Assenagon Asset Management S.A. Increases Holdings in International Business Machines Corporation $IBM

Assenagon Asset Management S.A. increased its position in International Business Machines Corporation (NYSE:IBM) by 144.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 663,011 shares of the technology company’s stock after buying an additional 391,466 shares during the quarter. Assenagon Asset Management S.A.’s holdings in International Business Machines were worth $187,075,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of IBM. Vanguard Group Inc. grew its holdings in shares of International Business Machines by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 95,051,475 shares of the technology company’s stock valued at $28,019,274,000 after purchasing an additional 1,913,708 shares during the last quarter. State Street Corp boosted its position in International Business Machines by 0.3% during the second quarter. State Street Corp now owns 54,536,963 shares of the technology company’s stock valued at $16,076,406,000 after buying an additional 147,721 shares during the period. Geode Capital Management LLC grew its stake in shares of International Business Machines by 1.9% during the second quarter. Geode Capital Management LLC now owns 21,936,235 shares of the technology company’s stock valued at $6,444,527,000 after buying an additional 400,131 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of International Business Machines by 6.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,636,725 shares of the technology company’s stock worth $2,147,608,000 after buying an additional 524,633 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of International Business Machines by 3.4% in the 2nd quarter. Legal & General Group Plc now owns 7,126,503 shares of the technology company’s stock valued at $2,100,751,000 after acquiring an additional 234,318 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Down 1.7%

Shares of NYSE:IBM opened at $303.44 on Wednesday. The firm has a market capitalization of $283.63 billion, a P/E ratio of 36.30, a P/E/G ratio of 3.07 and a beta of 0.69. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.89 and a current ratio of 0.93. The stock has a 50 day moving average price of $300.05 and a 200-day moving average price of $278.99. 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 issued its quarterly earnings results on Wednesday, October 22nd. The technology company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.20. The company had revenue of $16.33 billion for the quarter, compared to analysts’ expectations of $16.10 billion. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.30 earnings per share. As a group, equities research analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Monday, November 10th were paid a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Monday, November 10th. International Business Machines’s dividend payout ratio (DPR) is presently 80.38%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. UBS Group restated a “sell” rating on shares of International Business Machines in a research report on Tuesday, December 9th. Morgan Stanley cut their target price on shares of International Business Machines from $256.00 to $252.00 and set an “equal weight” rating on the stock in a report on Thursday, October 23rd. BMO Capital Markets lifted their target price on shares of International Business Machines from $300.00 to $305.00 and gave the stock a “market perform” rating in a research note on Thursday, October 23rd. Wall Street Zen raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Sunday, October 26th. Finally, Bank of America boosted their price objective on shares of International Business Machines from $310.00 to $315.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $293.38.

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.