2,143 Shares in International Business Machines Co. (NYSE:IBM) Bought by Lifestyle Asset Management Inc.

Lifestyle Asset Management Inc. purchased a new position in shares of International Business Machines Co. (NYSE:IBM) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 2,143 shares of the technology company’s stock, valued at approximately $409,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Schonfeld Strategic Advisors LLC acquired a new stake in shares of International Business Machines in the third quarter valued at about $801,000. Axxcess Wealth Management LLC raised its position in shares of International Business Machines by 43.0% during the third quarter. Axxcess Wealth Management LLC now owns 13,840 shares of the technology company’s stock valued at $1,942,000 after buying an additional 4,165 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in shares of International Business Machines by 9.3% in the third quarter. Adage Capital Partners GP L.L.C. now owns 895,790 shares of the technology company’s stock valued at $125,679,000 after buying an additional 76,100 shares during the period. Evergreen Capital Management LLC grew its position in International Business Machines by 1.3% during the third quarter. Evergreen Capital Management LLC now owns 11,878 shares of the technology company’s stock worth $1,666,000 after buying an additional 152 shares in the last quarter. Finally, Legacy Advisors LLC acquired a new position in International Business Machines in the 3rd quarter valued at approximately $731,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Wedbush increased their price objective on International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of International Business Machines in a research note on Wednesday, May 22nd. The Goldman Sachs Group started coverage on shares of International Business Machines in a research report on Monday, June 24th. They set a “buy” rating and a $200.00 target price for the company. Finally, Bank of America upped their price objective on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $182.53.

International Business Machines Stock Down 0.9 %

Shares of NYSE:IBM traded down $1.59 during trading on Wednesday, hitting $175.71. 1,649,049 shares of the company’s stock traded hands, compared to its average volume of 4,520,576. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32. The company has a 50-day moving average price of $169.72 and a 200-day moving average price of $176.76. International Business Machines Co. has a 52 week low of $131.55 and a 52 week high of $199.18. The company has a market cap of $161.41 billion, a price-to-earnings ratio of 19.98, a price-to-earnings-growth ratio of 4.27 and a beta of 0.71.

International Business Machines (NYSE:IBM) last released its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The company’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.36 EPS. As a group, research analysts forecast that International Business Machines Co. will post 9.9 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.80%. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date of this dividend was Thursday, May 9th. International Business Machines’s dividend payout ratio is currently 75.65%.

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.