Edgestream Partners L.P. Has $2.13 Million Stake in International Business Machines Corporation (NYSE:IBM)

Edgestream Partners L.P. raised its position in International Business Machines Corporation (NYSE:IBM) by 39.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,567 shares of the technology company’s stock after buying an additional 2,424 shares during the period. Edgestream Partners L.P.’s holdings in International Business Machines were worth $2,130,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of IBM. Brighton Jones LLC raised its holdings in International Business Machines by 12.4% during the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock worth $4,619,000 after buying an additional 2,323 shares during the last quarter. Proficio Capital Partners LLC raised its position in International Business Machines by 81.5% in the 4th quarter. Proficio Capital Partners LLC now owns 2,686 shares of the technology company’s stock worth $591,000 after buying an additional 1,206 shares during the last quarter. Brooklyn FI LLC bought a new position in shares of International Business Machines during the 4th quarter valued at approximately $455,000. Royal London Asset Management Ltd. raised its stake in International Business Machines by 0.8% during the fourth quarter. Royal London Asset Management Ltd. now owns 403,350 shares of the technology company’s stock valued at $88,668,000 after purchasing an additional 3,354 shares in the last quarter. Finally, Sandy Spring Bank increased its stake in International Business Machines by 23.1% in the fourth quarter. Sandy Spring Bank now owns 13,523 shares of the technology company’s stock worth $2,973,000 after purchasing an additional 2,542 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

IBM has been the subject of several recent research reports. KGI Securities set a $242.00 price target on International Business Machines and gave the company a “hold” rating in a research report on Thursday, April 24th. Melius Research raised International Business Machines to a “strong-buy” rating in a research report on Monday, July 7th. Royal Bank Of Canada increased their price objective on International Business Machines from $285.00 to $315.00 and gave the stock an “outperform” rating in a research report on Thursday. The Goldman Sachs Group raised their price objective on International Business Machines from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Finally, Wall Street Zen cut International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $264.94.

International Business Machines Trading Up 0.0%

International Business Machines stock opened at $282.04 on Friday. The stock has a market cap of $262.13 billion, a P/E ratio of 48.54, a PEG ratio of 5.92 and a beta of 0.69. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97. International Business Machines Corporation has a 1 year low of $181.81 and a 1 year high of $296.16. The firm’s 50 day moving average price is $275.65 and its 200-day moving average price is $253.56.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $14.41 billion. During the same period in the previous year, the company posted $1.68 earnings per share. The firm’s revenue was up .5% on a year-over-year basis. On average, equities analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were paid a $1.68 dividend. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.38%. International Business Machines’s dividend payout ratio is currently 115.66%.

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.