Invesco LLC Buys New Stake in International Business Machines Co. (NYSE:IBM)

Invesco LLC purchased a new stake in International Business Machines Co. (NYSE:IBM) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 964 shares of the technology company’s stock, valued at approximately $213,000.

Several other hedge funds also recently added to or reduced their stakes in IBM. Norden Group LLC boosted its position in International Business Machines by 16.3% in the 1st quarter. Norden Group LLC now owns 5,880 shares of the technology company’s stock valued at $1,123,000 after buying an additional 824 shares during the last quarter. Resonant Capital Advisors LLC lifted its holdings in International Business Machines by 16.9% during the 1st quarter. Resonant Capital Advisors LLC now owns 2,381 shares of the technology company’s stock worth $455,000 after buying an additional 344 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position in shares of International Business Machines by 11.1% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 22,880 shares of the technology company’s stock worth $4,369,000 after acquiring an additional 2,279 shares in the last quarter. BNP Paribas bought a new stake in shares of International Business Machines in the 1st quarter valued at approximately $1,196,000. Finally, Alliance Wealth Management Group raised its position in shares of International Business Machines by 47.8% during the 1st quarter. Alliance Wealth Management Group now owns 2,077 shares of the technology company’s stock valued at $397,000 after acquiring an additional 672 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on IBM. Stifel Nicolaus boosted their target price on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a research report on Wednesday, October 2nd. Jefferies Financial Group lifted their target price on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. The Goldman Sachs Group increased their price target on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, Morgan Stanley lowered their price objective on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $208.12.

International Business Machines Price Performance

International Business Machines stock traded up $1.53 during trading hours on Friday, hitting $208.25. 3,334,308 shares of the company traded hands, compared to its average volume of 4,270,505. International Business Machines Co. has a 1-year low of $144.84 and a 1-year high of $237.37. The firm has a market cap of $191.83 billion, a P/E ratio of 30.31, a P/E/G ratio of 4.28 and a beta of 0.70. The firm’s 50-day simple moving average is $216.84 and its two-hundred day simple moving average is $191.24. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. The business had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter last year, the business earned $2.20 earnings per share. As a group, analysts forecast that International Business Machines Co. will post 10.11 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be issued a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 3.21%. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

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.