Worth Asset Management LLC Raises Stock Holdings in International Business Machines Co. (NYSE:IBM)

Worth Asset Management LLC boosted its holdings in International Business Machines Co. (NYSE:IBM) by 13.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 867 shares of the technology company’s stock after buying an additional 101 shares during the quarter. Worth Asset Management LLC’s holdings in International Business Machines were worth $116,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Live Oak Investment Partners bought a new position in shares of International Business Machines during the 4th quarter valued at approximately $30,000. GW&K Investment Management LLC bought a new position in International Business Machines in the 1st quarter worth approximately $33,000. First Command Advisory Services Inc. bought a new position in International Business Machines in the 1st quarter worth approximately $37,000. Pacific Center for Financial Services bought a new position in International Business Machines in the 1st quarter worth approximately $41,000. Finally, Kepos Capital LP bought a new position in International Business Machines in the 4th quarter worth approximately $42,000. Hedge funds and other institutional investors own 56.16% of the company’s stock.

International Business Machines Stock Down 0.6 %

NYSE:IBM opened at $145.11 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.28. The stock has a fifty day simple moving average of $142.59 and a 200-day simple moving average of $133.71. The company has a market cap of $132.20 billion, a price-to-earnings ratio of 67.18, a price-to-earnings-growth ratio of 3.71 and a beta of 0.85. International Business Machines Co. has a twelve month low of $115.54 and a twelve month high of $153.21.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, July 19th. The technology company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.18. The firm had revenue of $15.48 billion during the quarter, compared to the consensus estimate of $15.58 billion. International Business Machines had a return on equity of 38.10% and a net margin of 3.35%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the company posted $2.31 earnings per share. Analysts anticipate that International Business Machines Co. will post 9.43 EPS for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, September 9th. Investors of record on Thursday, August 10th were issued a $1.66 dividend. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $6.64 annualized dividend and a dividend yield of 4.58%. International Business Machines’s payout ratio is currently 307.41%.

Analysts Set New Price Targets

Several research analysts have weighed in on IBM shares. Wedbush restated a “neutral” rating and issued a $140.00 price target on shares of International Business Machines in a research note on Thursday, July 20th. Stifel Nicolaus upped their price objective on International Business Machines from $140.00 to $144.00 and gave the stock a “buy” rating in a report on Thursday, July 20th. Morgan Stanley reaffirmed an “equal weight” rating and set a $135.00 price objective on shares of International Business Machines in a report on Thursday, July 20th. JPMorgan Chase & Co. assumed coverage on International Business Machines in a report on Friday, July 7th. They set a “neutral” rating and a $145.00 price objective on the stock. Finally, StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $142.91.

International Business Machines Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.