International Business Machines Corporation $IBM Holdings Increased by Edgestream Partners L.P.

Edgestream Partners L.P. lifted its stake in International Business Machines Corporation (NYSE:IBM) by 51.7% in the second quarter, HoldingsChannel reports. The fund owned 12,993 shares of the technology company’s stock after purchasing an additional 4,426 shares during the quarter. Edgestream Partners L.P.’s holdings in International Business Machines were worth $3,830,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in IBM. Norges Bank bought a new position in International Business Machines during the 2nd quarter valued at $2,011,122,000. GQG Partners LLC bought a new stake in shares of International Business Machines in the 1st quarter worth $1,040,057,000. Nuveen LLC acquired a new stake in shares of International Business Machines in the first quarter valued at $960,386,000. Vanguard Group Inc. boosted its stake in International Business Machines by 2.1% during the second quarter. Vanguard Group Inc. now owns 95,051,475 shares of the technology company’s stock valued at $28,019,274,000 after buying an additional 1,913,708 shares in the last quarter. Finally, Laurel Wealth Advisors LLC boosted its stake in International Business Machines by 27,928.2% during the second quarter. Laurel Wealth Advisors LLC now owns 1,903,116 shares of the technology company’s stock valued at $561,001,000 after buying an additional 1,896,326 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on IBM. UBS Group boosted their price target on shares of International Business Machines from $200.00 to $210.00 and gave the stock a “sell” rating in a research report on Thursday, October 23rd. Royal Bank Of Canada lowered their price objective on shares of International Business Machines from $315.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, October 23rd. Weiss Ratings raised shares of International Business Machines from a “hold (c+)” rating to a “buy (b)” rating in a research note on Saturday, October 25th. Stifel Nicolaus reduced their target price on shares of International Business Machines from $310.00 to $295.00 and set a “buy” rating for the company in a report on Thursday, October 23rd. Finally, Jefferies Financial Group upped their price target on International Business Machines from $280.00 to $305.00 and gave the company a “hold” rating in a report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $291.08.

International Business Machines Stock Performance

Shares of IBM opened at $302.97 on Thursday. The company has a 50-day moving average of $295.92 and a two-hundred day moving average of $275.86. The stock has a market cap of $283.19 billion, a price-to-earnings ratio of 36.24, a PEG ratio of 3.04 and a beta of 0.69. 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 Corporation has a one year low of $214.50 and a one year high of $324.90.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 22nd. The technology company reported $2.65 EPS for the quarter, beating 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 business 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 earned $2.30 EPS. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. On average, equities research analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

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

International Business Machines Company 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.