Naviter Wealth LLC Purchases 975 Shares of International Business Machines Co. (NYSE:IBM)

Naviter Wealth LLC grew its position in International Business Machines Co. (NYSE:IBM) by 12.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,849 shares of the technology company’s stock after buying an additional 975 shares during the period. Naviter Wealth LLC’s holdings in International Business Machines were worth $1,690,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of IBM. Vanguard Group Inc. grew its position in International Business Machines by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 82,076,195 shares of the technology company’s stock worth $11,515,290,000 after purchasing an additional 365,388 shares during the last quarter. Morgan Stanley lifted its stake in shares of International Business Machines by 13.4% in the 3rd quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock valued at $2,280,968,000 after purchasing an additional 1,919,490 shares during the period. Charles Schwab Investment Management Inc. raised its position in International Business Machines by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,465,214 shares of the technology company’s stock worth $1,048,631,000 after acquiring an additional 61,028 shares during the period. Norges Bank acquired a new position in International Business Machines during the fourth quarter worth $1,019,009,000. Finally, Dimensional Fund Advisors LP raised its position in International Business Machines by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,500,184 shares of the technology company’s stock worth $736,015,000 after acquiring an additional 97,482 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IBM. Bank of America upped their price objective on shares of International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price target on shares of International Business Machines in a research report on Wednesday, May 22nd. JPMorgan Chase & Co. reduced their target price on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Jefferies Financial Group cut their price objective on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a report on Tuesday, April 23rd. Finally, BNP Paribas initiated coverage on shares of International Business Machines in a report on Thursday, May 2nd. They set an “underperform” rating and a $145.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $182.53.

International Business Machines Trading Up 1.3 %

NYSE:IBM opened at $177.31 on Wednesday. The company has a market capitalization of $162.88 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 4.27 and a beta of 0.71. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. International Business Machines Co. has a 52-week low of $131.55 and a 52-week high of $199.18. The stock has a fifty day simple moving average of $169.82 and a 200-day simple moving average of $176.66.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.09. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The business’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.36 EPS. On average, equities research analysts expect that International Business Machines Co. will post 9.9 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $6.68 dividend on an annualized basis and a yield of 3.77%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

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.