Summit Global Investments Acquires 493 Shares of International Business Machines Co. (NYSE:IBM)

Summit Global Investments boosted its holdings in International Business Machines Co. (NYSE:IBM) by 29.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,169 shares of the technology company’s stock after purchasing an additional 493 shares during the quarter. Summit Global Investments’ holdings in International Business Machines were worth $355,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of IBM. Vontobel Holding Ltd. raised its holdings in shares of International Business Machines by 20.3% in the 4th quarter. Vontobel Holding Ltd. now owns 477,193 shares of the technology company’s stock worth $78,045,000 after purchasing an additional 80,474 shares during the period. Natixis Advisors L.P. grew its stake in shares of International Business Machines by 18.1% during the third quarter. Natixis Advisors L.P. now owns 372,307 shares of the technology company’s stock valued at $52,235,000 after buying an additional 57,170 shares during the last quarter. Herold Advisors Inc. boosted its stake in shares of International Business Machines by 3.2% during the third quarter. Herold Advisors Inc. now owns 21,880 shares of the technology company’s stock valued at $3,070,000 after purchasing an additional 688 shares during the period. Tsfg LLC grew its holdings in International Business Machines by 40.5% in the 4th quarter. Tsfg LLC now owns 378 shares of the technology company’s stock worth $62,000 after acquiring an additional 109 shares during the last quarter. Finally, Auxano Advisors LLC lifted its holdings in International Business Machines by 4.8% in the 4th quarter. Auxano Advisors LLC now owns 3,398 shares of the technology company’s stock worth $556,000 after buying an additional 156 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 0.6 %

NYSE IBM opened at $165.71 on Monday. The company has a market cap of $152.22 billion, a P/E ratio of 18.77, a P/E/G ratio of 4.08 and a beta of 0.74. International Business Machines Co. has a one year low of $120.55 and a one year high of $199.18. The business has a fifty day moving average price of $185.75 and a 200 day moving average price of $171.44. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. During the same quarter last year, the firm earned $1.36 EPS. The business’s revenue was up 1.5% compared to the same quarter last year. Research analysts anticipate that International Business Machines Co. will post 9.92 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 4.03%. The ex-dividend date is Thursday, May 9th. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio (DPR) is presently 75.20%.

Analysts Set New Price Targets

A number of research firms have weighed in on IBM. JPMorgan Chase & Co. reduced their target price on International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Bank of America raised their target price on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Evercore raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $165.00 to $200.00 in a research report on Friday, January 19th. BMO Capital Markets dropped their price target on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a research report on Thursday, April 25th. Finally, Morgan Stanley lowered their price target on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and a consensus price target of $181.29.

International Business Machines Company Profile

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.