International Business Machines Corporation $IBM Position Lifted by Hudson Edge Investment Partners Inc.

Hudson Edge Investment Partners Inc. grew its stake in shares of International Business Machines Corporation (NYSE:IBM) by 25.7% in the 1st quarter, Holdings Channel.com reports. The fund owned 28,281 shares of the technology company’s stock after purchasing an additional 5,782 shares during the quarter. Hudson Edge Investment Partners Inc.’s holdings in International Business Machines were worth $6,855,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. CVA Family Office LLC grew its stake in International Business Machines by 1.4% in the fourth quarter. CVA Family Office LLC now owns 2,389 shares of the technology company’s stock worth $708,000 after purchasing an additional 33 shares in the last quarter. Foster Group Inc. increased its holdings in International Business Machines by 1.3% in the fourth quarter. Foster Group Inc. now owns 2,507 shares of the technology company’s stock valued at $742,000 after buying an additional 33 shares during the last quarter. New Covenant Trust Company N.A. raised its stake in International Business Machines by 3.8% during the fourth quarter. New Covenant Trust Company N.A. now owns 905 shares of the technology company’s stock valued at $264,000 after buying an additional 33 shares in the last quarter. McGowan Group Asset Management Inc. lifted its holdings in International Business Machines by 1.2% during the 4th quarter. McGowan Group Asset Management Inc. now owns 2,693 shares of the technology company’s stock worth $798,000 after buying an additional 33 shares during the last quarter. Finally, Altman Advisors Inc. lifted its holdings in International Business Machines by 0.3% during the 3rd quarter. Altman Advisors Inc. now owns 9,929 shares of the technology company’s stock worth $2,802,000 after buying an additional 34 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wall Street Zen upgraded International Business Machines from a “sell” rating to a “hold” rating in a report on Sunday, June 21st. Jefferies Financial Group started coverage on International Business Machines in a research note on Tuesday, June 23rd. They set a “buy” rating on the stock. KeyCorp downgraded shares of International Business Machines to a “sector weight” rating in a report on Tuesday, June 23rd. Wolfe Research lowered shares of International Business Machines to a “peer perform” rating in a research note on Tuesday, June 23rd. Finally, Piper Sandler raised shares of International Business Machines to an “overweight” rating in a report on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $306.76.

International Business Machines Stock Performance

Shares of IBM stock opened at $288.95 on Friday. The company has a market cap of $271.58 billion, a P/E ratio of 25.55, a PEG ratio of 3.00 and a beta of 0.68. The business has a 50 day moving average of $256.99 and a two-hundred day moving average of $266.36. International Business Machines Corporation has a 52 week low of $212.34 and a 52 week high of $332.46. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.75.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.10. The business had revenue of $15.92 billion for the quarter, compared to analysts’ expectations of $15.60 billion. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.60 EPS. As a group, analysts anticipate that International Business Machines Corporation will post 12.4 EPS for the current year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th were given a $1.69 dividend. This is a boost from International Business Machines’s previous quarterly dividend of $1.68. This represents a $6.76 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Friday, May 8th. International Business Machines’s dividend payout ratio is 59.77%.

International Business Machines Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.