International Business Machines Co. (NYSE:IBM) Position Lessened by Xponance Inc.

Xponance Inc. lowered its position in International Business Machines Co. (NYSE:IBM) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,385 shares of the technology company’s stock after selling 694 shares during the quarter. Xponance Inc.’s holdings in International Business Machines were worth $22,204,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its position 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. Price T Rowe Associates Inc. MD boosted its holdings in International Business Machines by 151.6% in the first 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. Thrivent Financial for Lutherans increased its position in International Business Machines by 306.3% during the second quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock worth $242,441,000 after buying an additional 1,056,759 shares during the last quarter. Strategic Financial Concepts LLC raised its holdings in International Business Machines by 12,282.2% during the second quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock valued at $817,000 after buying an additional 468,567 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in shares of International Business Machines by 79.4% in the first quarter. National Bank of Canada FI now owns 922,496 shares of the technology company’s stock worth $176,160,000 after buying an additional 408,230 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Up 1.8 %

Shares of IBM opened at $217.70 on Monday. The business’s 50 day simple moving average is $196.52 and its 200-day simple moving average is $184.24. International Business Machines Co. has a one year low of $135.87 and a one year high of $218.84. The company has a market capitalization of $199.98 billion, a P/E ratio of 24.65, a PEG ratio of 4.67 and a beta of 0.70. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping the consensus estimate of $2.16 by $0.27. The company had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.18 earnings per share. As a group, sell-side analysts predict 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. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.07%. International Business Machines’s payout ratio is 75.65%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. UBS Group upped their target price on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. The Goldman Sachs Group assumed coverage on shares of International Business Machines in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 target price on the stock. 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. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Finally, Evercore ISI boosted their price objective on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Three 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. According to MarketBeat, International Business Machines presently 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.