Van ECK Associates Corp Boosts Stake in International Business Machines Co. (NYSE:IBM)

Van ECK Associates Corp boosted its position in shares of International Business Machines Co. (NYSE:IBM) by 6.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 138,801 shares of the technology company’s stock after acquiring an additional 7,837 shares during the quarter. Van ECK Associates Corp’s holdings in International Business Machines were worth $22,701,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. RMR Wealth Builders increased its position in International Business Machines by 2.7% in the third quarter. RMR Wealth Builders now owns 3,375 shares of the technology company’s stock worth $474,000 after buying an additional 90 shares in the last quarter. Vicus Capital boosted its stake in shares of International Business Machines by 33.7% in the third quarter. Vicus Capital now owns 3,171 shares of the technology company’s stock worth $445,000 after acquiring an additional 800 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in shares of International Business Machines by 5.3% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 227,716 shares of the technology company’s stock worth $31,949,000 after acquiring an additional 11,501 shares during the period. Dakota Wealth Management boosted its stake in shares of International Business Machines by 36.9% in the third quarter. Dakota Wealth Management now owns 5,536 shares of the technology company’s stock worth $777,000 after acquiring an additional 1,492 shares during the period. Finally, Signature Wealth Management Partners LLC boosted its stake in shares of International Business Machines by 5.3% in the third quarter. Signature Wealth Management Partners LLC now owns 4,006 shares of the technology company’s stock worth $562,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on IBM shares. Bank of America upped their price objective on International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. JPMorgan Chase & Co. dropped their price objective on International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Sanford C. Bernstein upped their price objective on International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research note on Thursday, March 7th. Royal Bank of Canada increased their price target on International Business Machines from $179.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Finally, Evercore ISI raised International Business Machines from an “in-line” rating to an “outperform” rating and increased their price target for the company from $165.00 to $200.00 in a research note on Friday, January 19th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, International Business Machines has an average rating of “Hold” and an average price target of $184.08.

International Business Machines Trading Down 0.7 %

Shares of IBM stock opened at $166.19 on Wednesday. International Business Machines Co. has a 1 year low of $120.55 and a 1 year high of $199.18. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09. The stock’s 50 day simple moving average is $186.85 and its two-hundred day simple moving average is $170.91. The company has a market cap of $152.35 billion, a PE ratio of 18.82, a price-to-earnings-growth ratio of 4.10 and a beta of 0.70.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. During the same period in the prior year, the business posted $1.36 earnings per share. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. Research analysts predict that International Business Machines Co. will post 9.98 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be issued a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 4.02%. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio is presently 75.20%.

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.