Princeton Global Asset Management LLC increased its position in shares of International Business Machines Corporation (NYSE:IBM – Free Report) by 58.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,244 shares of the technology company’s stock after buying an additional 461 shares during the quarter. Princeton Global Asset Management LLC’s holdings in International Business Machines were worth $367,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Family CFO Inc purchased a new position in International Business Machines during the 2nd quarter worth $25,000. Christopher J. Hasenberg Inc acquired a new stake in shares of International Business Machines during the first quarter worth about $27,000. SSA Swiss Advisors AG purchased a new position in shares of International Business Machines during the first quarter worth about $28,000. Dagco Inc. acquired a new position in International Business Machines in the 1st quarter valued at about $31,000. Finally, Silicon Valley Capital Partners raised its stake in International Business Machines by 322.6% during the 1st quarter. Silicon Valley Capital Partners now owns 131 shares of the technology company’s stock valued at $32,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.
International Business Machines Stock Performance
Shares of IBM opened at $283.64 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. International Business Machines Corporation has a 52-week low of $203.51 and a 52-week high of $301.04. The company has a 50-day simple moving average of $262.02 and a 200-day simple moving average of $262.25. The company has a market capitalization of $263.61 billion, a PE ratio of 46.05, a P/E/G ratio of 4.33 and a beta of 0.73.
International Business Machines Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were given a $1.68 dividend. The ex-dividend date was Friday, August 8th. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.4%. International Business Machines’s dividend payout ratio (DPR) is currently 109.09%.
Analysts Set New Price Targets
Several research analysts have weighed in on the company. Sanford C. Bernstein started coverage on International Business Machines in a research note on Monday, September 15th. They issued a “market perform” rating and a $280.00 target price on the stock. JPMorgan Chase & Co. boosted their price objective on shares of International Business Machines from $244.00 to $290.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Wall Street Zen downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Saturday. BMO Capital Markets lifted their target price on shares of International Business Machines from $260.00 to $300.00 and gave the company a “market perform” rating in a report on Friday, July 18th. Finally, Melius Research raised shares of International Business Machines to a “strong-buy” rating in a report on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $286.38.
Check Out Our Latest Analysis on IBM
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.
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