Zurcher Kantonalbank Zurich Cantonalbank Buys 23,709 Shares of International Business Machines Corporation (NYSE:IBM)

Key Points

• Zurcher Kantonalbank increased its stake in IBM by 4.3% during the first quarter, owning approximately 569,592 shares valued at $141.6 million.
• IBM's quarterly earnings report showed $2.80 EPS, exceeding expectations, with revenue of $16.98 billion, a 7.7% increase year-over-year.
• The company recently raised its quarterly dividend to $1.68, reflecting a 2.59% yield and indicating ongoing financial stability despite a high payout ratio of 109.09%.

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 4.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 569,592 shares of the technology company's stock after purchasing an additional 23,709 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.06% of International Business Machines worth $141,635,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in IBM. Christopher J. Hasenberg Inc bought a new position in shares of International Business Machines during the first quarter worth about $27,000. Measured Risk Portfolios Inc. acquired a new stake in International Business Machines during the 4th quarter valued at approximately $43,000. Park Square Financial Group LLC bought a new position in International Business Machines during the 4th quarter worth approximately $43,000. Mascagni Wealth Management Inc. acquired a new position in shares of International Business Machines in the 4th quarter worth approximately $43,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of International Business Machines in the 1st quarter valued at $45,000. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Stock Performance

IBM traded down $0.81 during trading hours on Friday, hitting $259.70. The stock had a trading volume of 7,751,998 shares, compared to its average volume of 4,613,670. International Business Machines Corporation has a 1 year low of $181.81 and a 1 year high of $296.16. The company's fifty day simple moving average is $277.69 and its 200 day simple moving average is $256.27. The stock has a market cap of $241.36 billion, a PE ratio of 42.16, a price-to-earnings-growth ratio of 4.01 and a beta of 0.69. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00.

International Business Machines (NYSE:IBM - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.65 by $0.15. The firm had revenue of $16.98 billion during the quarter, compared to the consensus estimate of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The company's revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company earned $2.43 earnings per share. Equities analysts anticipate 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 declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a $1.68 dividend. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.59%. International Business Machines's dividend payout ratio (DPR) is presently 109.09%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. KGI Securities set a $242.00 target price on International Business Machines and gave the stock a "hold" rating in a report on Thursday, April 24th. Morgan Stanley dropped their price objective on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. The Goldman Sachs Group increased their target price on International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. 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, Bank of America decreased their price objective on International Business Machines from $320.00 to $310.00 and set a "buy" rating for the company in a report on Thursday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.