Counterpoint Mutual Funds LLC Buys New Position in International Business Machines Corporation $IBM

Counterpoint Mutual Funds LLC bought a new position in shares of International Business Machines Corporation (NYSE:IBM) in the 1st quarter, Holdings Channel reports. The fund bought 17,415 shares of the technology company’s stock, valued at approximately $4,221,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in shares of International Business Machines by 424.6% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 260,740 shares of the technology company’s stock worth $77,234,000 after acquiring an additional 211,040 shares during the last quarter. GLOBALT Investments LLC GA boosted its stake in International Business Machines by 19.1% during the 4th quarter. GLOBALT Investments LLC GA now owns 18,288 shares of the technology company’s stock valued at $5,417,000 after purchasing an additional 2,930 shares during the last quarter. Newbridge Financial Services Group Inc. increased its holdings in International Business Machines by 30.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 13,122 shares of the technology company’s stock worth $3,887,000 after purchasing an additional 3,029 shares in the last quarter. Rice Partnership LLC bought a new stake in International Business Machines during the 4th quarter worth approximately $3,317,000. Finally, Sage Investment Advisers LLC purchased a new stake in shares of International Business Machines in the fourth quarter worth approximately $4,101,000. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Trading Down 0.2%

NYSE IBM opened at $288.95 on Friday. The stock has a market capitalization of $271.58 billion, a price-to-earnings ratio of 25.55, a PEG ratio of 3.00 and a beta of 0.68. The business’s fifty day moving average is $256.99 and its 200-day moving average is $266.36. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.80 and a quick ratio of 0.76. International Business Machines Corporation has a one year low of $212.34 and a one year high of $332.46.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.10. The business had revenue of $15.92 billion during the quarter, compared to the consensus estimate of $15.60 billion. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.60 earnings per share. Equities research analysts predict that International Business Machines Corporation will post 12.4 EPS for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were paid a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Friday, May 8th. This is an increase from International Business Machines’s previous quarterly dividend of $1.68. International Business Machines’s dividend payout ratio (DPR) is 59.77%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IBM. Piper Sandler upgraded International Business Machines to an “overweight” rating in a report on Tuesday, June 23rd. BMO Capital Markets reduced their target price on shares of International Business Machines from $290.00 to $270.00 and set a “market perform” rating for the company in a research note on Thursday, April 23rd. Morgan Stanley upgraded shares of International Business Machines from an “equal weight” rating to an “overweight” rating in a report on Tuesday, June 23rd. Susquehanna began coverage on shares of International Business Machines in a research report on Tuesday, June 23rd. They set a “neutral” rating on the stock. Finally, Wedbush set a $350.00 price objective on shares of International Business Machines in a research report on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $306.76.

International Business Machines Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.