Raymond James Financial Services Advisors Inc. Increases Position in International Business Machines Co. (NYSE:IBM)

Raymond James Financial Services Advisors Inc. boosted its stake in shares of International Business Machines Co. (NYSE:IBM) by 1.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 654,226 shares of the technology company’s stock after purchasing an additional 7,963 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in International Business Machines were worth $113,148,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in IBM. Fidelis Capital Partners LLC grew its holdings in International Business Machines by 31.6% in the fourth quarter. Fidelis Capital Partners LLC now owns 2,245 shares of the technology company’s stock valued at $367,000 after purchasing an additional 539 shares during the last quarter. HTLF Bank purchased a new position in International Business Machines during the 4th quarter valued at about $474,000. Beaumont Financial Advisors LLC raised its position in International Business Machines by 1.0% during the fourth quarter. Beaumont Financial Advisors LLC now owns 9,001 shares of the technology company’s stock worth $1,472,000 after acquiring an additional 88 shares during the last quarter. Resonant Capital Advisors LLC lifted its holdings in shares of International Business Machines by 3.3% in the fourth quarter. Resonant Capital Advisors LLC now owns 2,037 shares of the technology company’s stock valued at $333,000 after purchasing an additional 65 shares in the last quarter. Finally, Naples Money Management LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at approximately $28,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on IBM. The Goldman Sachs Group initiated coverage on International Business Machines in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 price target for the company. Wedbush boosted their price target on International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. BNP Paribas initiated coverage on shares of International Business Machines in a research report on Thursday, May 2nd. They set an “underperform” rating and a $145.00 price target for the company. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Finally, JPMorgan Chase & Co. decreased their price target on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $184.93.

International Business Machines Price Performance

Shares of NYSE IBM opened at $194.68 on Tuesday. 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 firm has a market capitalization of $178.83 billion, a PE ratio of 22.05, a P/E/G ratio of 4.24 and a beta of 0.71. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $199.18. The business’s fifty day moving average price is $181.61 and its two-hundred day moving average price is $181.07.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. The business had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.18 EPS. On average, research analysts expect that International Business Machines Co. will post 10.06 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be given a dividend of $1.67 per share. The ex-dividend date is Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.43%. International Business Machines’s dividend payout ratio is presently 75.65%.

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.