State Street Corp Increases Stock Holdings in International Business Machines Corporation $IBM

State Street Corp lifted its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 1.0% during the 4th quarter, Holdings Channel reports. The firm owned 54,996,293 shares of the technology company’s stock after buying an additional 518,321 shares during the period. International Business Machines makes up about 0.5% of State Street Corp’s holdings, making the stock its 27th biggest position. State Street Corp owned 0.06% of International Business Machines worth $16,290,452,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IBM. VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in International Business Machines by 424.6% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 260,740 shares of the technology company’s stock worth $77,234,000 after buying an additional 211,040 shares during the period. GLOBALT Investments LLC GA raised its stake in shares of International Business Machines by 19.1% in the 4th quarter. GLOBALT Investments LLC GA now owns 18,288 shares of the technology company’s stock valued at $5,417,000 after acquiring an additional 2,930 shares in the last quarter. Waverton Investment Management Ltd increased its position in International Business Machines by 3.3% in the 3rd quarter. Waverton Investment Management Ltd now owns 993,743 shares of the technology company’s stock worth $280,439,000 after buying an additional 32,072 shares during the period. Newbridge Financial Services Group Inc. boosted its stake in International Business Machines by 30.0% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 13,122 shares of the technology company’s stock valued at $3,887,000 after buying an additional 3,029 shares in the last quarter. Finally, NEOS Investment Management LLC boosted its stake in International Business Machines by 51.7% in the 3rd quarter. NEOS Investment Management LLC now owns 114,395 shares of the technology company’s stock valued at $32,278,000 after buying an additional 38,973 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of IBM opened at $271.77 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75. The company has a market capitalization of $255.43 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 2.85 and a beta of 0.67. The stock has a 50 day moving average of $250.02 and a 200 day moving average of $270.34. International Business Machines Corporation has a 12 month low of $212.34 and a 12 month high of $332.46.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, April 22nd. The technology company reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.10. The company had revenue of $15.92 billion during the quarter, compared to the consensus estimate of $15.60 billion. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.International Business Machines’s revenue was up 9.5% on a year-over-year basis. During the same period last year, the business posted $1.60 earnings per share. As a group, sell-side analysts forecast that International Business Machines Corporation will post 12.38 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 8th were given a dividend of $1.69 per share. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from International Business Machines’s previous quarterly dividend of $1.68. This represents a $6.76 dividend on an annualized basis and a dividend yield of 2.5%. International Business Machines’s dividend payout ratio (DPR) is 59.77%.

Analyst Ratings Changes

A number of equities research analysts have commented on IBM shares. UBS Group raised shares of International Business Machines from a “sell” rating to a “neutral” rating and set a $236.00 price objective on the stock in a report on Wednesday, February 25th. HSBC raised International Business Machines from a “reduce” rating to a “hold” rating and upped their price target for the company from $218.00 to $231.00 in a research note on Tuesday, April 28th. Wedbush set a $350.00 price target on International Business Machines in a research note on Tuesday, June 2nd. DZ Bank raised International Business Machines from a “hold” rating to a “buy” rating and set a $295.00 price target on the stock in a research note on Friday, April 24th. Finally, Wall Street Zen lowered International Business Machines from a “hold” rating to a “sell” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $304.17.

International Business Machines Company Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.