Ascent Wealth Partners LLC Has $1.85 Million Stock Position in International Business Machines Corporation (NYSE:IBM)

Ascent Wealth Partners LLC raised its holdings in International Business Machines Corporation (NYSE:IBM) by 3.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,445 shares of the technology company’s stock after buying an additional 236 shares during the quarter. Ascent Wealth Partners LLC’s holdings in International Business Machines were worth $1,851,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Capital World Investors grew its holdings in shares of International Business Machines by 413.5% during the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock worth $2,634,577,000 after purchasing an additional 9,650,534 shares in the last quarter. Norges Bank acquired a new stake in shares of International Business Machines during the 4th quarter worth approximately $1,236,176,000. GAMMA Investing LLC grew its holdings in shares of International Business Machines by 29,564.2% during the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company’s stock worth $10,940,520,000 after purchasing an additional 4,384,958 shares in the last quarter. Northern Trust Corp grew its holdings in shares of International Business Machines by 18.6% during the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock worth $2,384,275,000 after purchasing an additional 1,704,209 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of International Business Machines by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock worth $20,189,023,000 after purchasing an additional 1,539,888 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on IBM shares. BMO Capital Markets reissued a “market perform” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Wedbush lifted their price objective on International Business Machines from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, June 20th. Melius Research upgraded International Business Machines to a “strong-buy” rating in a research report on Monday, July 7th. The Goldman Sachs Group raised their target price on International Business Machines from $270.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, July 2nd. Finally, Bank of America raised their target price on International Business Machines from $290.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, June 18th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $263.06.

International Business Machines Stock Down 0.4%

NYSE IBM opened at $281.68 on Thursday. The stock has a fifty day moving average of $275.10 and a 200-day moving average of $253.14. The stock has a market capitalization of $261.79 billion, a P/E ratio of 48.48, a price-to-earnings-growth ratio of 5.94 and a beta of 0.69. International Business Machines Corporation has a 52 week low of $181.81 and a 52 week high of $296.16. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.42 by $0.18. The company had revenue of $14.54 billion during the quarter, compared to analysts’ expectations of $14.41 billion. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The business’s revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the firm earned $1.68 EPS. On average, equities research analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current 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 paid a $1.68 dividend. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.39%. International Business Machines’s dividend payout ratio (DPR) is 115.66%.

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.