Benjamin Edwards Inc. Has $30.90 Million Holdings in International Business Machines Corporation $IBM

Benjamin Edwards Inc. lifted its stake in International Business Machines Corporation (NYSE:IBM) by 1.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 104,833 shares of the technology company’s stock after acquiring an additional 1,808 shares during the period. Benjamin Edwards Inc.’s holdings in International Business Machines were worth $30,903,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Brighton Jones LLC lifted its position in shares of International Business Machines by 12.4% in the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock worth $4,619,000 after acquiring an additional 2,323 shares during the period. Strategies Wealth Advisors LLC bought a new position in International Business Machines in the first quarter worth $398,000. Lord Abbett & CO. LLC bought a new stake in International Business Machines in the 1st quarter valued at $35,608,000. Vestmark Advisory Solutions Inc. acquired a new position in shares of International Business Machines in the 1st quarter valued at $225,000. Finally, Kovitz Investment Group Partners LLC boosted its position in shares of International Business Machines by 80.7% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 97,840 shares of the technology company’s stock valued at $24,329,000 after acquiring an additional 43,709 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

IBM has been the subject of a number of analyst reports. Oppenheimer initiated coverage on shares of International Business Machines in a research note on Friday, November 21st. They set an “outperform” rating and a $360.00 price target for the company. Royal Bank Of Canada reduced their target price on shares of International Business Machines from $315.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, October 23rd. Morgan Stanley dropped their target price on shares of International Business Machines from $256.00 to $252.00 and set an “equal weight” rating for the company in a research report on Thursday, October 23rd. Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Friday, December 5th. Finally, Wall Street Zen upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Sunday, October 26th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $293.38.

International Business Machines Trading Down 0.5%

Shares of NYSE IBM opened at $309.33 on Friday. The company’s 50 day simple moving average is $299.47 and its 200 day simple moving average is $278.09. The firm has a market capitalization of $289.14 billion, a P/E ratio of 37.00, a P/E/G ratio of 3.09 and a beta of 0.69. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.93 and a quick ratio of 0.89. International Business Machines Corporation has a fifty-two week low of $214.50 and a fifty-two week high of $324.90.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 22nd. The technology company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.45 by $0.20. The firm had revenue of $16.33 billion for the quarter, compared to analysts’ expectations of $16.10 billion. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.The company’s revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.30 earnings per share. On average, analysts predict that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Monday, November 10th were given a $1.68 dividend. The ex-dividend date was Monday, November 10th. This represents a $6.72 annualized dividend and a dividend yield of 2.2%. International Business Machines’s payout ratio is currently 80.38%.

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.