Holderness Investments Co. Increases Position in International Business Machines Co. (NYSE:IBM)

Holderness Investments Co. grew its holdings in shares of International Business Machines Co. (NYSE:IBM) by 13.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 27,203 shares of the technology company’s stock after purchasing an additional 3,209 shares during the period. International Business Machines makes up approximately 1.1% of Holderness Investments Co.’s holdings, making the stock its 18th largest position. Holderness Investments Co.’s holdings in International Business Machines were worth $4,705,000 as of its most recent SEC filing.

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

International Business Machines Trading Up 1.8 %

Shares of International Business Machines stock opened at $217.70 on Friday. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The stock has a market capitalization of $199.98 billion, a PE ratio of 24.65, a P/E/G ratio of 4.67 and a beta of 0.70. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $218.84. The company’s fifty day simple moving average is $196.52 and its 200-day simple moving average is $184.33.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $15.62 billion. During the same quarter in the prior year, the business posted $2.18 earnings per share. The business’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, equities analysts anticipate that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages recently weighed in on IBM. Royal Bank of Canada raised their price target 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. Jefferies Financial Group boosted their price target on International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. The Goldman Sachs Group assumed coverage on International Business Machines in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 price objective for the company. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Finally, Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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.