International Business Machines Co. (NYSE:IBM) Stake Increased by West Branch Capital LLC

by · The Cerbat Gem

West Branch Capital LLC increased its stake in International Business Machines Co. (NYSE:IBM – Free Report) by 27.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 915 shares of the technology company’s stock after buying an additional 195 shares during the period. West Branch Capital LLC’s holdings in International Business Machines were worth $202,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in IBM. Vanguard Group Inc. increased its stake in shares of International Business Machines by 6.7% in the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after buying an additional 5,546,855 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in International Business Machines by 151.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock valued at $671,352,000 after purchasing an additional 2,118,165 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in International Business Machines by 306.3% during the second quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock valued at $242,441,000 after purchasing an additional 1,056,759 shares during the last quarter. Strategic Financial Concepts LLC increased its stake in International Business Machines by 12,282.2% during the second quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock valued at $817,000 after purchasing an additional 468,567 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in International Business Machines by 6.4% during the second quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after purchasing an additional 444,698 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

IBM stock traded down $0.68 during trading on Friday, hitting $232.20. The company had a trading volume of 4,715,688 shares, compared to its average volume of 4,195,661. International Business Machines Co. has a fifty-two week low of $135.87 and a fifty-two week high of $237.37. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The firm has a market capitalization of $213.30 billion, a price-to-earnings ratio of 26.30, a P/E/G ratio of 5.21 and a beta of 0.70. The business has a 50 day moving average of $212.19 and a 200 day moving average of $189.15.

International Business Machines (NYSE:IBM – Get Free Report) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same period in the prior year, the company earned $2.18 EPS. International Business Machines’s revenue was up 1.9% on a year-over-year basis. As a group, research analysts predict that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date was Friday, August 9th. International Business Machines’s payout ratio is 75.65%.

Wall Street Analyst Weigh In

Several analysts have weighed in on IBM shares. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Morgan Stanley boosted their target price on shares of International Business Machines from $182.00 to $217.00 and gave the company an “equal weight” rating in a research note on Thursday. Stifel Nicolaus boosted their target price on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday. UBS Group upped their price target on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. Finally, Bernstein Bank upped their price target on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, International Business Machines has a consensus rating of “Hold” and a consensus target price of $203.06.

View Our Latest Stock Report on International Business Machines

International Business Machines Company Profile

(Free Report)

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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