Evergreen Capital Management LLC Increases Stake in International Business Machines Co. (NYSE:IBM)

Evergreen Capital Management LLC increased its position in shares of International Business Machines Co. (NYSE:IBM) by 16.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,687 shares of the technology company’s stock after purchasing an additional 1,768 shares during the period. Evergreen Capital Management LLC’s holdings in International Business Machines were worth $2,194,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. bought a new position in shares of International Business Machines during the first quarter valued at approximately $26,000. ESL Trust Services LLC purchased a new stake in International Business Machines in the first quarter worth $28,000. Creekmur Asset Management LLC bought a new stake in shares of International Business Machines during the fourth quarter worth $29,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of International Business Machines during the fourth quarter worth $31,000. Finally, Financial Synergies Wealth Advisors Inc. grew 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 worth $38,000 after purchasing an additional 123 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on IBM. The Goldman Sachs Group initiated coverage on shares of International Business Machines in a report on Monday, June 24th. They set a “buy” rating and a $200.00 price objective for the company. UBS Group boosted their price target on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. BMO Capital Markets raised their price objective on International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Royal Bank of Canada upped their target price on International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Jefferies Financial Group lifted their price objective on International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $188.60.

International Business Machines Price Performance

NYSE IBM opened at $220.44 on Tuesday. International Business Machines Co. has a 12-month low of $135.87 and a 12-month high of $220.62. The firm’s fifty day simple moving average is $197.27 and its two-hundred day simple moving average is $184.41. 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 market capitalization of $202.50 billion, a P/E ratio of 24.96, a P/E/G ratio of 4.67 and a beta of 0.70.

International Business Machines (NYSE:IBM) last announced its earnings results 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. The company had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.18 EPS. Analysts forecast 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. 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 3.03%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio is presently 75.65%.

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.