Azzad Asset Management Inc. ADV Acquires New Holdings in International Business Machines Co. (NYSE:IBM)

Azzad Asset Management Inc. ADV acquired a new stake in International Business Machines Co. (NYSE:IBM) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 20,842 shares of the technology company’s stock, valued at approximately $5,183,000. International Business Machines comprises about 0.6% of Azzad Asset Management Inc. ADV’s investment portfolio, making the stock its 25th biggest holding.

Several other hedge funds have also recently bought and sold shares of IBM. Capital World Investors lifted its position in International Business Machines by 413.5% in the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock valued at $2,634,577,000 after purchasing an additional 9,650,534 shares during the last quarter. Norges Bank bought a new stake in International Business Machines in the 4th quarter valued at about $1,236,176,000. GAMMA Investing LLC lifted its position in International Business Machines by 29,564.2% in the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company’s stock valued at $10,940,520,000 after purchasing an additional 4,384,958 shares during the last quarter. Raymond James Financial Inc. bought a new stake in International Business Machines in the 4th quarter valued at about $592,746,000. Finally, Northern Trust Corp lifted its position in International Business Machines by 18.6% in the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock valued at $2,384,275,000 after purchasing an additional 1,704,209 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on IBM. Bank of America lifted their price objective on shares of International Business Machines from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Monday, June 9th. UBS Group restated a “sell” rating and set a $170.00 price target (up from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. BMO Capital Markets restated a “market perform” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Morgan Stanley dropped their price target on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Finally, Citigroup restated an “outperform” rating on shares of International Business Machines in a research report on Saturday, May 10th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $250.31.

International Business Machines Stock Performance

Shares of IBM opened at $276.84 on Friday. The firm’s 50 day moving average is $252.60 and its 200-day moving average is $243.67. The stock has a market capitalization of $257.29 billion, a P/E ratio of 43.19, a P/E/G ratio of 5.81 and a beta of 0.66. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. International Business Machines Co. has a 12-month low of $167.23 and a 12-month high of $283.06.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.18. The business had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the firm posted $1.68 earnings per share. Equities research analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were given a $1.68 dividend. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.43%. International Business Machines’s dividend payout ratio (DPR) is 115.66%.

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.