International Business Machines Co. (NYSE:IBM) Stake Boosted by Gemmer Asset Management LLC

Gemmer Asset Management LLC lifted its holdings in International Business Machines Co. (NYSE:IBM) by 31.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,510 shares of the technology company’s stock after buying an additional 360 shares during the period. Gemmer Asset Management LLC’s holdings in International Business Machines were worth $261,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of International Business Machines in the fourth quarter worth about $1,019,009,000. Vanguard Group Inc. grew its holdings in 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 valued at $16,833,642,000 after buying an additional 5,546,855 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in International Business Machines by 151.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after buying an additional 2,118,165 shares during the period. Capital Wealth Planning LLC acquired a new position in shares of International Business Machines during the fourth quarter worth approximately $172,887,000. Finally, National Bank of Canada FI boosted its position in shares of International Business Machines by 79.4% in the first quarter. National Bank of Canada FI now owns 922,496 shares of the technology company’s stock valued at $176,160,000 after acquiring an additional 408,230 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Performance

NYSE:IBM traded up $1.51 during mid-day trading on Tuesday, reaching $190.99. 2,149,688 shares of the company’s stock were exchanged, compared to its average volume of 4,383,974. International Business Machines Co. has a one year low of $135.87 and a one year high of $199.18. The firm has a market capitalization of $175.44 billion, a PE ratio of 21.53, a price-to-earnings-growth ratio of 4.24 and a beta of 0.71. The business’s fifty day simple moving average is $179.14 and its two-hundred day simple moving average is $180.84. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same period in the previous year, the firm posted $2.18 EPS. The firm’s revenue was up 1.9% on a year-over-year basis. Analysts anticipate that International Business Machines Co. will post 10.06 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be paid a dividend of $1.67 per share. The ex-dividend date is Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a yield of 3.50%. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on IBM. BNP Paribas initiated coverage on shares of International Business Machines in a research note on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 target price for the company. Stifel Nicolaus increased their price objective on shares of International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. decreased their price objective on International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $184.93.

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.