International Business Machines Corporation (NYSE:IBM) Position Raised by Metis Global Partners LLC

Key Points

• Metis Global Partners LLC increased its position in International Business Machines Corporation (IBM) by 13.5% in Q1, now holding 70,348 shares valued at approximately $17.49 million.
• The company recently reported earnings of $2.80 per share, exceeding expectations, alongside revenues of $16.98 billion, marking a year-over-year increase of 7.7%.
• IBM declared a quarterly dividend of $1.68 per share, reflecting a slight increase from the previous dividend and a yield of 2.59%.

Metis Global Partners LLC raised its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 13.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 70,348 shares of the technology company's stock after purchasing an additional 8,384 shares during the quarter. International Business Machines comprises 0.5% of Metis Global Partners LLC's portfolio, making the stock its 28th largest holding. Metis Global Partners LLC's holdings in International Business Machines were worth $17,493,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several research analysts have issued reports on IBM shares. Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. Wall Street Zen raised International Business Machines from a "hold" rating to a "buy" rating in a research note on Saturday. Wedbush boosted their target price 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. JPMorgan Chase & Co. upped their target price on International Business Machines from $244.00 to $290.00 and gave the company a "neutral" rating in a report on Thursday. Finally, UBS Group lifted their price target on International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $268.75.

International Business Machines Stock Down 0.3%

International Business Machines stock opened at $259.70 on Friday. International Business Machines Corporation has a twelve month low of $181.81 and a twelve month high of $296.16. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 0.91. The firm has a market cap of $241.36 billion, a PE ratio of 42.16, a P/E/G ratio of 5.50 and a beta of 0.69. The firm's 50 day moving average price is $277.69 and its two-hundred day moving average price is $256.04.

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

International Business Machines Increases Dividend

The company 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 annualized dividend and a dividend yield of 2.59%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is currently 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.

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