International Business Machines Co. (NYSE:IBM) Shares Purchased by Zhang Financial LLC
Zhang Financial LLC has increased its position in International Business Machines Co. (NYSE:IBM) by 18.2% in Q2, now holding 17,317 shares valued at nearly $2 million. Other institutions, like Arden Trust Co and Calamos Wealth Management LLC, also boosted their stakes. Analysts rated IBM with three sells, six holds, and seven buys, with a consensus price target of $143.93. As of the recent trading session, IBM shares were up $0.23, with a market cap of $127.14 billion and a P/E ratio of 22.10.
Zhang Financial LLC increased its position in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 18.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,317 shares of the technology company's stock after acquiring an additional 2,667 shares during the period. Zhang Financial LLC's holdings in International Business Machines were worth $2,995,000 at the end of the most recent quarter.
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Several other hedge funds have also recently bought and sold shares of the company. Arden Trust Co raised its position in International Business Machines by 2.8% in the 1st quarter. Arden Trust Co now owns 1,973 shares of the technology company's stock valued at $377,000 after purchasing an additional 54 shares in the last quarter. Calamos Wealth Management LLC raised its position in shares of International Business Machines by 2.8% during the 4th quarter. Calamos Wealth Management LLC now owns 2,007 shares of the technology company's stock worth $328,000 after acquiring an additional 55 shares in the last quarter. CVA Family Office LLC raised its position in shares of International Business Machines by 3.3% during the 2nd quarter. CVA Family Office LLC now owns 1,796 shares of the technology company's stock worth $311,000 after acquiring an additional 57 shares in the last quarter. Chicago Partners Investment Group LLC raised its position in shares of International Business Machines by 0.8% during the 4th quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company's stock worth $1,309,000 after acquiring an additional 58 shares in the last quarter. Finally, Peddock Capital Advisors LLC raised its position in shares of International Business Machines by 0.6% during the 2nd quarter. Peddock Capital Advisors LLC now owns 10,040 shares of the technology company's stock worth $1,736,000 after acquiring an additional 58 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.
Wall Street Analyst Weigh In
IBM has been the topic of a number of research reports. Hsbc Global Res upgraded International Business Machines to a "moderate sell" rating in a research note on Friday, July 26th. BNP Paribas initiated coverage on International Business Machines in a research note on Thursday, May 2nd. They set an "underperform" rating and a $145.00 price target on the stock. The Goldman Sachs Group initiated coverage on International Business Machines in a research note on Monday, June 24th. They set a "buy" rating and a $200.00 price target on the stock. Stifel Nicolaus raised their price target on International Business Machines from $190.00 to $205.00 and gave the stock a "buy" rating in a research note on Thursday, July 25th. Finally, BMO Capital Markets raised their price target on International Business Machines from $190.00 to $210.00 and gave the stock a "market perform" rating in a research note on Thursday, July 25th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, International Business Machines currently has an average rating of "Hold" and a consensus price target of $184.93.
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International Business Machines Stock Performance
Shares of IBM stock traded up $1.23 during midday trading on Monday, hitting $195.01. The company had a trading volume of 1,136,068 shares, compared to its average volume of 4,323,988. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The company's 50 day simple moving average is $181.13 and its 200 day simple moving average is $181.01. The stock has a market cap of $179.14 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 4.24 and a beta of 0.71. International Business Machines Co. has a 52-week low of $135.87 and a 52-week high of $199.18.
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International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, beating the consensus estimate of $2.16 by $0.27. The business had revenue of $15.77 billion during the quarter, compared to analysts' expectations of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The company's quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the firm earned $2.18 EPS. Research analysts anticipate that International Business Machines Co. will post 10.06 earnings per share for the current fiscal year.
International Business Machines Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be issued a dividend of $1.67 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 3.43%. International Business Machines's dividend payout ratio is presently 75.65%.
International Business Machines Company Profile
(Free Report)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.
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