Forbes J M & Co. LLP Increases Stake in International Business Machines Corporation (NYSE:IBM)

Forbes J M & Co. LLP boosted its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 3.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,610 shares of the technology company's stock after purchasing an additional 2,623 shares during the period. International Business Machines comprises 1.7% of Forbes J M & Co. LLP's investment portfolio, making the stock its 18th largest position. Forbes J M & Co. LLP's holdings in International Business Machines were worth $17,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the business. Geode Capital Management LLC grew its position in shares of International Business Machines by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company's stock worth $4,589,145,000 after purchasing an additional 427,499 shares in the last quarter. Capital World Investors lifted its stake in shares of International Business Machines by 413.5% during the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock worth $2,634,577,000 after acquiring an additional 9,650,534 shares during the last quarter. Northern Trust Corp increased its holdings in International Business Machines by 18.6% during the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock worth $2,384,275,000 after purchasing an additional 1,704,209 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of International Business Machines by 9.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,112,092 shares of the technology company's stock valued at $1,783,281,000 after acquiring an additional 722,582 shares during the period. Finally, Norges Bank purchased a new position in shares of International Business Machines in the 4th quarter valued at $1,236,176,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Price Performance

IBM opened at $282.05 on Wednesday. The company's 50-day moving average price is $276.39 and its 200 day moving average price is $254.50. International Business Machines Corporation has a fifty-two week low of $181.81 and a fifty-two week high of $296.16. The firm has a market cap of $262.13 billion, a price-to-earnings ratio of 48.54, a price-to-earnings-growth ratio of 5.98 and a beta of 0.69. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09.

International Business Machines (NYSE:IBM - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The firm had revenue of $14.54 billion during the quarter, compared to analysts' expectations of $14.41 billion. During the same period last year, the firm posted $1.68 earnings per share. The firm's revenue for the quarter was up .5% compared to the same quarter last year. As a group, sell-side analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.38%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is currently 115.66%.

Analyst Ratings Changes

IBM has been the subject of a number of recent analyst reports. Citigroup reissued an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. Wedbush lifted their price target on International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research report on Friday, June 20th. BMO Capital Markets lifted their price target on International Business Machines from $260.00 to $300.00 and gave the stock a "market perform" rating in a research report on Friday, July 18th. Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Finally, The Goldman Sachs Group lifted their price target on International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $266.19.

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.

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