Sumitomo Mitsui DS Asset Management Company Ltd Raises Stock Holdings in International Business Machines Corporation (NYSE:IBM)

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 5.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 345,446 shares of the technology company's stock after buying an additional 19,177 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in International Business Machines were worth $85,899,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Wealth Dimensions Group Ltd. boosted its position in International Business Machines by 1.0% during the 4th quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company's stock valued at $873,000 after buying an additional 40 shares during the period. Pallas Capital Advisors LLC raised its stake in shares of International Business Machines by 0.9% during the first quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company's stock valued at $1,195,000 after acquiring an additional 42 shares during the last quarter. Schechter Investment Advisors LLC raised its stake in shares of International Business Machines by 0.7% during the fourth quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company's stock valued at $1,396,000 after acquiring an additional 43 shares during the last quarter. Titleist Asset Management LLC boosted its holdings in shares of International Business Machines by 3.1% during the fourth quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company's stock worth $315,000 after purchasing an additional 43 shares during the period. Finally, Range Financial Group LLC grew its stake in shares of International Business Machines by 0.6% in the first quarter. Range Financial Group LLC now owns 7,350 shares of the technology company's stock worth $1,828,000 after purchasing an additional 43 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Bank of America upped their price target on International Business Machines from $290.00 to $320.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. The Goldman Sachs Group upped their target price on International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a report on Wednesday. Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Citigroup restated an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. Finally, Morgan Stanley dropped their target price on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $257.50.

International Business Machines Stock Down 1.2%

International Business Machines stock traded down $3.41 during mid-day trading on Wednesday, hitting $287.79. The company had a trading volume of 3,256,085 shares, compared to its average volume of 4,222,269. International Business Machines Corporation has a 12 month low of $173.95 and a 12 month high of $296.16. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09. The stock's 50 day moving average price is $265.09 and its two-hundred day moving average price is $248.52. The company has a market capitalization of $267.47 billion, a PE ratio of 49.53, a price-to-earnings-growth ratio of 6.11 and a beta of 0.69.

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

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were given a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.34%. 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%.

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.