Convergence Investment Partners LLC Raises Stock Holdings in International Business Machines Corporation (NYSE:IBM)

Convergence Investment Partners LLC increased its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 29.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,898 shares of the technology company's stock after purchasing an additional 6,347 shares during the period. International Business Machines makes up 1.9% of Convergence Investment Partners LLC's portfolio, making the stock its 3rd largest holding. Convergence Investment Partners LLC's holdings in International Business Machines were worth $6,937,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Christopher J. Hasenberg Inc acquired a new stake in shares of International Business Machines in the first quarter worth $27,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of International Business Machines in the first quarter valued at approximately $45,000. Park Square Financial Group LLC purchased a new position in International Business Machines in the fourth quarter worth approximately $43,000. Park Place Capital Corp lifted its position in shares of International Business Machines by 42.6% during the 1st quarter. Park Place Capital Corp now owns 194 shares of the technology company's stock worth $48,000 after buying an additional 58 shares during the last quarter. Finally, Measured Risk Portfolios Inc. acquired a new position in International Business Machines in the 4th quarter valued at $43,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IBM has been the topic of several recent research reports. Jefferies Financial Group reiterated a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. UBS Group increased their price objective on shares of International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a report on Thursday. Wedbush increased their price objective on shares of International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. Citigroup reissued an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. Finally, JPMorgan Chase & Co. increased their target price on shares of International Business Machines from $244.00 to $290.00 and gave the stock a "neutral" rating in a research report on Thursday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $268.75.

International Business Machines Stock Down 0.3%

Shares of NYSE:IBM traded down $0.81 during mid-day trading on Friday, reaching $259.70. 7,751,998 shares of the stock were exchanged, compared to its average volume of 4,403,863. The company has a quick ratio of 0.97, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. The company has a market cap of $241.36 billion, a P/E ratio of 42.16, a P/E/G ratio of 5.52 and a beta of 0.69. International Business Machines Corporation has a one year low of $181.81 and a one year high of $296.16. The stock's 50 day simple moving average is $277.69 and its 200-day simple moving average is $255.81.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.65 by $0.15. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%. The business had revenue of $16.98 billion during the quarter, compared to the consensus estimate of $16.58 billion. During the same period last year, the company earned $2.43 earnings per share. International Business Machines's quarterly revenue was up 7.7% on a year-over-year basis. As a group, equities research analysts predict that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were given a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.59%. This is a boost from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is presently 109.09%.

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.