State Street Corp Acquires 147,721 Shares of International Business Machines Corporation $IBM

State Street Corp boosted its holdings in International Business Machines Corporation (NYSE:IBM) by 0.3% during the second quarter, Holdings Channel reports. The fund owned 54,536,963 shares of the technology company’s stock after purchasing an additional 147,721 shares during the period. International Business Machines makes up 0.6% of State Street Corp’s holdings, making the stock its 23rd largest holding. State Street Corp owned 0.06% of International Business Machines worth $16,076,406,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Family CFO Inc acquired a new position in shares of International Business Machines in the second quarter valued at approximately $25,000. Winnow Wealth LLC bought a new stake in shares of International Business Machines in the second quarter valued at about $27,000. Dagco Inc. bought a new position in International Business Machines during the first quarter worth about $31,000. Silicon Valley Capital Partners raised its stake in International Business Machines by 322.6% in the 1st quarter. Silicon Valley Capital Partners now owns 131 shares of the technology company’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. Finally, Highline Wealth Partners LLC boosted its holdings in International Business Machines by 85.0% in the 2nd quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company’s stock valued at $33,000 after purchasing an additional 51 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

IBM has been the subject of several recent research reports. UBS Group boosted their price target on International Business Machines from $200.00 to $210.00 and gave the company a “sell” rating in a research note on Thursday, October 23rd. Jefferies Financial Group raised their price target on International Business Machines from $280.00 to $305.00 and gave the stock a “hold” rating in a research report on Tuesday, October 21st. Stifel Nicolaus reduced their price objective on shares of International Business Machines from $310.00 to $295.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. Weiss Ratings upgraded shares of International Business Machines from a “hold (c+)” rating to a “buy (b)” rating in a research report on Saturday, October 25th. Finally, Sanford C. Bernstein initiated coverage on shares of International Business Machines in a research report on Monday, September 15th. They set a “market perform” rating and a $280.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $291.08.

International Business Machines Price Performance

Shares of IBM opened at $309.26 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 1.97. The stock has a market cap of $289.07 billion, a PE ratio of 36.99, a PEG ratio of 3.07 and a beta of 0.69. International Business Machines Corporation has a 12-month low of $214.50 and a 12-month high of $324.90. The business has a 50-day simple moving average of $297.50 and a two-hundred day simple moving average of $276.90.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 22nd. The technology company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.20. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.The company had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.10 billion. During the same quarter in the prior year, the firm posted $2.30 earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year. Analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Monday, November 10th will be issued a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Monday, November 10th. International Business Machines’s dividend payout ratio is presently 80.38%.

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.