Delta Asset Management LLC TN grew its position in International Business Machines Co. (NYSE:IBM – Free Report) by 23.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,096 shares of the technology company’s stock after acquiring an additional 1,160 shares during the period. Delta Asset Management LLC TN’s holdings in International Business Machines were worth $816,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the business. Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of International Business Machines by 138,904.7% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 17,781,486 shares of the technology company’s stock valued at $2,379,341,000 after purchasing an additional 17,768,694 shares in the last quarter. Morgan Stanley increased its stake in shares of International Business Machines by 22.8% in the 4th quarter. Morgan Stanley now owns 16,592,094 shares of the technology company’s stock valued at $2,337,660,000 after buying an additional 3,084,458 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of International Business Machines by 7.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 16,297,545 shares of the technology company’s stock valued at $2,119,007,000 after acquiring an additional 1,105,170 shares during the period. Geode Capital Management LLC boosted its holdings in International Business Machines by 1.5% in the first quarter. Geode Capital Management LLC now owns 16,209,322 shares of the technology company’s stock valued at $2,120,034,000 after acquiring an additional 235,143 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC increased its position in International Business Machines by 98,797.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 11,029,001 shares of the technology company’s stock worth $1,553,876,000 after purchasing an additional 11,017,849 shares during the period. 56.16% of the stock is owned by institutional investors and hedge funds.
International Business Machines Stock Up 0.5 %
IBM traded up $0.83 on Monday, hitting $153.72. 874,026 shares of the company were exchanged, compared to its average volume of 4,476,988. The stock’s fifty day moving average is $144.33 and its 200-day moving average is $138.97. International Business Machines Co. has a 12 month low of $120.55 and a 12 month high of $153.80. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.86 and a current ratio of 0.91. The company has a market cap of $140.36 billion, a PE ratio of 20.25, a PEG ratio of 4.16 and a beta of 0.76.
International Business Machines Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Saturday, December 9th. Stockholders of record on Friday, November 10th will be paid a dividend of $1.66 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $6.64 dividend on an annualized basis and a dividend yield of 4.32%. International Business Machines’s dividend payout ratio (DPR) is currently 88.06%.
Analysts Set New Price Targets
A number of research firms have commented on IBM. BMO Capital Markets lifted their target price on shares of International Business Machines from $152.00 to $155.00 and gave the stock a “market perform” rating in a report on Thursday, October 26th. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Friday, October 13th. Morgan Stanley reduced their target price on International Business Machines from $135.00 to $130.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 17th. Wedbush reaffirmed a “neutral” rating and issued a $140.00 price target on shares of International Business Machines in a research note on Monday, November 13th. Finally, Royal Bank of Canada reduced their price objective on shares of International Business Machines from $188.00 to $179.00 and set an “outperform” rating on the stock in a research note on Thursday, October 26th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and a consensus price target of $149.09.
International Business Machines Company Profile
International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.
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