GUNN & Co INVESTMENT MANAGEMENT INC. Buys New Stake in International Business Machines Co. (NYSE:IBM)

GUNN & Co INVESTMENT MANAGEMENT INC. purchased a new position in shares of International Business Machines Co. (NYSE:IBM) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,965 shares of the technology company’s stock, valued at approximately $321,000.

Several other institutional investors and hedge funds also recently modified their holdings of IBM. Vanguard Group Inc. increased its position in shares of International Business Machines by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 82,076,195 shares of the technology company’s stock valued at $11,515,290,000 after purchasing an additional 365,388 shares during the period. Morgan Stanley lifted its holdings in International Business Machines by 13.4% in the 3rd quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock valued at $2,280,968,000 after acquiring an additional 1,919,490 shares during the last quarter. Northern Trust Corp boosted its position in shares of International Business Machines by 4.2% during the 3rd quarter. Northern Trust Corp now owns 9,970,674 shares of the technology company’s stock valued at $1,398,886,000 after purchasing an additional 404,948 shares in the last quarter. California Public Employees Retirement System grew its stake in shares of International Business Machines by 15.9% in the 3rd quarter. California Public Employees Retirement System now owns 6,345,842 shares of the technology company’s stock worth $890,322,000 after purchasing an additional 871,247 shares during the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of International Business Machines by 15,439.1% in the 4th quarter. International Assets Investment Management LLC now owns 2,653,462 shares of the technology company’s stock worth $433,974,000 after purchasing an additional 2,636,386 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on IBM shares. Stifel Nicolaus restated a “buy” rating and issued a $190.00 price target on shares of International Business Machines in a research report on Wednesday, April 17th. Bank of America upped their target price on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Evercore upgraded International Business Machines from an “in-line” rating to an “outperform” rating and increased their price target for the company from $165.00 to $200.00 in a research report on Friday, January 19th. BNP Paribas started coverage on International Business Machines in a report on Thursday. They set an “underperform” rating and a $145.00 price objective on the stock. Finally, StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus target price of $181.29.

International Business Machines Stock Up 1.8 %

Shares of International Business Machines stock traded up $2.93 on Monday, hitting $168.64. 4,221,712 shares of the company traded hands, compared to its average volume of 4,970,316. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. International Business Machines Co. has a 12-month low of $120.55 and a 12-month high of $199.18. The company has a 50-day moving average price of $185.75 and a 200 day moving average price of $171.44. The company has a market cap of $154.91 billion, a PE ratio of 18.92, a PEG ratio of 4.08 and a beta of 0.74.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.59 by $0.09. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.36 EPS. Sell-side analysts predict that International Business Machines Co. will post 9.92 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be issued a $1.67 dividend. The ex-dividend date is Thursday, May 9th. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 dividend on an annualized basis and a yield of 3.96%. International Business Machines’s dividend payout ratio is currently 75.20%.

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.