Oddo BHF Asset Management Sas Boosts Position in International Business Machines Corporation $IBM

Key Points

• Oddo BHF Asset Management increased its IBM stake by 25.7% in the fourth quarter, adding 7,486 shares and bringing its total holding to 36,574 shares valued at about $10.8 million.
• IBM reported better-than-expected quarterly results, posting earnings of $1.91 per share versus estimates of $1.81 and revenue of $15.92 billion, with revenue 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 a price target of $304.17.

Oddo BHF Asset Management Sas boosted its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 25.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 36,574 shares of the technology company's stock after purchasing an additional 7,486 shares during the quarter. Oddo BHF Asset Management Sas' holdings in International Business Machines were worth $10,834,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in IBM. VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in International Business Machines by 424.6% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 260,740 shares of the technology company's stock valued at $77,234,000 after purchasing an additional 211,040 shares during the last quarter. GLOBALT Investments LLC GA boosted its position in shares of International Business Machines by 19.1% in the fourth quarter. GLOBALT Investments LLC GA now owns 18,288 shares of the technology company's stock worth $5,417,000 after buying an additional 2,930 shares during the period. Waverton Investment Management Ltd boosted its position in shares of International Business Machines by 3.3% in the third quarter. Waverton Investment Management Ltd now owns 993,743 shares of the technology company's stock worth $280,439,000 after buying an additional 32,072 shares during the period. Newbridge Financial Services Group Inc. boosted its position in shares of International Business Machines by 30.0% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 13,122 shares of the technology company's stock worth $3,887,000 after buying an additional 3,029 shares during the period. Finally, NEOS Investment Management LLC boosted its holdings in International Business Machines by 51.7% in the third quarter. NEOS Investment Management LLC now owns 114,395 shares of the technology company's stock valued at $32,278,000 after purchasing an additional 38,973 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Trading Down 1.5%

Shares of NYSE IBM opened at $268.19 on Tuesday. The stock's 50 day moving average price is $250.42 and its two-hundred day moving average price is $269.84. International Business Machines Corporation has a 52-week low of $212.34 and a 52-week high of $332.46. The stock has a market capitalization of $252.07 billion, a P/E ratio of 23.71, a PEG ratio of 2.82 and a beta of 0.66. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.75.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings results 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. The business had revenue of $15.92 billion for the quarter, compared to analysts' expectations of $15.60 billion. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The business's quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.60 EPS. On average, analysts anticipate 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 declared 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 represents a $6.76 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Friday, May 8th. This is a positive change from International Business Machines's previous quarterly dividend of $1.68. International Business Machines's payout ratio is currently 59.77%.

Analyst Ratings Changes

A number of research analysts recently commented on IBM shares. Weiss Ratings raised International Business Machines from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, June 9th. JPMorgan Chase & Co. reduced their price target on International Business Machines from $317.00 to $283.00 and set a "neutral" rating for the company in a report on Wednesday, March 18th. Morgan Stanley increased their price target on International Business Machines from $215.00 to $225.00 and gave the company an "equal weight" rating in a report on Thursday, April 23rd. Needham & Company LLC started coverage on International Business Machines in a report on Wednesday, June 3rd. They issued a "buy" rating for the company. Finally, Stifel Nicolaus set a $290.00 price target on International Business Machines in a report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $304.17.

About International Business Machines

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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