Canada Pension Plan Investment Board Acquires 7,000 Shares of International Business Machines Co. (NYSE:IBM)

Canada Pension Plan Investment Board raised its holdings in shares of International Business Machines Co. (NYSE:IBM) by 70,000.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,010 shares of the technology company’s stock after purchasing an additional 7,000 shares during the period. Canada Pension Plan Investment Board’s holdings in International Business Machines were worth $938,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of IBM. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of International Business Machines by 138,904.7% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 17,781,486 shares of the technology company’s stock worth $2,379,341,000 after acquiring an additional 17,768,694 shares in the last quarter. Moneta Group Investment Advisors LLC raised its position in shares of International Business Machines by 98,797.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,029,001 shares of the technology company’s stock worth $1,553,876,000 after acquiring an additional 11,017,849 shares in the last quarter. Norges Bank bought a new position in shares of International Business Machines in the 4th quarter worth approximately $876,014,000. Morgan Stanley raised its position in shares of International Business Machines by 22.8% in the 4th quarter. Morgan Stanley now owns 16,592,094 shares of the technology company’s stock worth $2,337,660,000 after acquiring an additional 3,084,458 shares in the last quarter. Finally, Providence Capital Advisors LLC raised its position in shares of International Business Machines by 13,609.0% in the 1st quarter. Providence Capital Advisors LLC now owns 2,829,537 shares of the technology company’s stock worth $21,584,000 after acquiring an additional 2,808,897 shares in the last quarter. Institutional investors own 56.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on IBM. Royal Bank of Canada decreased their target price on International Business Machines from $188.00 to $179.00 and set an “outperform” rating for the company in a research report on Thursday, October 26th. BMO Capital Markets upped their price target on International Business Machines from $152.00 to $155.00 and gave the stock a “market perform” rating in a research note on Thursday, October 26th. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research note on Friday, October 13th. Wedbush restated a “neutral” rating and issued a $140.00 price target on shares of International Business Machines in a research note on Monday, November 13th. Finally, Morgan Stanley cut their price target on International Business Machines from $135.00 to $130.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 17th. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and an average target price of $149.09.

International Business Machines Stock Performance

Shares of IBM opened at $154.35 on Tuesday. The company has a market cap of $140.94 billion, a price-to-earnings ratio of 20.47, a P/E/G ratio of 4.16 and a beta of 0.76. International Business Machines Co. has a 12 month low of $120.55 and a 12 month high of $154.68. The company has a current ratio of 0.91, a quick ratio of 0.86 and a debt-to-equity ratio of 2.11. The business’s fifty day simple moving average is $144.45 and its two-hundred day simple moving average is $139.19.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, October 25th. The technology company reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.08. The firm had revenue of $14.75 billion for the quarter, compared to the consensus estimate of $14.73 billion. International Business Machines had a return on equity of 38.51% and a net margin of 11.32%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period last year, the business posted $1.81 EPS. Research analysts anticipate that International Business Machines Co. will post 9.45 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, December 9th. Stockholders of record on Friday, November 10th will be paid a $1.66 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $6.64 dividend on an annualized basis and a dividend yield of 4.30%. International Business Machines’s dividend payout ratio (DPR) is currently 88.06%.

International Business Machines Company Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.