Choreo LLC Buys 17,331 Shares of International Business Machines Co. (NYSE:IBM)

Choreo LLC raised its stake in shares of International Business Machines Co. (NYSE:IBM) by 89.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,692 shares of the technology company’s stock after buying an additional 17,331 shares during the quarter. Choreo LLC’s holdings in International Business Machines were worth $6,001,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of IBM. International Assets Investment Management LLC increased its holdings in shares of International Business Machines by 15,439.1% in the fourth quarter. International Assets Investment Management LLC now owns 2,653,462 shares of the technology company’s stock worth $433,974,000 after purchasing an additional 2,636,386 shares during the period. Morgan Stanley boosted its position in shares of International Business Machines by 13.4% during the 3rd quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock valued at $2,280,968,000 after acquiring an additional 1,919,490 shares during the last quarter. California Public Employees Retirement System increased its position in shares of International Business Machines by 15.9% in the third quarter. California Public Employees Retirement System now owns 6,345,842 shares of the technology company’s stock worth $890,322,000 after purchasing an additional 871,247 shares during the last quarter. Bank of New York Mellon Corp raised its stake in International Business Machines by 10.2% in the third quarter. Bank of New York Mellon Corp now owns 8,691,369 shares of the technology company’s stock valued at $1,219,399,000 after purchasing an additional 807,357 shares in the last quarter. Finally, Northern Trust Corp grew its stake in International Business Machines by 4.2% in the 3rd quarter. Northern Trust Corp now owns 9,970,674 shares of the technology company’s stock worth $1,398,886,000 after buying an additional 404,948 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

IBM has been the subject of several research analyst reports. Evercore raised International Business Machines from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $165.00 to $200.00 in a research note on Friday, January 19th. Societe Generale reiterated a “sell” rating and set a $143.00 price target on shares of International Business Machines in a research report on Friday, January 5th. Sanford C. Bernstein increased their target price on shares of International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a report on Thursday, March 7th. Jefferies Financial Group cut their price target on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a research report on Tuesday, April 23rd. Finally, Royal Bank of Canada increased their target price on International Business Machines from $179.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average target price of $184.08.

International Business Machines Stock Down 0.3 %

Shares of IBM stock traded down $0.54 during trading hours on Monday, hitting $166.59. 1,498,515 shares of the company’s stock traded hands, compared to its average volume of 4,964,289. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. The stock has a market cap of $152.72 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 4.08 and a beta of 0.70. The stock’s fifty day simple moving average is $187.60 and its two-hundred day simple moving average is $170.53. International Business Machines Co. has a 12-month low of $120.55 and a 12-month high of $199.18.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.09. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. International Business Machines’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.36 EPS. On average, analysts expect that International Business Machines Co. will post 9.99 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Investors of record on Friday, February 9th were given a dividend of $1.66 per share. The ex-dividend date was Thursday, February 8th. This represents a $6.64 annualized dividend and a dividend yield of 3.99%. International Business Machines’s dividend payout ratio (DPR) is presently 75.20%.

International Business Machines 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.