Intech Investment Management LLC Raises Stock Position in International Business Machines Co. (NYSE:IBM)

Intech Investment Management LLC grew its position in International Business Machines Co. (NYSE:IBM) by 66.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 318,035 shares of the technology company’s stock after buying an additional 127,147 shares during the period. International Business Machines accounts for approximately 0.7% of Intech Investment Management LLC’s investment portfolio, making the stock its 20th largest position. Intech Investment Management LLC’s holdings in International Business Machines were worth $55,004,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in IBM. Mosley Wealth Management acquired a new stake in International Business Machines during the fourth quarter worth $312,000. Hodges Capital Management Inc. grew its holdings in shares of International Business Machines by 60.8% during the 1st quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock worth $3,921,000 after purchasing an additional 7,768 shares during the period. Burns J W & Co. Inc. NY increased its position in shares of International Business Machines by 10.8% during the 1st quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock worth $491,000 after purchasing an additional 250 shares during the last quarter. 1832 Asset Management L.P. purchased a new stake in International Business Machines in the 4th quarter valued at about $3,017,000. Finally, Westwood Holdings Group Inc. lifted its position in International Business Machines by 19.9% in the fourth quarter. Westwood Holdings Group Inc. now owns 115,321 shares of the technology company’s stock valued at $18,861,000 after buying an additional 19,175 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on IBM. Evercore ISI lifted their price target on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. BMO Capital Markets lifted their target price on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. UBS Group lifted their price objective on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. Finally, Jefferies Financial Group boosted 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 equities research 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.com, International Business Machines presently has an average rating of “Hold” and a consensus price target of $188.60.

International Business Machines Stock Down 0.5 %

Shares of International Business Machines stock opened at $213.89 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. International Business Machines Co. has a 52-week low of $135.87 and a 52-week high of $218.84. The company has a market capitalization of $196.48 billion, a P/E ratio of 24.22, a P/E/G ratio of 4.67 and a beta of 0.70. The company has a 50 day moving average of $195.83 and a 200 day moving average of $184.21.

International Business Machines (NYSE:IBM) last released its quarterly earnings data 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. The business had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.18 EPS. As a group, research analysts forecast that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued a $1.67 dividend. 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 3.12%. International Business Machines’s payout ratio 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.