International Business Machines Co. (NYSE:IBM) Shares Acquired by Peddock Capital Advisors LLC

Peddock Capital Advisors LLC raised its stake in International Business Machines Co. (NYSE:IBM) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,379 shares of the technology company’s stock after acquiring an additional 255 shares during the period. Peddock Capital Advisors LLC’s holdings in International Business Machines were worth $1,534,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of International Business Machines by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 82,076,195 shares of the technology company’s stock worth $11,515,290,000 after buying an additional 365,388 shares in the last quarter. Morgan Stanley increased its position in shares of International Business Machines by 13.4% in the third quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock worth $2,280,968,000 after acquiring an additional 1,919,490 shares in the last quarter. Northern Trust Corp raised its holdings in shares of International Business Machines by 4.2% during the third quarter. Northern Trust Corp now owns 9,970,674 shares of the technology company’s stock valued at $1,398,886,000 after acquiring an additional 404,948 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of International Business Machines by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,465,214 shares of the technology company’s stock valued at $1,048,631,000 after acquiring an additional 61,028 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in International Business Machines by 15.9% in the 3rd 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 period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Performance

Shares of IBM traded up $1.57 during mid-day trading on Wednesday, hitting $169.95. The company’s stock had a trading volume of 1,896,972 shares, compared to its average volume of 4,914,417. The stock’s 50-day moving average is $185.11 and its two-hundred day moving average is $171.88. The firm has a market capitalization of $156.12 billion, a PE ratio of 19.18, a price-to-earnings-growth ratio of 4.08 and a beta of 0.74. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13. International Business Machines Co. has a one year low of $120.55 and a one year 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 company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period last year, the business posted $1.36 EPS. As a group, sell-side analysts anticipate that International Business Machines Co. will post 9.92 EPS for the current year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be given a $1.67 dividend. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a yield of 3.93%. The ex-dividend date is Thursday, May 9th. International Business Machines’s dividend payout ratio (DPR) is 75.20%.

Analysts Set New Price Targets

IBM has been the subject of a number of research analyst reports. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Wedbush lifted their target price on International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Evercore ISI raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $165.00 to $200.00 in a research report on Friday, January 19th. BMO Capital Markets decreased their target price on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a research note on Thursday, April 25th. Finally, Evercore raised International Business Machines from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $165.00 to $200.00 in a research note on Friday, January 19th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $181.29.

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.