J.Safra Asset Management Corp boosted its position in shares of International Business Machines Corporation (NYSE:IBM – Free Report) by 13.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,233 shares of the technology company’s stock after purchasing an additional 388 shares during the quarter. J.Safra Asset Management Corp’s holdings in International Business Machines were worth $937,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in IBM. GQG Partners LLC bought a new stake in shares of International Business Machines in the first quarter worth $1,040,057,000. Nuveen LLC acquired a new position in International Business Machines during the first quarter worth $960,386,000. Vanguard Group Inc. increased its holdings in International Business Machines by 1.4% during the first quarter. Vanguard Group Inc. now owns 93,137,767 shares of the technology company’s stock worth $23,159,637,000 after buying an additional 1,298,515 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in International Business Machines by 41.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,164,987 shares of the technology company’s stock worth $787,007,000 after buying an additional 930,448 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in International Business Machines by 20.8% during the first quarter. Goldman Sachs Group Inc. now owns 5,157,846 shares of the technology company’s stock worth $1,282,550,000 after buying an additional 889,008 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.
International Business Machines Trading Down 0.2%
IBM stock opened at $277.21 on Tuesday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. The company’s 50-day simple moving average is $258.69 and its 200 day simple moving average is $261.01. International Business Machines Corporation has a 52 week low of $203.51 and a 52 week high of $301.04. The company has a market capitalization of $257.64 billion, a PE ratio of 45.00, a price-to-earnings-growth ratio of 4.28 and a beta of 0.73.
International Business Machines Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were given a dividend of $1.68 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $6.72 annualized dividend and a yield of 2.4%. International Business Machines’s dividend payout ratio is currently 109.09%.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on IBM. Erste Group Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Thursday, August 14th. Stifel Nicolaus boosted their target price on shares of International Business Machines from $290.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. JPMorgan Chase & Co. boosted their target price on shares of International Business Machines from $244.00 to $290.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Royal Bank Of Canada boosted their target price on shares of International Business Machines from $285.00 to $315.00 and gave the stock an “outperform” rating in a report on Thursday, July 17th. Finally, Bank of America lowered their target price on shares of International Business Machines from $320.00 to $310.00 and set a “buy” rating on the stock in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $284.62.
Check Out Our Latest Report on IBM
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.
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