Mercer Global Advisors Inc. ADV Purchases 6,885 Shares of International Business Machines Co. (NYSE:IBM)

Mercer Global Advisors Inc. ADV raised its stake in International Business Machines Co. (NYSE:IBM) by 3.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 199,859 shares of the technology company’s stock after acquiring an additional 6,885 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in International Business Machines were worth $33,213,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IBM. E Fund Management Co. Ltd. grew its position in shares of International Business Machines by 32.9% during the 2nd quarter. E Fund Management Co. Ltd. now owns 14,979 shares of the technology company’s stock worth $2,591,000 after buying an additional 3,705 shares during the period. Wealth Alliance grew its position in shares of International Business Machines by 4.3% during the 2nd quarter. Wealth Alliance now owns 5,945 shares of the technology company’s stock worth $1,028,000 after buying an additional 245 shares during the period. Bradley Foster & Sargent Inc. CT grew its position in shares of International Business Machines by 3.2% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 88,495 shares of the technology company’s stock worth $15,305,000 after buying an additional 2,715 shares during the period. Financial & Tax Architects LLC grew its position in shares of International Business Machines by 7.4% during the 2nd quarter. Financial & Tax Architects LLC now owns 36,823 shares of the technology company’s stock worth $6,369,000 after buying an additional 2,522 shares during the period. Finally, Perennial Investment Advisors LLC grew its position in shares of International Business Machines by 9.9% during the 2nd quarter. Perennial Investment Advisors LLC now owns 4,978 shares of the technology company’s stock worth $861,000 after buying an additional 449 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of IBM opened at $214.86 on Thursday. The company has a market cap of $197.37 billion, a PE ratio of 24.33, a price-to-earnings-growth ratio of 4.67 and a beta of 0.70. The firm has a 50-day moving average of $195.11 and a 200-day moving average of $184.00. International Business Machines Co. has a one year low of $135.87 and a one year high of $218.84. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results 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. 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 the consensus estimate of $15.62 billion. During the same quarter in the previous year, the business earned $2.18 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. As a group, equities analysts forecast that International Business Machines Co. will post 10.1 earnings per share for the current 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 issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s dividend payout ratio is 75.65%.

Analysts Set New Price Targets

IBM has been the subject of several analyst reports. The Goldman Sachs Group initiated coverage on shares of International Business Machines in a research report on Monday, June 24th. They set a “buy” rating and a $200.00 price target for the company. UBS Group boosted their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. BMO Capital Markets boosted their price objective on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Stifel Nicolaus boosted their price objective 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. Finally, Royal Bank of Canada boosted their price objective on shares of International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $188.60.

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.