Wedmont Private Capital Boosts Stock Position in International Business Machines Co. (NYSE:IBM)

Wedmont Private Capital raised its stake in International Business Machines Co. (NYSE:IBM) by 6.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,354 shares of the technology company’s stock after purchasing an additional 647 shares during the quarter. Wedmont Private Capital’s holdings in International Business Machines were worth $2,352,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of IBM. Vanguard Group Inc. raised its position in International Business Machines by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after buying an additional 5,546,855 shares during the last quarter. Legal & General Group Plc lifted its position in International Business Machines by 4.1% in the second quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock valued at $1,467,974,000 after purchasing an additional 330,694 shares during the period. Ameriprise Financial Inc. boosted its holdings in International Business Machines by 6.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after purchasing an additional 444,698 shares in the last quarter. Dimensional Fund Advisors LP increased its position in International Business Machines by 6.8% during 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 during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of 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 worth $671,352,000 after buying an additional 2,118,165 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 2.5 %

IBM stock opened at $234.30 on Thursday. The company has a 50 day moving average price of $205.08 and a two-hundred day moving average price of $186.69. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The stock has a market capitalization of $215.23 billion, a P/E ratio of 26.53, a PEG ratio of 4.90 and a beta of 0.70. International Business Machines Co. has a one year low of $135.87 and a one year high of $234.95.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $15.77 billion during 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 business’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, sell-side analysts expect that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a $1.67 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a yield of 2.85%. International Business Machines’s payout ratio is 75.65%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on IBM shares. BMO Capital Markets raised their target price on International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. 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 research report on Thursday, July 25th. Stifel Nicolaus raised their price objective on International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Finally, DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a research report on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $196.12.

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.