GAMMA Investing LLC Buys 4,384,958 Shares of International Business Machines Co. (NYSE:IBM)

GAMMA Investing LLC increased its position in International Business Machines Co. (NYSE:IBM - Free Report) by 29,564.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,399,790 shares of the technology company's stock after acquiring an additional 4,384,958 shares during the period. International Business Machines comprises about 2.0% of GAMMA Investing LLC's investment portfolio, making the stock its 8th biggest holding. GAMMA Investing LLC owned 0.47% of International Business Machines worth $10,940,520,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. 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 valued at $2,634,577,000 after buying an additional 9,650,534 shares in the last quarter. Norges Bank purchased a new stake in shares of International Business Machines during the 4th quarter valued at about $1,236,176,000. Raymond James Financial Inc. purchased a new position in shares of International Business Machines in the 4th quarter worth approximately $592,746,000. Northern Trust Corp increased its position in International Business Machines by 18.6% during the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock valued at $2,384,275,000 after acquiring an additional 1,704,209 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in International Business Machines by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company's stock worth $20,189,023,000 after purchasing an additional 1,539,888 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

International Business Machines Trading Up 0.1%

Shares of NYSE IBM traded up $0.19 during midday trading on Friday, hitting $258.88. The stock had a trading volume of 9,667,740 shares, compared to its average volume of 4,225,727. The company has a fifty day moving average price of $246.37 and a 200 day moving average price of $239.81. The company has a market capitalization of $240.60 billion, a price-to-earnings ratio of 40.39, a PEG ratio of 5.81 and a beta of 0.64. International Business Machines Co. has a 1-year low of $163.53 and a 1-year high of $269.28. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.42 by $0.18. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The company had revenue of $14.54 billion during the quarter, compared to analysts' expectations of $14.41 billion. During the same period in the prior year, the business posted $1.68 EPS. The business's revenue was up .5% on a year-over-year basis. On average, analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be given a $1.68 dividend. This is a boost from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.60%. International Business Machines's dividend payout ratio (DPR) is currently 115.66%.

Insider Buying and Selling

In other news, SVP Robert David Thomas sold 26,543 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the sale, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. This represents a 37.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. BMO Capital Markets reaffirmed a "market perform" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. The Goldman Sachs Group reiterated a "buy" rating on shares of International Business Machines in a research note on Wednesday, February 5th. Wall Street Zen lowered International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. JPMorgan Chase & Co. boosted their target price on shares of International Business Machines from $233.00 to $244.00 and gave the stock a "neutral" rating in a research report on Thursday, January 30th. Finally, Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $249.06.

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.