Jupiter Asset Management Ltd. Has $2.36 Million Position in International Business Machines Co. (NYSE:IBM)

Jupiter Asset Management Ltd. trimmed its position in International Business Machines Co. (NYSE:IBM) by 18.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,632 shares of the technology company’s stock after selling 3,098 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in International Business Machines were worth $2,358,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in International Business Machines during the fourth quarter worth about $1,019,009,000. Vanguard Group Inc. increased its holdings in shares of International Business Machines by 6.7% during the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after purchasing an additional 5,546,855 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of International Business Machines by 151.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock valued at $671,352,000 after buying an additional 2,118,165 shares in the last quarter. Strategic Financial Concepts LLC raised its position in shares of International Business Machines by 12,282.2% in the second quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock valued at $817,000 after buying an additional 468,567 shares in the last quarter. Finally, National Bank of Canada FI boosted its stake in shares of International Business Machines by 79.4% in the first quarter. National Bank of Canada FI now owns 922,496 shares of the technology company’s stock valued at $176,160,000 after buying an additional 408,230 shares during the period. Institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on IBM shares. Jefferies Financial Group lifted their price objective on International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Evercore ISI boosted their price target on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday. UBS Group increased their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. The Goldman Sachs Group started coverage on shares of International Business Machines in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 target price on the stock. Finally, Stifel Nicolaus upped their price target on shares of International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, July 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 company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $188.60.

International Business Machines Stock Up 1.5 %

Shares of IBM opened at $214.79 on Friday. The stock has a market capitalization of $197.85 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 4.67 and a beta of 0.70. International Business Machines Co. has a 52 week low of $135.87 and a 52 week high of $216.09. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The stock has a fifty day moving average of $192.83 and a 200-day moving average of $183.40.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same period last year, the firm posted $2.18 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, sell-side analysts anticipate that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 3.11%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is currently 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.