International Business Machines Co. (NYSE:IBM) Shares Bought by OV Management LLC

OV Management LLC lifted its position in shares of International Business Machines Co. (NYSE:IBM) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,108 shares of the technology company’s stock after purchasing an additional 108 shares during the period. International Business Machines comprises approximately 1.2% of OV Management LLC’s portfolio, making the stock its 25th largest position. OV Management LLC’s holdings in International Business Machines were worth $1,748,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. FPC Investment Advisory Inc. purchased a new stake in International Business Machines during the first quarter worth approximately $26,000. ESL Trust Services LLC purchased a new position in shares of International Business Machines during the first quarter worth about $28,000. Creekmur Asset Management LLC acquired a new stake in shares of International Business Machines during the fourth quarter worth about $29,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of International Business Machines in the 4th quarter valued at about $31,000. Finally, Financial Synergies Wealth Advisors Inc. grew its stake in International Business Machines by 164.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after buying an additional 123 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

NYSE IBM opened at $214.79 on Friday. The business has a 50 day moving average price of $192.83 and a 200 day moving average price of $183.40. 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 company has a market capitalization of $197.85 billion, a P/E ratio of 24.33, a PEG ratio of 4.67 and a beta of 0.70. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $216.09.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data 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 firm had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.18 EPS. Sell-side analysts expect that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Analysts Set New Price Targets

IBM has been the subject of a number of research reports. Evercore ISI boosted their price objective on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday. UBS Group increased their price target on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. BMO Capital Markets lifted their price objective on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. The Goldman Sachs Group assumed coverage on shares of International Business Machines in a research note on Monday, June 24th. They set a “buy” rating and a $200.00 target price for the company. Finally, Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $188.60.

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.