International Business Machines Co. (NYSE:IBM) Shares Purchased by Profund Advisors LLC

Profund Advisors LLC grew its position in shares of International Business Machines Co. (NYSE:IBM) by 4.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,699 shares of the technology company’s stock after purchasing an additional 1,065 shares during the period. Profund Advisors LLC’s holdings in International Business Machines were worth $3,926,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of IBM. Merriman Wealth Management LLC boosted its position in International Business Machines by 13.1% during the second quarter. Merriman Wealth Management LLC now owns 1,991 shares of the technology company’s stock worth $344,000 after acquiring an additional 231 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of International Business Machines by 7.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 156,361 shares of the technology company’s stock worth $27,043,000 after purchasing an additional 10,330 shares during the period. Legacy Financial Advisors Inc. boosted its holdings in shares of International Business Machines by 2.2% during the second quarter. Legacy Financial Advisors Inc. now owns 6,351 shares of the technology company’s stock worth $1,098,000 after purchasing an additional 135 shares during the last quarter. Ensign Peak Advisors Inc grew its position in shares of International Business Machines by 1.5% in the second quarter. Ensign Peak Advisors Inc now owns 475,544 shares of the technology company’s stock valued at $82,245,000 after purchasing an additional 6,830 shares during the period. Finally, Westwood Holdings Group Inc. increased its stake in International Business Machines by 17.9% in the second quarter. Westwood Holdings Group Inc. now owns 134,248 shares of the technology company’s stock valued at $23,218,000 after purchasing an additional 20,412 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Price Performance

IBM stock opened at $217.70 on Friday. The firm has a market cap of $199.98 billion, a P/E ratio of 24.65, a price-to-earnings-growth ratio of 4.67 and a beta of 0.70. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. International Business Machines Co. has a 1 year low of $135.87 and a 1 year high of $218.84. The stock has a 50-day simple moving average of $196.52 and a 200-day simple moving average of $184.33.

International Business Machines (NYSE:IBM) last issued 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. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company 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 company earned $2.18 earnings per share. International Business Machines’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities analysts predict that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued 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 dividend payout ratio is currently 75.65%.

Analyst Ratings Changes

IBM has been the subject of several recent analyst reports. Stifel Nicolaus lifted their price target on International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Jefferies Financial Group lifted their price target on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Finally, The Goldman Sachs Group initiated coverage on International Business Machines in a report on Monday, June 24th. They set a “buy” rating and a $200.00 price objective for the company. Three 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $188.60.

About International Business Machines

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.