MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 27,451 Shares of International Business Machines Corporation $IBM

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of International Business Machines Corporation (NYSE:IBM) by 5.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 520,943 shares of the technology company’s stock after acquiring an additional 27,451 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in International Business Machines were worth $153,511,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Diversify Wealth Management LLC raised its position in shares of International Business Machines by 9.5% during the second quarter. Diversify Wealth Management LLC now owns 19,252 shares of the technology company’s stock worth $5,675,000 after purchasing an additional 1,678 shares during the period. Diversify Advisory Services LLC lifted its holdings in shares of International Business Machines by 43.9% in the second quarter. Diversify Advisory Services LLC now owns 10,345 shares of the technology company’s stock valued at $3,049,000 after purchasing an additional 3,154 shares in the last quarter. Napa Wealth Management purchased a new position in shares of International Business Machines during the second quarter valued at approximately $1,515,000. Alliancebernstein L.P. grew its holdings in International Business Machines by 7.3% during the second quarter. Alliancebernstein L.P. now owns 1,591,646 shares of the technology company’s stock worth $469,185,000 after buying an additional 108,359 shares in the last quarter. Finally, Seven Mile Advisory raised its position in International Business Machines by 6.2% in the 2nd quarter. Seven Mile Advisory now owns 1,785 shares of the technology company’s stock valued at $526,000 after buying an additional 104 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of analyst reports. Wall Street Zen raised shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Sunday, October 26th. Bank of America upped their price objective on shares of International Business Machines from $310.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. BMO Capital Markets increased their price objective on shares of International Business Machines from $300.00 to $305.00 and gave the company a “market perform” rating in a research note on Thursday, October 23rd. Jefferies Financial Group boosted their target price on International Business Machines from $280.00 to $305.00 and gave the stock a “hold” rating in a research note on Tuesday, October 21st. Finally, Royal Bank Of Canada decreased their price target on International Business Machines from $315.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $293.38.

International Business Machines Trading Down 0.7%

Shares of IBM stock opened at $310.53 on Friday. The stock has a market capitalization of $290.26 billion, a price-to-earnings ratio of 37.14, a PEG ratio of 3.11 and a beta of 0.69. The company’s fifty day simple moving average is $299.06 and its two-hundred day simple moving average is $277.74. International Business Machines Corporation has a 1 year low of $214.50 and a 1 year high of $324.90. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.93 and a quick ratio of 0.89.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, October 22nd. The technology company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.20. International Business Machines had a net margin of 12.09% and a return on equity of 37.76%. The company had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.10 billion. During the same period in the previous year, the business earned $2.30 earnings per share. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. As a group, analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Monday, November 10th were issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Monday, November 10th. International Business Machines’s dividend payout ratio (DPR) is currently 80.38%.

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.