Kayne Anderson Rudnick Investment Management LLC Has $27.04 Million Position in International Business Machines Co. (NYSE:IBM)

Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of International Business Machines Co. (NYSE:IBM) by 7.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 156,361 shares of the technology company’s stock after purchasing an additional 10,330 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in International Business Machines were worth $27,043,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. FPC Investment Advisory Inc. acquired a new position in shares of International Business Machines in the first quarter valued at approximately $26,000. ESL Trust Services LLC acquired a new position in shares of International Business Machines in the first quarter valued at approximately $28,000. Creekmur Asset Management LLC acquired a new position in shares of International Business Machines in the fourth quarter valued at approximately $29,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of International Business Machines in the fourth quarter valued at approximately $31,000. Finally, Financial Synergies Wealth Advisors Inc. boosted its holdings in shares of International Business Machines by 164.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after buying an additional 123 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

IBM has been the subject of several research analyst reports. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Jefferies Financial Group upped 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. Royal Bank of Canada increased their target price on shares of International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. 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. Finally, StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Three equities 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 company. According to MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average target price of $188.60.

International Business Machines Stock Performance

NYSE 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’s fifty day moving average price is $196.52 and its two-hundred day moving average price is $184.33. International Business Machines Co. has a 1 year low of $135.87 and a 1 year high of $218.84. The firm has a market capitalization 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.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same period in the prior year, the firm posted $2.18 earnings per share. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, research analysts anticipate that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Announces Dividend

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

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.