International Business Machines Co. (NYSE:IBM) Shares Bought by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co boosted its position in shares of International Business Machines Co. (NYSE:IBM) by 0.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,118 shares of the technology company’s stock after buying an additional 685 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in International Business Machines were worth $14,548,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Arden Trust Co boosted its position in International Business Machines by 2.8% during the first quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock valued at $377,000 after purchasing an additional 54 shares during the last quarter. Armbruster Capital Management Inc. lifted its holdings in shares of International Business Machines by 2.3% during the 2nd quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company’s stock valued at $432,000 after buying an additional 56 shares during the last quarter. CVA Family Office LLC grew its stake in shares of International Business Machines by 3.3% in the 2nd quarter. CVA Family Office LLC now owns 1,796 shares of the technology company’s stock valued at $311,000 after buying an additional 57 shares in the last quarter. Chicago Partners Investment Group LLC raised its position in International Business Machines by 0.8% during the fourth quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock valued at $1,309,000 after acquiring an additional 58 shares in the last quarter. Finally, Peddock Capital Advisors LLC lifted its stake in International Business Machines by 0.6% in the second quarter. Peddock Capital Advisors LLC now owns 10,040 shares of the technology company’s stock valued at $1,736,000 after acquiring an additional 58 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Stifel Nicolaus raised their target price on International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, July 25th. BMO Capital Markets upped their price objective on shares of International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Jefferies Financial Group boosted their target price on shares of International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Finally, The Goldman Sachs Group assumed coverage on International Business Machines in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $188.60.

International Business Machines Stock Performance

NYSE IBM opened at $214.13 on Wednesday. International Business Machines Co. has a twelve month low of $135.87 and a twelve month high of $218.84. The stock has a market cap of $196.70 billion, a P/E ratio of 24.25, a PEG ratio of 4.67 and a beta of 0.70. The company’s 50-day simple moving average is $194.37 and its 200 day simple moving average is $183.78. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the prior year, the business posted $2.18 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. As a group, research analysts forecast that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s dividend payout ratio is currently 75.65%.

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.