Hudson Edge Investment Partners Inc. Increases Stock Position in International Business Machines Corporation $IBM

Key Points

• Hudson Edge Investment Partners increased its IBM stake by 25.7% in the first quarter, buying 5,782 additional shares and bringing its total holdings to 28,281 shares worth about $6.86 million.
• IBM’s latest quarterly results beat expectations, with EPS of $1.91 versus the $1.81 consensus and revenue of $15.92 billion versus $15.60 billion expected; revenue also rose 9.5% year over year.
• The company raised its dividend to $1.69 per share quarterly, or $6.76 annually, while analysts remain broadly positive with a consensus rating of “Moderate Buy” and an average price target of $306.76.

Hudson Edge Investment Partners Inc. lifted its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 25.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,281 shares of the technology company's stock after buying an additional 5,782 shares during the period. Hudson Edge Investment Partners Inc.'s holdings in International Business Machines were worth $6,855,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Koshinski Asset Management Inc. raised its stake in shares of International Business Machines by 7.3% in the 1st quarter. Koshinski Asset Management Inc. now owns 5,591 shares of the technology company's stock valued at $1,355,000 after acquiring an additional 379 shares during the period. Hunter Associates Investment Management LLC boosted its position in International Business Machines by 3.9% during the 1st quarter. Hunter Associates Investment Management LLC now owns 17,798 shares of the technology company's stock worth $4,299,000 after purchasing an additional 672 shares during the period. Nixon Peabody Trust Co. increased its holdings in International Business Machines by 53.7% in the 1st quarter. Nixon Peabody Trust Co. now owns 1,274 shares of the technology company's stock valued at $309,000 after purchasing an additional 445 shares in the last quarter. QRG Capital Management Inc. raised its position in International Business Machines by 7.4% in the first quarter. QRG Capital Management Inc. now owns 162,061 shares of the technology company's stock valued at $39,282,000 after purchasing an additional 11,119 shares during the period. Finally, Lafayette Investments Inc. raised its position in International Business Machines by 11.7% in the first quarter. Lafayette Investments Inc. now owns 4,292 shares of the technology company's stock valued at $1,040,000 after purchasing an additional 450 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Down 0.2%

Shares of International Business Machines stock opened at $288.95 on Friday. International Business Machines Corporation has a 1-year low of $212.34 and a 1-year high of $332.46. The company has a market capitalization of $271.58 billion, a PE ratio of 25.55, a P/E/G ratio of 3.00 and a beta of 0.68. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.80 and a quick ratio of 0.76. The business has a 50-day moving average of $256.99 and a 200-day moving average of $266.36.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The technology company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.81 by $0.10. The business had revenue of $15.92 billion for the quarter, compared to analysts' expectations of $15.60 billion. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The company's revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.60 earnings per share. As a group, equities analysts forecast that International Business Machines Corporation will post 12.4 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th were given a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from International Business Machines's previous quarterly dividend of $1.68. International Business Machines's dividend payout ratio is currently 59.77%.

Analyst Upgrades and Downgrades

IBM has been the subject of several analyst reports. Morgan Stanley raised International Business Machines from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, June 23rd. Citigroup raised their target price on International Business Machines from $285.00 to $375.00 and gave the company a "buy" rating in a report on Tuesday, June 2nd. Barclays initiated coverage on International Business Machines in a research report on Monday, June 1st. They set an "overweight" rating and a $350.00 price target on the stock. DZ Bank upgraded International Business Machines from a "hold" rating to a "buy" rating and set a $295.00 price target for the company in a report on Friday, April 24th. Finally, Piper Sandler upgraded shares of International Business Machines to an "overweight" rating in a research note on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $306.76.

International Business Machines Company Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM's principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.

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