Northstar Group Inc. Makes New Investment in International Business Machines Co. (NYSE:IBM)

Northstar Group Inc. purchased a new stake in International Business Machines Co. (NYSE:IBM) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,003 shares of the technology company’s stock, valued at approximately $222,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of 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 valued at $16,833,642,000 after purchasing an additional 5,546,855 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of International Business Machines by 151.6% during 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 acquiring an additional 2,118,165 shares during the period. Thrivent Financial for Lutherans lifted its position in International Business Machines by 306.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock valued at $242,441,000 after acquiring an additional 1,056,759 shares in the last quarter. Strategic Financial Concepts LLC boosted its stake in International Business Machines by 12,282.2% in the 2nd quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock worth $817,000 after purchasing an additional 468,567 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in International Business Machines by 6.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock worth $1,274,074,000 after purchasing an additional 444,698 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Performance

NYSE IBM traded down $0.43 during trading on Thursday, reaching $233.87. The company’s stock had a trading volume of 468,761 shares, compared to its average volume of 4,198,500. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $235.83. The firm has a 50 day moving average price of $205.92 and a 200 day moving average price of $187.02. The firm has a market capitalization of $214.83 billion, a price-to-earnings ratio of 26.53, a price-to-earnings-growth ratio of 4.90 and a beta of 0.70. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. The business had revenue of $15.77 billion for the quarter, compared to the consensus estimate 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 quarter in the prior year, the business posted $2.18 earnings per share. As a group, equities analysts anticipate that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were given a dividend of $1.67 per share. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 2.86%. International Business Machines’s dividend payout ratio is 75.65%.

Analyst Upgrades and Downgrades

IBM has been the topic of several research reports. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. UBS Group raised their price objective on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Royal Bank of Canada raised their price target on International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Bank of America upped their target price on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target 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.