Atalanta Sosnoff Capital LLC Increases Position in International Business Machines Corporation $IBM

Atalanta Sosnoff Capital LLC boosted its position in shares of International Business Machines Corporation (NYSE:IBM) by 9.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 107,448 shares of the technology company’s stock after buying an additional 9,076 shares during the period. Atalanta Sosnoff Capital LLC’s holdings in International Business Machines were worth $31,827,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in IBM. Brighton Jones LLC boosted its holdings in shares of International Business Machines by 12.4% during the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock worth $4,619,000 after purchasing an additional 2,323 shares during the last quarter. Sivia Capital Partners LLC increased its position in shares of International Business Machines by 10.6% during the second quarter. Sivia Capital Partners LLC now owns 1,938 shares of the technology company’s stock worth $571,000 after acquiring an additional 186 shares during the period. Jump Financial LLC purchased a new stake in shares of International Business Machines during the second quarter worth $211,000. Ieq Capital LLC increased its holdings in International Business Machines by 2.2% in the second quarter. Ieq Capital LLC now owns 38,617 shares of the technology company’s stock valued at $11,383,000 after buying an additional 843 shares during the last quarter. Finally, Vivaldi Capital Management LP increased its holdings in International Business Machines by 11.6% in the second quarter. Vivaldi Capital Management LP now owns 1,017 shares of the technology company’s stock valued at $300,000 after buying an additional 106 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on IBM shares. Royal Bank Of Canada reissued an “outperform” rating on shares of International Business Machines in a report on Thursday, May 28th. Citigroup increased their target price on shares of International Business Machines from $285.00 to $375.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Barclays started coverage on shares of International Business Machines in a research report on Monday, June 1st. They issued an “overweight” rating and a $350.00 price objective for the company. BMO Capital Markets reduced their price objective on shares of International Business Machines from $290.00 to $270.00 and set a “market perform” rating for the company in a research report on Thursday, April 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of International Business Machines from $317.00 to $283.00 and set a “neutral” rating for the company in a research note on Wednesday, March 18th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $304.17.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $271.77 on Friday. International Business Machines Corporation has a fifty-two week low of $212.34 and a fifty-two week high of $332.46. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.75. The company has a market cap of $255.43 billion, a PE ratio of 24.03, a P/E/G ratio of 2.85 and a beta of 0.67. The firm has a 50-day simple moving average of $250.02 and a 200 day simple moving average of $270.34.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, April 22nd. The technology company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.81 by $0.10. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The firm had revenue of $15.92 billion during the quarter, compared to analysts’ expectations of $15.60 billion. During the same quarter in the prior year, the firm earned $1.60 EPS. International Business Machines’s quarterly revenue was up 9.5% on a year-over-year basis. On average, sell-side analysts anticipate that International Business Machines Corporation will post 12.38 EPS for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were paid a $1.69 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 2.5%. This is an increase from International Business Machines’s previous quarterly dividend of $1.68. International Business Machines’s dividend payout ratio (DPR) is currently 59.77%.

About International Business Machines

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.