and a beta of 0.70.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter last year, the firm earned $2.18 EPS. The business’s revenue was up 1.9% compared to the same quarter last year. Sell-side analysts forecast that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on IBM. Royal Bank of Canada raised their target price on International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. The Goldman Sachs Group began coverage on shares of International Business Machines in a research note on Monday, June 24th. They issued a “buy” rating and a $200.00 price target on the stock. Jefferies Financial Group upped their price objective on shares of International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Evercore ISI increased their target price on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Finally, StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Three equities 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. According to data from MarketBeat.com, the stock presently has a consensus 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.