L2 Asset Management LLC Has $9.47 Million Stake in International Business Machines Corporation $IBM

L2 Asset Management LLC trimmed its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 11.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,109 shares of the technology company’s stock after selling 4,092 shares during the period. International Business Machines makes up 1.5% of L2 Asset Management LLC’s investment portfolio, making the stock its 9th largest holding. L2 Asset Management LLC’s holdings in International Business Machines were worth $9,465,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Lifestyle Asset Management Inc. grew its holdings in International Business Machines by 1.7% in the second quarter. Lifestyle Asset Management Inc. now owns 2,144 shares of the technology company’s stock worth $632,000 after purchasing an additional 36 shares during the period. Whelan Financial boosted its position in shares of International Business Machines by 2.4% during the 2nd quarter. Whelan Financial now owns 1,525 shares of the technology company’s stock worth $450,000 after purchasing an additional 36 shares in the last quarter. Ignite Planners LLC grew its stake in shares of International Business Machines by 0.9% in the 2nd quarter. Ignite Planners LLC now owns 3,964 shares of the technology company’s stock valued at $1,133,000 after buying an additional 36 shares during the period. Blue Edge Capital LLC increased its position in International Business Machines by 0.6% in the 1st quarter. Blue Edge Capital LLC now owns 6,776 shares of the technology company’s stock valued at $1,685,000 after buying an additional 39 shares in the last quarter. Finally, Johnson Bixby & Associates LLC raised its stake in International Business Machines by 3.3% during the 2nd quarter. Johnson Bixby & Associates LLC now owns 1,208 shares of the technology company’s stock worth $356,000 after buying an additional 39 shares during the period. Institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on IBM. Royal Bank Of Canada decreased their price objective on International Business Machines from $315.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday, October 23rd. Weiss Ratings upgraded shares of International Business Machines from a “hold (c+)” rating to a “buy (b)” rating in a research note on Saturday, October 25th. Stifel Nicolaus dropped their price objective on shares of International Business Machines from $310.00 to $295.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. Jefferies Financial Group lifted their price objective on shares of International Business Machines from $280.00 to $305.00 and gave the company a “hold” rating in a report on Tuesday, October 21st. Finally, UBS Group upped their target price on shares of International Business Machines from $200.00 to $210.00 and gave the stock a “sell” rating in a report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, International Business Machines currently has an average rating of “Moderate Buy” and an average price target of $291.08.

International Business Machines Stock Up 0.0%

IBM opened at $308.09 on Monday. International Business Machines Corporation has a fifty-two week low of $214.50 and a fifty-two week high of $324.90. The firm has a market capitalization of $287.98 billion, a P/E ratio of 36.85, a PEG ratio of 3.07 and a beta of 0.69. The company’s 50-day moving average is $296.91 and its 200 day moving average is $276.54. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.93 and a quick ratio of 0.89.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 22nd. The technology company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.45 by $0.20. International Business Machines had a net margin of 12.09% and a return on equity of 37.76%. The firm had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.10 billion. During the same quarter last year, the business posted $2.30 EPS. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. Research analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th will be given a $1.68 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $6.72 annualized dividend and a yield of 2.2%. International Business Machines’s payout ratio is currently 80.38%.

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.