New England Research & Management Inc. Boosts Stake in International Business Machines Corporation $IBM

New England Research & Management Inc. boosted its position in International Business Machines Corporation (NYSE:IBM) by 32.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,660 shares of the technology company’s stock after acquiring an additional 2,590 shares during the quarter. International Business Machines accounts for approximately 1.4% of New England Research & Management Inc.’s portfolio, making the stock its 18th largest holding. New England Research & Management Inc.’s holdings in International Business Machines were worth $3,008,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in shares of International Business Machines by 12.4% during the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock valued at $4,619,000 after buying an additional 2,323 shares in the last quarter. Strategies Wealth Advisors LLC bought a new stake in shares of International Business Machines in the 1st quarter worth approximately $398,000. Vestmark Advisory Solutions Inc. bought a new position in shares of International Business Machines during the 1st quarter valued at $225,000. Northwest & Ethical Investments L.P. purchased a new position in International Business Machines in the 1st quarter worth $451,000. Finally, Ethos Financial Group LLC lifted its stake in International Business Machines by 3.1% in the first quarter. Ethos Financial Group LLC now owns 2,485 shares of the technology company’s stock worth $618,000 after purchasing an additional 74 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on IBM shares. Bank of America raised their price objective on International Business Machines from $310.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of International Business Machines in a research note on Wednesday, December 10th. Oppenheimer initiated coverage on International Business Machines in a research note on Friday, November 21st. They set an “outperform” rating and a $360.00 price objective for the company. Weiss Ratings raised shares of International Business Machines from a “hold (c+)” rating to a “buy (b)” rating in a research note on Saturday, October 25th. Finally, Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Friday, December 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $293.38.

International Business Machines Stock Down 0.1%

Shares of International Business Machines stock opened at $308.94 on Tuesday. The company’s fifty day simple moving average is $299.86 and its two-hundred day simple moving average is $278.67. International Business Machines Corporation has a 12-month low of $214.50 and a 12-month high of $324.90. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 1.97. The company has a market cap of $288.78 billion, a P/E ratio of 36.95, a PEG ratio of 3.08 and a beta of 0.69.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, October 22nd. The technology company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.20. International Business Machines had a net margin of 12.09% and a return on equity of 37.76%. The firm had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.10 billion. During the same quarter in the previous year, the firm posted $2.30 EPS. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. Research analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th were paid a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Monday, November 10th. International Business Machines’s dividend payout ratio (DPR) is presently 80.38%.

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.