Hollencrest Capital Management Boosts Stock Holdings in International Business Machines Co. (NYSE:IBM)

Hollencrest Capital Management raised its holdings in International Business Machines Co. (NYSE:IBM) by 35.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 938 shares of the technology company’s stock after purchasing an additional 244 shares during the quarter. Hollencrest Capital Management’s holdings in International Business Machines were worth $162,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of International Business Machines by 6.7% in the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after buying an additional 5,546,855 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of International Business Machines by 151.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after purchasing an additional 2,118,165 shares in the last quarter. Strategic Financial Concepts LLC grew its stake in shares of International Business Machines by 12,282.2% during the 2nd quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock worth $817,000 after purchasing an additional 468,567 shares during the period. National Bank of Canada FI increased its holdings in shares of International Business Machines by 79.4% in the 1st quarter. National Bank of Canada FI now owns 922,496 shares of the technology company’s stock valued at $176,160,000 after purchasing an additional 408,230 shares in the last quarter. Finally, Capital Wealth Planning LLC lifted its stake in shares of International Business Machines by 37.2% in the first quarter. Capital Wealth Planning LLC now owns 1,450,768 shares of the technology company’s stock valued at $277,039,000 after purchasing an additional 393,680 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on IBM. Evercore ISI increased their target price on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Royal Bank of Canada raised their price objective on International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. UBS Group raised their price target on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. Finally, The Goldman Sachs Group began coverage on shares of International Business Machines in a research report on Monday, June 24th. They issued a “buy” rating and a $200.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, International Business Machines has a consensus rating of “Hold” and a consensus price target of $188.60.

International Business Machines Stock Performance

NYSE:IBM opened at $217.63 on Friday. 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 cap of $199.92 billion, a PE ratio of 24.65, a P/E/G ratio of 4.67 and a beta of 0.70. The firm has a 50 day simple moving average of $196.52 and a 200-day simple moving average of $184.38. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $218.84.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same period in the previous year, the firm posted $2.18 EPS. International Business Machines’s revenue was up 1.9% on a year-over-year basis. On average, equities analysts expect that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Dividend Announcement

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 $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is 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.