Railway Pension Investments Ltd Buys New Position in International Business Machines Co. (NYSE:IBM)

Railway Pension Investments Ltd bought a new position in International Business Machines Co. (NYSE:IBM) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 127,400 shares of the technology company’s stock, valued at approximately $24,328,000.

Several other institutional investors have also recently added to or reduced their stakes in IBM. FPC Investment Advisory Inc. acquired a new stake in International Business Machines in the first quarter worth $26,000. ESL Trust Services LLC bought a new stake in International Business Machines in the 1st quarter valued at about $28,000. Naples Money Management LLC acquired a new position in 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 fourth quarter worth approximately $29,000. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in shares of International Business Machines during the fourth quarter valued at approximately $31,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on IBM. Jefferies Financial Group boosted their price target on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. dropped their price target on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Morgan Stanley decreased their price objective on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. BNP Paribas initiated coverage on International Business Machines in a report on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 target price on the stock. Finally, The Goldman Sachs Group initiated coverage on International Business Machines in a report on Monday, June 24th. They set a “buy” rating and a $200.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, International Business Machines presently has an average rating of “Hold” and an average price target of $184.93.

International Business Machines Stock Performance

Shares of IBM stock traded down $0.54 during trading hours on Friday, hitting $189.12. 4,548,824 shares of the company were exchanged, compared to its average volume of 3,874,536. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The stock has a market capitalization of $174.21 billion, a price-to-earnings ratio of 21.42, a P/E/G ratio of 4.24 and a beta of 0.71. The firm has a fifty day simple moving average of $176.64 and a 200 day simple moving average of $180.08. International Business Machines Co. has a 52-week low of $135.87 and a 52-week high of $199.18.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $15.62 billion. During the same period in the previous year, the company posted $2.18 earnings per share. The business’s revenue was up 1.9% on a year-over-year basis. Research analysts predict that International Business Machines Co. will post 10.06 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend is Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is currently 75.65%.

International Business Machines 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.