International Business Machines Co. (NYSE:IBM) Shares Bought by Garner Asset Management Corp

Garner Asset Management Corp lifted its position in shares of International Business Machines Co. (NYSE:IBM) by 5.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,970 shares of the technology company’s stock after acquiring an additional 673 shares during the quarter. International Business Machines accounts for about 1.1% of Garner Asset Management Corp’s holdings, making the stock its 25th biggest position. Garner Asset Management Corp’s holdings in International Business Machines were worth $2,243,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Altrius Capital Management Inc grew its position in shares of International Business Machines by 3.1% in the second quarter. Altrius Capital Management Inc now owns 26,884 shares of the technology company’s stock valued at $4,650,000 after purchasing an additional 812 shares during the last quarter. Marathon Trading Investment Management LLC purchased a new stake in International Business Machines during the 2nd quarter worth $398,000. Seven Eight Capital LP purchased a new stake in shares of International Business Machines during the 2nd quarter valued at about $1,305,000. SkyOak Wealth LLC grew its stake in shares of International Business Machines by 4.0% during the second quarter. SkyOak Wealth LLC now owns 14,479 shares of the technology company’s stock valued at $2,504,000 after acquiring an additional 552 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co raised its position in shares of International Business Machines by 0.8% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 84,118 shares of the technology company’s stock valued at $14,548,000 after purchasing an additional 685 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on IBM. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. UBS Group raised their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. Evercore ISI raised 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. Stifel Nicolaus upped their price target on International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, The Goldman Sachs Group started 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 on the stock. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $188.60.

International Business Machines Trading Up 0.3 %

Shares of IBM opened at $214.86 on Thursday. The firm has a market capitalization of $197.37 billion, a PE ratio of 24.33, a price-to-earnings-growth ratio of 4.67 and a beta of 0.70. International Business Machines Co. has a 12-month low of $135.87 and a 12-month high of $218.84. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The stock’s fifty day simple moving average is $195.11 and its 200-day simple moving average is $184.00.

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 return on equity of 40.59% and a net margin of 13.52%. The business had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same period last year, the company earned $2.18 EPS. The firm’s revenue was up 1.9% on a year-over-year basis. As a group, research analysts predict that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently declared 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 3.11%. International Business Machines’s dividend payout ratio is 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.