International Business Machines Corporation (NYSE:IBM) Shares Bought by Fagan Associates Inc.

Fagan Associates Inc. grew its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 312.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,920 shares of the technology company's stock after acquiring an additional 6,000 shares during the period. Fagan Associates Inc.'s holdings in International Business Machines were worth $1,969,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in International Business Machines by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company's stock valued at $20,189,023,000 after purchasing an additional 1,539,888 shares during the period. Geode Capital Management LLC boosted its stake in International Business Machines by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company's stock valued at $4,589,145,000 after purchasing an additional 427,499 shares during the period. Capital World Investors boosted its stake in 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 purchasing an additional 9,650,534 shares during the period. Northern Trust Corp boosted its stake 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 valued at $2,384,275,000 after purchasing an additional 1,704,209 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in International Business Machines by 9.8% during 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 purchasing an additional 722,582 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on IBM shares. Bank of America boosted their price target on shares of International Business Machines from $290.00 to $320.00 and gave the stock a "buy" rating in a research report on Wednesday, June 18th. Wedbush boosted their price target on shares of International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research report on Friday, June 20th. Melius Research upgraded shares of International Business Machines to a "strong-buy" rating in a research report on Monday, July 7th. UBS Group reaffirmed a "sell" rating and set a $195.00 target price (up previously from $170.00) on shares of International Business Machines in a research note on Wednesday, July 9th. Finally, Royal Bank Of Canada raised their target price on International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $266.19.

International Business Machines Stock Down 0.0%

IBM stock traded down $0.06 during trading hours on Monday, hitting $285.81. The company's stock had a trading volume of 381,734 shares, compared to its average volume of 4,436,611. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. The company has a market capitalization of $265.63 billion, a PE ratio of 49.21, a price-to-earnings-growth ratio of 6.00 and a beta of 0.69. International Business Machines Corporation has a 12 month low of $181.81 and a 12 month high of $296.16. The stock has a 50 day moving average price of $276.39 and a two-hundred day moving average price of $254.50.

International Business Machines (NYSE:IBM - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) 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 business had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. During the same quarter in the previous year, the firm posted $1.68 earnings per share. International Business Machines's revenue was up .5% compared to the same quarter last year. On average, equities research analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were issued a dividend of $1.68 per share. This is an increase from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.35%. International Business Machines's dividend payout ratio (DPR) is currently 115.66%.

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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