Notis McConarty Edward Invests $261,000 in International Business Machines Corporation (NYSE:IBM)

Notis McConarty Edward bought a new position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,050 shares of the technology company's stock, valued at approximately $261,000.

A number of other hedge funds have also bought and sold shares of the company. Geode Capital Management LLC increased its stake in International Business Machines by 2.1% in the fourth 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 in the last quarter. Capital World Investors increased its stake in International Business Machines by 413.5% in the fourth 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 in the last quarter. Northern Trust Corp increased its stake in International Business Machines by 18.6% in 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 purchasing an additional 1,704,209 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in International Business Machines by 9.8% in the fourth 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 in the last quarter. Finally, Norges Bank bought a new stake in International Business Machines in the fourth quarter valued at $1,236,176,000. Institutional investors own 58.96% of the company's stock.

International Business Machines Stock Performance

Shares of IBM stock traded down $0.81 during trading on Friday, reaching $259.70. 7,751,998 shares of the company's stock traded hands, compared to its average volume of 4,403,863. The company has a market capitalization of $241.36 billion, a P/E ratio of 42.16, a PEG ratio of 5.52 and a beta of 0.69. The company has a current ratio of 0.91, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The firm's 50-day moving average is $277.69 and its 200 day 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.

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. The company had revenue of $16.98 billion for the quarter, compared to analysts' expectations 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 was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.43 EPS. Equities research analysts expect that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The company also recently announced 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 represents a $6.72 dividend on an annualized basis and a 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 is 109.09%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Wall Street Zen raised shares of International Business Machines from a "hold" rating to a "buy" rating in a research note on Saturday. Morgan Stanley decreased their price target on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. JPMorgan Chase & Co. boosted their target price on shares of International Business Machines from $244.00 to $290.00 and gave the stock a "neutral" rating in a research report on Thursday. Royal Bank Of Canada boosted their target price on shares of International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Finally, Melius Research raised shares of International Business Machines to a "strong-buy" rating in a research report on Monday, July 7th. 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 issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $268.75.

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.