Choreo LLC Raises Holdings in International Business Machines Co. (NYSE:IBM)

Choreo LLC boosted its position in International Business Machines Co. (NYSE:IBM) by 89.5% during the 4th quarter, Holdings Channel reports. The fund owned 36,692 shares of the technology company’s stock after acquiring an additional 17,331 shares during the quarter. Choreo LLC’s holdings in International Business Machines were worth $6,001,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Naples Money Management LLC acquired a new position in shares of International Business Machines during the fourth quarter worth $28,000. Briaud Financial Planning Inc acquired a new position in International Business Machines in the third quarter valued at approximately $31,000. Stone House Investment Management LLC increased its stake in 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 during the last quarter. Financial Gravity Asset Management Inc. raised its stake in International Business Machines by 67.9% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock worth $32,000 after acquiring an additional 91 shares in the last quarter. Finally, Cordant Inc. boosted its position in shares of International Business Machines by 753.3% in the 4th quarter. Cordant Inc. now owns 256 shares of the technology company’s stock valued at $42,000 after purchasing an additional 226 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on IBM shares. Evercore upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and upped their price target for the company from $165.00 to $200.00 in a research report on Friday, January 19th. Bank of America increased their price objective on International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Royal Bank of Canada increased their price target on International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Morgan Stanley dropped their price objective on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, Wedbush raised their target price on shares of International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday. Two 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $184.08.

International Business Machines Trading Down 0.3 %

Shares of International Business Machines stock traded down $0.54 on Monday, reaching $166.59. 1,498,515 shares of the company were exchanged, compared to its average volume of 4,964,289. International Business Machines Co. has a fifty-two week low of $120.55 and a fifty-two week high of $199.18. The stock has a fifty day moving average price of $187.60 and a 200-day moving average price of $170.53. The firm has a market capitalization of $152.72 billion, a price-to-earnings ratio of 18.86, a price-to-earnings-growth ratio of 4.08 and a beta of 0.70. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.09. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. International Business Machines’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the company earned $1.36 earnings per share. On average, analysts expect that International Business Machines Co. will post 9.99 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Stockholders of record on Friday, February 9th were paid a $1.66 dividend. This represents a $6.64 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date of this dividend was Thursday, February 8th. International Business Machines’s dividend payout ratio is 75.20%.

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.