Quantinno Capital Management LP Boosts Stake in International Business Machines Corporation $IBM

by · The Markets Daily

Quantinno Capital Management LP grew its position in shares of International Business Machines Corporation (NYSE:IBM – Free Report) by 48.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 126,139 shares of the technology company’s stock after purchasing an additional 41,068 shares during the period. Quantinno Capital Management LP’s holdings in International Business Machines were worth $37,183,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of IBM. Norges Bank purchased a new position in International Business Machines during the 2nd quarter valued at about $2,011,122,000. Vanguard Group Inc. boosted its stake in shares of International Business Machines by 2.1% in the second quarter. Vanguard Group Inc. now owns 95,051,475 shares of the technology company’s stock valued at $28,019,274,000 after purchasing an additional 1,913,708 shares during the period. Laurel Wealth Advisors LLC grew its holdings in shares of International Business Machines by 27,928.2% in the second quarter. Laurel Wealth Advisors LLC now owns 1,903,116 shares of the technology company’s stock valued at $561,001,000 after purchasing an additional 1,896,326 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in International Business Machines by 41.6% during the 1st 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 period. Finally, 1832 Asset Management L.P. lifted its holdings in International Business Machines by 4,260.3% during the 1st quarter. 1832 Asset Management L.P. now owns 557,247 shares of the technology company’s stock worth $138,565,000 after buying an additional 544,467 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Oppenheimer started coverage on International Business Machines in a research note on Friday, November 21st. They issued an “outperform” rating and a $360.00 price objective on the stock. Weiss Ratings raised International Business Machines from a “hold (c+)” rating to a “buy (b)” rating in a research report on Saturday, October 25th. Sanford C. Bernstein reiterated a “market perform” rating on shares of International Business Machines in a research note on Wednesday. Wall Street Zen upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Sunday, October 26th. Finally, Royal Bank Of Canada lowered their target price on shares of International Business Machines from $315.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $293.38.

View Our Latest Report on International Business Machines

International Business Machines Price Performance

Shares of IBM opened at $310.53 on Friday. The firm has a fifty day moving average price of $299.06 and a 200 day moving average price of $277.74. The stock has a market cap of $290.26 billion, a PE ratio of 37.14, a price-to-earnings-growth ratio of 3.11 and a beta of 0.69. International Business Machines Corporation has a 1-year low of $214.50 and a 1-year high of $324.90. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.93 and a quick ratio of 0.89.

International Business Machines (NYSE:IBM – Get Free Report) last announced its earnings results on Wednesday, October 22nd. The technology company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.20. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.The firm had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.10 billion. During the same period in the prior year, the firm earned $2.30 EPS. The business’s revenue was up 9.1% on a year-over-year basis. As a group, sell-side analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Monday, November 10th were given a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.2%. The ex-dividend date was Monday, November 10th. International Business Machines’s payout ratio is 80.38%.

About International Business Machines

(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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