Penserra Capital Management LLC Purchases 19,040 Shares of International Business Machines Corporation (NYSE:IBM)

Penserra Capital Management LLC raised its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 29.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 84,668 shares of the technology company's stock after purchasing an additional 19,040 shares during the period. Penserra Capital Management LLC's holdings in International Business Machines were worth $21,052,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MinichMacGregor Wealth Management LLC acquired a new position in shares of International Business Machines during the first quarter valued at about $396,000. Treasurer of the State of North Carolina grew its holdings in shares of International Business Machines by 0.8% during the fourth quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock valued at $108,942,000 after buying an additional 4,131 shares during the last quarter. Mufg Securities Americas Inc. acquired a new position in shares of International Business Machines during the fourth quarter valued at about $3,000,000. Magnolia Private Wealth LLC acquired a new position in shares of International Business Machines during the first quarter valued at about $239,000. Finally, Ferguson Wellman Capital Management Inc. grew its holdings in shares of International Business Machines by 0.8% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 141,448 shares of the technology company's stock valued at $35,172,000 after buying an additional 1,058 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Performance

International Business Machines stock traded up $0.38 during trading on Monday, hitting $292.35. The stock had a trading volume of 4,486,500 shares, compared to its average volume of 4,232,695. International Business Machines Corporation has a 1 year low of $174.45 and a 1 year high of $296.16. 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 stock's 50 day moving average is $268.36 and its two-hundred day moving average is $250.04. The stock has a market cap of $271.71 billion, a price-to-earnings ratio of 50.32, a price-to-earnings-growth ratio of 6.13 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $14.41 billion. During the same quarter in the previous year, the firm posted $1.68 EPS. The business's revenue for the quarter was up .5% compared to the same quarter last year. As a group, analysts predict that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were issued a dividend of $1.68 per share. This is a boost from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a yield of 2.30%. International Business Machines's payout ratio is presently 115.66%.

Wall Street Analysts Forecast Growth

IBM has been the subject of a number of analyst reports. Royal Bank Of Canada lifted their price objective on shares of International Business Machines from $276.00 to $285.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. BMO Capital Markets restated a "market perform" rating on shares of International Business Machines in a report on Wednesday, April 23rd. UBS Group restated a "sell" rating and set a $170.00 price target (up from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. KGI Securities set a $242.00 price target on shares of International Business Machines and gave the stock a "hold" rating in a report on Thursday, April 24th. Finally, 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 report on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $257.50.

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.