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

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

A number of other hedge funds and other institutional investors also recently made changes to their positions in IBM. Brighton Jones LLC raised its holdings in International Business Machines by 12.4% in the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock worth $4,619,000 after purchasing an additional 2,323 shares in the last quarter. Assetmark Inc. raised its holdings in International Business Machines by 5.7% in the fourth quarter. Assetmark Inc. now owns 40,688 shares of the technology company's stock worth $8,944,000 after purchasing an additional 2,210 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in International Business Machines by 81.5% in the fourth quarter. Proficio Capital Partners LLC now owns 2,686 shares of the technology company's stock worth $591,000 after purchasing an additional 1,206 shares in the last quarter. Callan Family Office LLC raised its holdings in International Business Machines by 615.5% in the fourth quarter. Callan Family Office LLC now owns 8,822 shares of the technology company's stock worth $1,939,000 after purchasing an additional 7,589 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC raised its holdings in International Business Machines by 82.0% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 16,178 shares of the technology company's stock worth $3,556,000 after purchasing an additional 7,290 shares in the last quarter. Institutional investors own 58.96% of the company's stock.

International Business Machines Stock Performance

NYSE:IBM traded up $4.01 on Friday, hitting $291.66. The stock had a trading volume of 1,853,289 shares, compared to its average volume of 4,231,670. The stock has a market cap of $271.06 billion, a price-to-earnings ratio of 50.20, a price-to-earnings-growth ratio of 6.13 and a beta of 0.69. 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 business's 50-day simple moving average is $268.36 and its two-hundred day simple moving average is $249.86. International Business Machines Corporation has a 52-week low of $174.45 and a 52-week high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.42 by $0.18. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The firm had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter last year, the company earned $1.68 earnings per share. The business's revenue for the quarter was up .5% compared to the same quarter last year. As a group, research analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.30%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is 115.66%.

Wall Street Analyst Weigh In

IBM has been the subject of a number of research reports. Erste Group Bank upgraded International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Morgan Stanley decreased their price objective on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Citigroup reissued an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, UBS Group reissued a "sell" rating and issued a $170.00 target price (up from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target 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.