GAMMA Investing LLC Purchases New Position in International Business Machines Co. (NYSE:IBM)

GAMMA Investing LLC acquired a new position in shares of International Business Machines Co. (NYSE:IBM) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 5,783 shares of the technology company’s stock, valued at approximately $946,000.

Several other large investors also recently bought and sold shares of IBM. Naples Money Management LLC purchased a new stake in International Business Machines during the 4th quarter worth approximately $28,000. Briaud Financial Planning Inc purchased a new stake in shares of International Business Machines in the third quarter valued at approximately $31,000. Stone House Investment Management LLC grew its position in shares of International Business Machines by 971.4% in the third quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after purchasing an additional 204 shares in the last quarter. Financial Gravity Asset Management Inc. grew its position in shares of International Business Machines by 67.9% in the third quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock valued at $32,000 after purchasing an additional 91 shares in the last quarter. Finally, Cordant Inc. grew its position in shares of International Business Machines by 753.3% in the fourth quarter. Cordant Inc. now owns 256 shares of the technology company’s stock valued at $42,000 after purchasing an additional 226 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Price Performance

Shares of IBM traded up $0.29 during mid-day trading on Tuesday, reaching $182.19. 5,921,450 shares of the company’s stock were exchanged, compared to its average volume of 4,773,702. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 2.22. The company has a 50-day simple moving average of $188.38 and a two-hundred day simple moving average of $169.59. International Business Machines Co. has a 52-week low of $120.55 and a 52-week high of $199.18. The company has a market cap of $167.02 billion, a price-to-earnings ratio of 22.64, a PEG ratio of 3.57 and a beta of 0.70.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 24th. The technology company reported $3.87 EPS for the quarter, topping the consensus estimate of $3.78 by $0.09. The firm had revenue of $17.38 billion during the quarter, compared to analysts’ expectations of $17.29 billion. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. International Business Machines’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the company earned $3.60 EPS. On average, sell-side analysts predict that International Business Machines Co. will post 10.04 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Stockholders of record on Friday, February 9th were paid a dividend of $1.66 per share. The ex-dividend date was Thursday, February 8th. This represents a $6.64 annualized dividend and a dividend yield of 3.64%. International Business Machines’s dividend payout ratio is presently 81.67%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Evercore ISI upgraded International Business Machines from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $165.00 to $200.00 in a report on Friday, January 19th. Jefferies Financial Group decreased their price target on International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a research note on Tuesday. Stifel Nicolaus restated a “buy” rating and set a $190.00 price target on shares of International Business Machines in a research note on Wednesday, April 17th. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, BMO Capital Markets upped their price target on International Business Machines from $155.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, January 25th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $177.23.

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.