Norden Group LLC Has $1.04 Million Stock Position in International Business Machines Co. (NYSE:IBM)

Norden Group LLC boosted its stake in shares of International Business Machines Co. (NYSE:IBM) by 2.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,997 shares of the technology company’s stock after purchasing an additional 117 shares during the quarter. Norden Group LLC’s holdings in International Business Machines were worth $1,037,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Mosley Wealth Management acquired a new stake in International Business Machines during the fourth quarter worth about $312,000. Hodges Capital Management Inc. lifted its position in shares of International Business Machines by 60.8% in the 1st quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock worth $3,921,000 after acquiring an additional 7,768 shares during the period. Burns J W & Co. Inc. NY grew its holdings in shares of International Business Machines by 10.8% during the 1st quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock worth $491,000 after purchasing an additional 250 shares in the last quarter. 1832 Asset Management L.P. bought a new stake in shares of International Business Machines during the fourth quarter valued at approximately $3,017,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of International Business Machines by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,500,184 shares of the technology company’s stock valued at $736,015,000 after purchasing an additional 97,482 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Down 0.9 %

Shares of NYSE:IBM opened at $200.74 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The firm has a market cap of $184.40 billion, a P/E ratio of 22.73, a P/E/G ratio of 4.50 and a beta of 0.71. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $205.95. The company’s 50-day moving average price is $189.52 and its two-hundred day moving average price is $182.50.

International Business Machines (NYSE:IBM) last released 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. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the prior year, the firm earned $2.18 earnings per share. International Business Machines’s revenue was up 1.9% compared to the same quarter last year. As a group, research analysts forecast that International Business Machines Co. will post 10.09 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced 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 of this dividend is Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.33%. International Business Machines’s payout ratio is currently 75.65%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on IBM shares. Stifel Nicolaus boosted their price target on shares of International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Royal Bank of Canada raised their price target on shares of International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. The Goldman Sachs Group assumed coverage on International Business Machines in a research note on Monday, June 24th. They issued a “buy” rating and a $200.00 price objective on the stock. Finally, UBS Group raised their target price on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $185.93.

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.