Payden & Rygel Increases Holdings in International Business Machines Corporation $IBM

Payden & Rygel raised its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 24.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 70,300 shares of the technology company’s stock after buying an additional 13,700 shares during the quarter. International Business Machines accounts for approximately 1.6% of Payden & Rygel’s investment portfolio, making the stock its 18th biggest holding. Payden & Rygel’s holdings in International Business Machines were worth $19,836,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in IBM. CFS Investment Advisory Services LLC increased its stake in International Business Machines by 0.4% in the third quarter. CFS Investment Advisory Services LLC now owns 9,359 shares of the technology company’s stock valued at $2,878,000 after purchasing an additional 34 shares during the last quarter. KPP Advisory Services LLC lifted its position in shares of International Business Machines by 1.7% during the 3rd quarter. KPP Advisory Services LLC now owns 2,069 shares of the technology company’s stock worth $584,000 after buying an additional 34 shares during the last quarter. Marco Investment Management LLC boosted its holdings in shares of International Business Machines by 0.3% in the 3rd quarter. Marco Investment Management LLC now owns 10,774 shares of the technology company’s stock valued at $3,040,000 after buying an additional 34 shares in the last quarter. MA Private Wealth grew its position in shares of International Business Machines by 1.5% in the 3rd quarter. MA Private Wealth now owns 2,242 shares of the technology company’s stock valued at $633,000 after buying an additional 34 shares during the last quarter. Finally, Ignite Planners LLC grew its position in shares of International Business Machines by 0.9% in the 3rd quarter. Ignite Planners LLC now owns 4,000 shares of the technology company’s stock valued at $1,129,000 after buying an additional 36 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on IBM shares. JPMorgan Chase & Co. boosted their price target on shares of International Business Machines from $312.00 to $317.00 and gave the company a “neutral” rating in a research report on Thursday, January 29th. Weiss Ratings reissued a “buy (b)” rating on shares of International Business Machines in a report on Thursday, January 22nd. Oppenheimer set a $380.00 target price on International Business Machines and gave the company an “outperform” rating in a research report on Thursday, January 29th. Evercore lifted their price target on International Business Machines from $330.00 to $345.00 and gave the stock an “outperform” rating in a research report on Thursday, January 29th. Finally, Argus set a $360.00 price objective on International Business Machines in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $330.07.

Insider Buying and Selling

In other news, Director David N. Farr acquired 1,000 shares of the business’s stock in a transaction on Friday, January 30th. The stock was bought at an average price of $304.00 per share, for a total transaction of $304,000.00. Following the transaction, the director owned 9,258 shares in the company, valued at $2,814,432. This represents a 12.11% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.18% of the company’s stock.

International Business Machines Stock Performance

Shares of IBM stock opened at $257.20 on Monday. The stock’s 50-day moving average price is $294.08 and its 200 day moving average price is $284.45. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 1.67. The stock has a market capitalization of $240.41 billion, a PE ratio of 23.07, a price-to-earnings-growth ratio of 2.58 and a beta of 0.69. International Business Machines Corporation has a 52-week low of $214.50 and a 52-week high of $324.90.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, January 28th. The technology company reported $4.52 earnings per share for the quarter, beating the consensus estimate of $4.33 by $0.19. The company had revenue of $19.69 billion for the quarter, compared to the consensus estimate of $19.23 billion. International Business Machines had a return on equity of 38.15% and a net margin of 15.69%.The company’s revenue was up 12.2% on a year-over-year basis. During the same period last year, the business posted $3.92 EPS. As a group, equities research analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 10th will be paid a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, February 10th. International Business Machines’s payout ratio is currently 60.27%.

International Business Machines Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.