New England Research & Management Inc. Purchases 2,321 Shares of International Business Machines Co. (NYSE:IBM)

New England Research & Management Inc. increased its stake in shares of International Business Machines Co. (NYSE:IBM) by 28.6% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 10,440 shares of the technology company’s stock after acquiring an additional 2,321 shares during the period. New England Research & Management Inc.’s holdings in International Business Machines were worth $1,994,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Naples Money Management LLC bought a new position in shares of International Business Machines during the 4th quarter worth approximately $28,000. Creekmur Asset Management LLC bought a new position in International Business Machines in the 4th quarter valued at $29,000. Ables Iannone Moore & Associates Inc. bought a new position in International Business Machines in the 4th quarter valued at $31,000. Financial Synergies Wealth Advisors Inc. raised its position in International Business Machines by 164.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after purchasing an additional 123 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in International Business Machines by 54.6% in the 1st quarter. Versant Capital Management Inc now owns 218 shares of the technology company’s stock valued at $42,000 after purchasing an additional 77 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE IBM opened at $172.95 on Friday. The business’s 50 day moving average price is $169.95 and its two-hundred day moving average price is $176.40. The company has a market cap of $158.87 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 4.21 and a beta of 0.72. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. International Business Machines Co. has a twelve month low of $131.55 and a twelve month high of $199.18.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The business’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.36 earnings per share. On average, analysts predict that International Business Machines Co. will post 9.9 EPS for the current year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were given a $1.67 dividend. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date was Thursday, May 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.86%. International Business Machines’s dividend payout ratio is presently 75.65%.

Analyst Ratings Changes

Several equities analysts have issued reports on IBM shares. The Goldman Sachs Group started coverage on International Business Machines in a research report on Monday, June 24th. They issued a “buy” rating and a $200.00 price objective for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of International Business Machines in a research report on Wednesday, May 22nd. Wedbush lifted their price objective on International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Morgan Stanley lowered their target price on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Finally, Bank of America lifted their target price on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $182.53.

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.