Terra Nova Asset Management LLC Has $2.35 Million Position in International Business Machines Co. (NYSE:IBM)

Terra Nova Asset Management LLC grew its position in International Business Machines Co. (NYSE:IBM) by 25.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,632 shares of the technology company’s stock after buying an additional 2,144 shares during the quarter. International Business Machines accounts for about 1.7% of Terra Nova Asset Management LLC’s portfolio, making the stock its 25th largest holding. Terra Nova Asset Management LLC’s holdings in International Business Machines were worth $2,351,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Armbruster Capital Management Inc. increased its position in International Business Machines by 2.3% in the 2nd quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company’s stock valued at $432,000 after acquiring an additional 56 shares during the period. Aspect Partners LLC boosted its stake in International Business Machines by 11.2% during the third quarter. Aspect Partners LLC now owns 554 shares of the technology company’s stock worth $122,000 after acquiring an additional 56 shares in the last quarter. CVA Family Office LLC boosted its stake in International Business Machines by 3.3% during the second quarter. CVA Family Office LLC now owns 1,796 shares of the technology company’s stock worth $311,000 after acquiring an additional 57 shares in the last quarter. Mill Creek Capital Advisors LLC boosted its stake in International Business Machines by 5.1% during the second quarter. Mill Creek Capital Advisors LLC now owns 1,165 shares of the technology company’s stock worth $201,000 after acquiring an additional 57 shares in the last quarter. Finally, Peddock Capital Advisors LLC boosted its stake in International Business Machines by 0.6% during the second quarter. Peddock Capital Advisors LLC now owns 10,040 shares of the technology company’s stock worth $1,736,000 after acquiring an additional 58 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Price Performance

IBM traded down $1.06 during trading on Wednesday, reaching $231.90. The company’s stock had a trading volume of 348,616 shares, compared to its average volume of 4,176,359. International Business Machines Co. has a 1 year low of $135.87 and a 1 year high of $237.37. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The firm has a fifty day simple moving average of $209.64 and a two-hundred day simple moving average of $188.23. The company has a market cap of $213.02 billion, a price-to-earnings ratio of 26.34, a PEG ratio of 5.21 and a beta of 0.70.

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 net margin of 13.52% and a return on equity of 40.59%. The firm had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the previous year, the company earned $2.18 earnings per share. International Business Machines’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, analysts anticipate that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a $1.67 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 2.88%. International Business Machines’s dividend payout ratio is presently 75.65%.

Analyst Ratings Changes

IBM has been the topic of a number of recent research reports. Jefferies Financial Group raised their price objective 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. Bank of America increased their target price on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Stifel Nicolaus raised their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $200.82.

About International Business Machines

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.