Catalina Capital Group LLC Acquires 801 Shares of International Business Machines Co. (NYSE:IBM)

Catalina Capital Group LLC lifted its position in International Business Machines Co. (NYSE:IBM) by 34.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,131 shares of the technology company’s stock after purchasing an additional 801 shares during the period. Catalina Capital Group LLC’s holdings in International Business Machines were worth $541,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. FPC Investment Advisory Inc. purchased a new position in shares of International Business Machines during the first quarter worth $26,000. ESL Trust Services LLC purchased a new stake in shares of International Business Machines in the first quarter valued at about $28,000. Creekmur Asset Management LLC purchased a new stake in shares of International Business Machines in the 4th quarter valued at approximately $29,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of International Business Machines during the 4th quarter worth approximately $31,000. Finally, Financial Synergies Wealth Advisors Inc. lifted its holdings in International Business Machines by 164.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after acquiring an additional 123 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on IBM shares. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. JPMorgan Chase & Co. lowered their target price on International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Jefferies Financial Group raised their target price on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Wedbush increased their target price on shares of International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Finally, Royal Bank of Canada boosted their price target on International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. 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’s stock. According to MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and an average price target of $184.93.

International Business Machines Trading Up 0.0 %

Shares of International Business Machines stock traded up $0.07 during trading on Friday, hitting $196.03. 2,320,477 shares of the company were exchanged, compared to its average volume of 4,278,521. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $199.18. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The firm has a market capitalization of $180.07 billion, a P/E ratio of 22.20, a price-to-earnings-growth ratio of 4.24 and a beta of 0.71. The firm’s fifty day moving average price is $183.79 and its 200 day moving average price is $181.44.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. The company had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. During the same period in the previous year, the company posted $2.18 earnings per share. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, sell-side analysts expect 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be paid a $1.67 dividend. The ex-dividend date is Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 3.41%. International Business Machines’s dividend payout ratio is 75.65%.

International Business Machines Company 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.