Knights of Columbus Asset Advisors LLC Has $8.99 Million Stock Position in International Business Machines Corporation (NYSE:IBM)

Key Points

• Knights of Columbus Asset Advisors LLC significantly increased its position in IBM by 233.1% during the first quarter, now holding 36,161 shares valued at approximately $8.99 million.
• IBM's recent quarterly earnings exceeded expectations, reporting $2.80 EPS against an estimate of $2.65, with revenue rising 7.7% year-over-year to $16.98 billion.
• The company has announced a dividend increase to $1.68 per share, resulting in an annual yield of 2.58% and a payout ratio of 115.66%.

Knights of Columbus Asset Advisors LLC raised its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 233.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,161 shares of the technology company's stock after purchasing an additional 25,305 shares during the quarter. Knights of Columbus Asset Advisors LLC's holdings in International Business Machines were worth $8,992,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in IBM. Christopher J. Hasenberg Inc acquired a new stake in International Business Machines during the 1st quarter valued at $27,000. Measured Risk Portfolios Inc. acquired a new stake in International Business Machines during the 4th quarter valued at $43,000. Park Square Financial Group LLC acquired a new stake in shares of International Business Machines during the fourth quarter worth $43,000. Mascagni Wealth Management Inc. acquired a new stake in shares of International Business Machines during the fourth quarter worth $43,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of International Business Machines during the first quarter worth $45,000. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Trading Down 0.3%

Shares of IBM stock traded down $0.81 during mid-day trading on Friday, reaching $259.70. 7,751,998 shares of the stock traded hands, compared to its average volume of 4,403,863. The stock's fifty day simple moving average is $277.69 and its two-hundred day simple moving average is $255.81. International Business Machines Corporation has a 1-year low of $181.81 and a 1-year high of $296.16. The company has a market cap of $241.36 billion, a price-to-earnings ratio of 42.16, a price-to-earnings-growth ratio of 5.52 and a beta of 0.69. The company has a quick ratio of 0.97, a current ratio of 0.91 and a debt-to-equity ratio of 2.00.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, beating analysts' consensus estimates of $2.65 by $0.15. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%. The firm had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. During the same period last year, the firm posted $2.43 earnings per share. The business's revenue for the quarter was up 7.7% on a year-over-year basis. On average, research analysts anticipate 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 paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis 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 dividend payout ratio (DPR) is presently 109.09%.

Analyst Ratings Changes

A number of research firms have recently weighed in on IBM. BMO Capital Markets lifted their target price on International Business Machines from $260.00 to $300.00 and gave the stock a "market perform" rating in a report on Friday, July 18th. Stifel Nicolaus lifted their target price on International Business Machines from $290.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. The Goldman Sachs Group raised 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. Wedbush raised 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. Finally, Citigroup restated an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, International Business Machines currently has a consensus rating of "Moderate Buy" and a consensus target price of $268.75.

International Business Machines Company 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.