Grove Street Fiduciary LLC Purchases 1,100 Shares of International Business Machines Corporation (NYSE:IBM)

Grove Street Fiduciary LLC lifted its position in shares of International Business Machines Corporation (NYSE:IBM) by 44.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 3,554 shares of the technology company’s stock after acquiring an additional 1,100 shares during the quarter. Grove Street Fiduciary LLC’s holdings in International Business Machines were worth $884,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital World Investors raised its holdings in shares of 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 acquiring an additional 9,650,534 shares in the last quarter. Norges Bank purchased a new stake in shares of International Business Machines in the 4th quarter valued at about $1,236,176,000. GAMMA Investing LLC raised its holdings in shares of 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 acquiring an additional 4,384,958 shares in the last quarter. Northern Trust Corp raised its holdings in shares of 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 acquiring an additional 1,704,209 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC purchased a new stake in shares of International Business Machines in the 4th quarter valued at about $302,564,000. Institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on IBM. Stifel Nicolaus raised their price objective on International Business Machines from $290.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. Jefferies Financial Group reissued a “hold” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Royal Bank Of Canada raised their price objective on International Business Machines from $285.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday, July 17th. KGI Securities set a $242.00 price objective on International Business Machines and gave the company a “hold” rating in a report on Thursday, April 24th. Finally, Wall Street Zen cut International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $266.19.

International Business Machines Trading Down 0.9%

NYSE IBM opened at $282.05 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. International Business Machines Corporation has a twelve month low of $181.81 and a twelve month high of $296.16. The firm has a market capitalization of $262.13 billion, a PE ratio of 48.54, a P/E/G ratio of 5.98 and a beta of 0.69. The stock’s 50 day moving average is $276.39 and its 200 day moving average is $254.50.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.42 by $0.18. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The business had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. During the same period in the previous year, the company posted $1.68 earnings per share. The company’s revenue for the quarter was up .5% compared to the same quarter last year. Research analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.38%. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s payout ratio is currently 115.66%.

International Business Machines Company 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.