Diligent Investors LLC Has $2.27 Million Stake in International Business Machines Co. (NYSE:IBM)

Diligent Investors LLC lifted its stake in shares of International Business Machines Co. (NYSE:IBM) by 3.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,136 shares of the technology company’s stock after acquiring an additional 304 shares during the period. Diligent Investors LLC’s holdings in International Business Machines were worth $2,272,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of IBM. Capital World Investors lifted its position in shares of International Business Machines by 413.5% during the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock valued at $2,634,577,000 after acquiring an additional 9,650,534 shares during the period. Norges Bank acquired a new position in shares of International Business Machines during the 4th quarter valued at $1,236,176,000. GAMMA Investing LLC lifted its position in shares of International Business Machines by 29,564.2% during the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company’s stock valued at $10,940,520,000 after acquiring an additional 4,384,958 shares during the period. Raymond James Financial Inc. acquired a new position in shares of International Business Machines during the 4th quarter valued at $592,746,000. Finally, Northern Trust Corp lifted its position in shares of International Business Machines by 18.6% during the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock valued at $2,384,275,000 after acquiring an additional 1,704,209 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

IBM opened at $265.34 on Thursday. The firm has a market cap of $246.61 billion, a P/E ratio of 41.39, a PEG ratio of 5.81 and a beta of 0.64. The firm has a 50-day moving average of $247.45 and a 200 day moving average of $240.98. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. International Business Machines Co. has a fifty-two week low of $165.78 and a fifty-two week high of $269.28.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.42 by $0.18. The business had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The company’s revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.68 earnings per share. On average, research analysts expect that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be issued a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.53%. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio is presently 115.66%.

Analyst Ratings Changes

IBM has been the subject of a number of recent research reports. The Goldman Sachs Group restated a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. Morgan Stanley decreased their price target on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. UBS Group restated a “sell” rating and set a $170.00 price target (up previously from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. Citigroup restated an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. Finally, Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines presently has an average rating of “Hold” and an average price target of $249.06.

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.