Penserra Capital Management LLC Raises Stock Position in International Business Machines Corporation (NYSE:IBM)

Penserra Capital Management LLC grew its holdings in International Business Machines Corporation (NYSE:IBM) by 29.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 84,668 shares of the technology company’s stock after buying an additional 19,040 shares during the period. Penserra Capital Management LLC’s holdings in International Business Machines were worth $21,052,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Rialto Wealth Management LLC purchased a new position in shares of International Business Machines during the 4th quarter worth about $35,000. Measured Risk Portfolios Inc. purchased a new position in shares of International Business Machines during the 4th quarter worth about $43,000. Park Square Financial Group LLC purchased a new position in shares of International Business Machines during the 4th quarter worth about $43,000. Mascagni Wealth Management Inc. purchased a new position in shares of International Business Machines during the 4th quarter worth about $43,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of International Business Machines during the 1st quarter worth about $45,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Trading Up 1.4%

NYSE:IBM opened at $291.66 on Friday. International Business Machines Corporation has a one year low of $174.45 and a one year high of $296.16. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. The firm has a market cap of $271.06 billion, a P/E ratio of 50.20, a P/E/G ratio of 6.13 and a beta of 0.69. The firm has a 50-day simple moving average of $268.36 and a 200-day simple moving average of $249.86.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.42 by $0.18. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The business had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. During the same quarter in the previous year, the business posted $1.68 EPS. The company’s quarterly revenue was up .5% compared to the same quarter last year. Equities analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were paid a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.30%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s payout ratio is 115.66%.

Analysts Set New Price Targets

IBM has been the subject of a number of recent analyst reports. UBS Group reaffirmed a “sell” rating and set a $170.00 price target (up from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. Bank of America lifted their price target on shares of International Business Machines from $290.00 to $320.00 and gave the stock a “buy” rating in a research note on Wednesday, June 18th. Morgan Stanley lowered their price objective on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. Wedbush boosted their price objective on shares of International Business Machines from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, June 20th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and an average price target of $257.50.

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.