State Street Corp Buys 518,321 Shares of International Business Machines Corporation $IBM

State Street Corp raised its stake in shares of International Business Machines Corporation (NYSE:IBM) by 1.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,996,293 shares of the technology company’s stock after buying an additional 518,321 shares during the period. International Business Machines accounts for approximately 0.5% of State Street Corp’s portfolio, making the stock its 27th biggest holding. State Street Corp owned 5.88% of International Business Machines worth $16,290,452,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Norges Bank acquired a new stake in International Business Machines during the fourth quarter worth about $2,446,429,000. Capital World Investors raised its stake in shares of International Business Machines by 29.2% in the fourth quarter. Capital World Investors now owns 22,021,912 shares of the technology company’s stock valued at $6,523,720,000 after acquiring an additional 4,976,756 shares during the last quarter. Vanguard Group Inc. lifted its holdings in International Business Machines by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 97,216,131 shares of the technology company’s stock worth $28,796,390,000 after buying an additional 1,439,824 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of International Business Machines by 26.3% in the 4th quarter. Victory Capital Management Inc. now owns 4,582,818 shares of the technology company’s stock valued at $1,357,478,000 after buying an additional 954,879 shares during the period. Finally, First Trust Advisors LP grew its holdings in shares of International Business Machines by 39.6% in the 3rd quarter. First Trust Advisors LP now owns 3,052,880 shares of the technology company’s stock valued at $861,401,000 after buying an additional 865,253 shares during the period. 58.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

IBM has been the topic of several research analyst reports. Oppenheimer lowered their price target on shares of International Business Machines from $380.00 to $320.00 and set an “outperform” rating on the stock in a report on Thursday, April 16th. UBS Group upgraded shares of International Business Machines from a “sell” rating to a “neutral” rating and set a $236.00 target price on the stock in a research report on Wednesday, February 25th. JPMorgan Chase & Co. decreased their price target on shares of International Business Machines from $317.00 to $283.00 and set a “neutral” rating for the company in a research note on Wednesday, March 18th. Needham & Company LLC began coverage on shares of International Business Machines in a research note on Wednesday, June 3rd. They issued a “buy” rating for the company. Finally, DZ Bank upgraded shares of International Business Machines from a “hold” rating to a “buy” rating and set a $295.00 price target on the stock in a report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, International Business Machines has an average rating of “Moderate Buy” and an average target price of $304.17.

International Business Machines Price Performance

Shares of IBM opened at $271.77 on Friday. The firm’s 50-day simple moving average is $250.02 and its two-hundred day simple moving average is $270.34. The stock has a market cap of $255.43 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 2.85 and a beta of 0.67. International Business Machines Corporation has a fifty-two week low of $212.34 and a fifty-two week high of $332.46. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.80.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, April 22nd. The technology company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.10. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The company had revenue of $15.92 billion for the quarter, compared to the consensus estimate of $15.60 billion. During the same quarter in the prior year, the firm earned $1.60 earnings per share. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. Analysts anticipate that International Business Machines Corporation will post 12.38 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th were given a dividend of $1.69 per share. This is a positive change from International Business Machines’s previous quarterly dividend of $1.68. The ex-dividend date of this dividend was Friday, May 8th. This represents a $6.76 dividend on an annualized basis and a yield of 2.5%. International Business Machines’s payout ratio is 59.77%.

International Business Machines Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.