Evergreen Capital Management LLC Raises Stock Position in International Business Machines Co. (NYSE:IBM)

Evergreen Capital Management LLC raised its holdings in International Business Machines Co. (NYSE:IBM) by 16.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,687 shares of the technology company’s stock after purchasing an additional 1,768 shares during the quarter. Evergreen Capital Management LLC’s holdings in International Business Machines were worth $2,194,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IBM. Mosley Wealth Management acquired a new stake in International Business Machines during the fourth quarter worth about $312,000. Hodges Capital Management Inc. boosted its holdings in International Business Machines by 60.8% during the first quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock worth $3,921,000 after buying an additional 7,768 shares in the last quarter. Burns J W & Co. Inc. NY grew its position in International Business Machines by 10.8% during the first quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock valued at $491,000 after buying an additional 250 shares during the period. 1832 Asset Management L.P. purchased a new position in International Business Machines in the fourth quarter valued at $3,017,000. Finally, Westwood Holdings Group Inc. raised its position in shares of International Business Machines by 19.9% in the fourth quarter. Westwood Holdings Group Inc. now owns 115,321 shares of the technology company’s stock worth $18,861,000 after acquiring an additional 19,175 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Up 1.3 %

NYSE IBM opened at $220.44 on Tuesday. International Business Machines Co. has a 52 week low of $135.87 and a 52 week high of $220.62. The firm has a market cap of $202.50 billion, a PE ratio of 24.96, a P/E/G ratio of 4.67 and a beta of 0.70. The business’s fifty day simple moving average is $197.27 and its 200-day simple moving average is $184.41. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $15.62 billion. During the same quarter last year, the firm earned $2.18 earnings per share. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, equities analysts anticipate that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued a $1.67 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.03%. International Business Machines’s dividend payout ratio is currently 75.65%.

Analysts Set New Price Targets

Several brokerages recently weighed in on IBM. Royal Bank of Canada lifted their price target 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. Evercore ISI boosted their price objective on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. UBS Group lifted their price target on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. BMO Capital Markets boosted their target price on shares of International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Finally, Jefferies Financial Group raised their price target on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $188.60.

About International Business Machines

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.