Syon Capital LLC Takes $220,000 Position in International Business Machines Co. (NYSE:IBM)

Syon Capital LLC bought a new position in shares of International Business Machines Co. (NYSE:IBM) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,346 shares of the technology company’s stock, valued at approximately $220,000.

Several other institutional investors have also recently added to or reduced their stakes in IBM. Norges Bank purchased a new stake in International Business Machines during the fourth quarter worth approximately $1,019,009,000. International Assets Investment Management LLC lifted its stake in International Business Machines by 15,439.1% during the fourth quarter. International Assets Investment Management LLC now owns 2,653,462 shares of the technology company’s stock worth $433,974,000 after purchasing an additional 2,636,386 shares during the last quarter. Morgan Stanley lifted its stake in International Business Machines by 13.4% during the third quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock worth $2,280,968,000 after purchasing an additional 1,919,490 shares during the last quarter. Capital Wealth Planning LLC purchased a new stake in International Business Machines during the fourth quarter worth approximately $172,887,000. Finally, Northern Trust Corp lifted its stake in International Business Machines by 4.2% during the third quarter. Northern Trust Corp now owns 9,970,674 shares of the technology company’s stock worth $1,398,886,000 after purchasing an additional 404,948 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

IBM has been the topic of several research analyst reports. BMO Capital Markets cut their price target on International Business Machines from $210.00 to $190.00 and set a “market perform” rating on the stock in a research report on Thursday, April 25th. Bank of America lifted their price target 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. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Jefferies Financial Group cut their price target on International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a research report on Tuesday, April 23rd. Finally, Wedbush lifted their price target on International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average target price of $181.29.

International Business Machines Trading Up 0.6 %

NYSE:IBM opened at $170.56 on Wednesday. The firm has a market cap of $156.68 billion, a P/E ratio of 19.32, a PEG ratio of 4.17 and a beta of 0.72. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32. The stock’s 50 day simple moving average is $171.65 and its 200-day simple moving average is $175.99. International Business Machines Co. has a 12-month low of $129.18 and a 12-month high of $199.18.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.53 billion. During the same quarter in the prior year, the company posted $1.36 earnings per share. International Business Machines’s quarterly revenue was up 1.5% on a year-over-year basis. Equities analysts anticipate that International Business Machines Co. will post 9.9 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date of this dividend was Thursday, May 9th. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio is currently 75.65%.

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.