Meiji Yasuda Asset Management Co Ltd. Buys 4,935 Shares of International Business Machines Co. (NYSE:IBM)

by · The Markets Daily

Meiji Yasuda Asset Management Co Ltd. raised its stake in International Business Machines Co. (NYSE:IBM – Free Report) by 4.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 104,886 shares of the technology company’s stock after purchasing an additional 4,935 shares during the quarter. International Business Machines makes up about 0.7% of Meiji Yasuda Asset Management Co Ltd.’s portfolio, making the stock its 24th biggest holding. Meiji Yasuda Asset Management Co Ltd.’s holdings in International Business Machines were worth $18,140,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Gilbert & Cook Inc. lifted its position in shares of International Business Machines by 2.7% in the fourth quarter. Gilbert & Cook Inc. now owns 3,892 shares of the technology company’s stock valued at $637,000 after buying an additional 101 shares during the last quarter. Aveo Capital Partners LLC raised its stake in International Business Machines by 3.6% in the 4th quarter. Aveo Capital Partners LLC now owns 3,101 shares of the technology company’s stock valued at $507,000 after acquiring an additional 109 shares during the period. Gryphon Financial Partners LLC increased its holdings in shares of International Business Machines by 6.5% in the fourth quarter. Gryphon Financial Partners LLC now owns 2,394 shares of the technology company’s stock valued at $386,000 after purchasing an additional 147 shares during the last quarter. TrinityPoint Wealth LLC raised its position in shares of International Business Machines by 12.3% in the fourth quarter. TrinityPoint Wealth LLC now owns 3,909 shares of the technology company’s stock valued at $639,000 after purchasing an additional 428 shares during the period. Finally, Clearbridge Investments LLC raised its position in shares of International Business Machines by 32.7% in the fourth quarter. Clearbridge Investments LLC now owns 45,653 shares of the technology company’s stock valued at $7,467,000 after purchasing an additional 11,247 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Down 1.4 %

Shares of NYSE IBM opened at $214.13 on Wednesday. The stock has a 50-day moving average price of $194.37 and a two-hundred day moving average price of $183.78. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $218.84. 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 company has a market cap of $196.70 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 4.67 and a beta of 0.70.

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

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a yield of 3.12%. International Business Machines’s dividend payout ratio is currently 75.65%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on IBM. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. The Goldman Sachs Group initiated coverage on International Business Machines in a research report on Monday, June 24th. They issued a “buy” rating and a $200.00 target price on the stock. Evercore ISI lifted their price target on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Finally, Stifel Nicolaus increased their price objective on International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $188.60.

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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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