Mariner LLC Grows Stock Position in International Business Machines Corporation $IBM

Key Points

• Mariner LLC increased its IBM stake by 3.6% in the fourth quarter, adding 17,948 shares to bring its total to 515,037 shares worth about $152.6 million.
• IBM reported better-than-expected quarterly results, with earnings per share of $1.91 versus estimates of $1.81 and revenue of $15.92 billion, up 9.5% year over year.
• The company also raised its quarterly dividend to $1.69 per share, while analysts currently rate the stock a consensus Moderate Buy with an average price target of $304.17.

Mariner LLC increased its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 3.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 515,037 shares of the technology company's stock after buying an additional 17,948 shares during the quarter. Mariner LLC owned about 0.06% of International Business Machines worth $152,595,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. CVA Family Office LLC raised its position in shares of International Business Machines by 1.4% during the 4th quarter. CVA Family Office LLC now owns 2,389 shares of the technology company's stock valued at $708,000 after buying an additional 33 shares during the period. Foster Group Inc. raised its position in shares of International Business Machines by 1.3% during the 4th quarter. Foster Group Inc. now owns 2,507 shares of the technology company's stock valued at $742,000 after buying an additional 33 shares during the period. New Covenant Trust Company N.A. raised its position in shares of International Business Machines by 3.8% during the 4th quarter. New Covenant Trust Company N.A. now owns 905 shares of the technology company's stock valued at $264,000 after buying an additional 33 shares during the period. McGowan Group Asset Management Inc. raised its position in shares of International Business Machines by 1.2% during the 4th quarter. McGowan Group Asset Management Inc. now owns 2,693 shares of the technology company's stock valued at $798,000 after buying an additional 33 shares during the period. Finally, Altman Advisors Inc. raised its position in shares of International Business Machines by 0.3% during the 3rd quarter. Altman Advisors Inc. now owns 9,929 shares of the technology company's stock valued at $2,802,000 after buying an additional 34 shares during the period. Hedge funds and other institutional investors own 58.96% of the company's stock.

International Business Machines Stock Down 0.2%

International Business Machines stock opened at $271.77 on Monday. International Business Machines Corporation has a twelve month low of $212.34 and a twelve month high of $332.46. The stock's fifty day simple moving average is $250.02 and its 200-day simple moving average is $270.10. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75. The firm has a market capitalization of $255.43 billion, a P/E ratio of 24.03, a P/E/G ratio of 2.82 and a beta of 0.66.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The technology company reported $1.91 earnings per share for the quarter, topping analysts' consensus estimates of $1.81 by $0.10. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The business had revenue of $15.92 billion for the quarter, compared to analyst estimates of $15.60 billion. During the same quarter in the prior year, the company earned $1.60 earnings per share. The company's revenue was up 9.5% on a year-over-year basis. As a group, equities analysts expect that International Business Machines Corporation will post 12.38 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were given a dividend of $1.69 per share. This is an increase from International Business Machines's previous quarterly dividend of $1.68. This represents a $6.76 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, May 8th. International Business Machines's dividend payout ratio is currently 59.77%.

Analysts Set New Price Targets

A number of brokerages have issued reports on IBM. Needham & Company LLC began coverage on International Business Machines in a research report on Wednesday, June 3rd. They issued a "buy" rating on the stock. Weiss Ratings raised International Business Machines from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, June 9th. BMO Capital Markets cut their target price on International Business Machines from $290.00 to $270.00 and set a "market perform" rating on the stock in a research report on Thursday, April 23rd. HSBC raised International Business Machines from a "reduce" rating to a "hold" rating and boosted their target price for the company from $218.00 to $231.00 in a research report on Tuesday, April 28th. Finally, DZ Bank raised International Business Machines from a "hold" rating to a "buy" rating and set a $295.00 target price on the stock in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $304.17.

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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