TIAA Trust National Association Increases Holdings in International Business Machines Co. (NYSE:IBM)

TIAA Trust National Association raised its stake in shares of International Business Machines Co. (NYSE:IBM) by 3.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 99,745 shares of the technology company’s stock after buying an additional 3,436 shares during the period. TIAA Trust National Association’s holdings in International Business Machines were worth $19,047,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of International Business Machines by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after purchasing an additional 5,546,855 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake 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 worth $1,048,631,000 after purchasing an additional 61,028 shares in the last quarter. Norges Bank purchased a new stake in shares of International Business Machines in the 4th quarter worth $1,019,009,000. Dimensional Fund Advisors LP increased its stake in shares of International Business Machines by 2.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,500,184 shares of the technology company’s stock worth $736,015,000 after purchasing an additional 97,482 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of International Business Machines by 15,439.1% in the 4th 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 in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Price Performance

Shares of IBM traded down $1.97 during midday trading on Friday, hitting $183.25. 3,816,039 shares of the company traded hands, compared to its average volume of 3,452,805. The firm has a 50 day moving average of $172.83 and a 200-day moving average of $178.30. International Business Machines Co. has a 52 week low of $135.87 and a 52 week high of $199.18. The stock has a market cap of $168.33 billion, a price-to-earnings ratio of 20.75, a PEG ratio of 4.52 and a beta of 0.71. 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 (NYSE:IBM) last announced its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. During the same quarter last year, the firm earned $1.36 EPS. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, analysts forecast that International Business Machines Co. will post 9.89 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were issued a $1.67 dividend. 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. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.65%. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Wall Street Analysts Forecast Growth

IBM has been the subject of a number of analyst reports. Wedbush increased their price target 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. The Goldman Sachs Group initiated coverage on International Business Machines in a research note on Monday, June 24th. They issued a “buy” rating and a $200.00 price target for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of International Business Machines in a research note on Wednesday, May 22nd. Morgan Stanley cut their price target on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Finally, Jefferies Financial Group cut their price target on International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a research note on Tuesday, April 23rd. 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $182.53.

About International Business Machines

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.