Naviter Wealth LLC Boosts Stake in International Business Machines Corporation (NYSE:IBM)

by · The Cerbat Gem

Naviter Wealth LLC grew its stake in International Business Machines Corporation (NYSE:IBM – Free Report) by 0.7% in the first quarter, HoldingsChannel reports. The institutional investor owned 10,598 shares of the technology company’s stock after buying an additional 69 shares during the period. Naviter Wealth LLC’s holdings in International Business Machines were worth $2,586,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of International Business Machines by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock worth $20,189,023,000 after buying an additional 1,539,888 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of International Business Machines by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company’s stock worth $4,589,145,000 after purchasing an additional 427,499 shares during the last quarter. Capital World Investors raised its holdings in shares of International Business Machines by 413.5% during the fourth 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 during the last quarter. Northern Trust Corp raised its holdings in shares of International Business Machines by 18.6% during the fourth 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 during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of International Business Machines by 9.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,112,092 shares of the technology company’s stock worth $1,783,281,000 after purchasing an additional 722,582 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IBM. Bank of America raised their target price on shares of International Business Machines from $290.00 to $320.00 and gave the stock a “buy” rating in a report on Wednesday, June 18th. BMO Capital Markets reissued a “market perform” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Citigroup reissued an “outperform” rating on shares of International Business Machines in a report on Saturday, May 10th. Wall Street Zen cut shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. Finally, Royal Bank Of Canada raised their target price on shares of International Business Machines from $276.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $253.75.

Read Our Latest Research Report on International Business Machines

International Business Machines Stock Down 0.8%

IBM stock opened at $289.69 on Friday. The firm’s fifty day moving average is $262.93 and its 200 day moving average is $247.66. International Business Machines Corporation has a one year low of $173.38 and a one year high of $296.16. The firm has a market cap of $269.24 billion, a PE ratio of 49.86, a P/E/G ratio of 6.08 and a beta of 0.66. 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 – Get Free Report) last announced its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.18. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The business had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. During the same quarter last year, the business earned $1.68 earnings per share. The company’s revenue for the quarter was up .5% compared to the same quarter last year. On average, research analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were given a $1.68 dividend. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.32%. International Business Machines’s dividend payout ratio (DPR) is 115.66%.

International Business Machines 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.

Further Reading

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