Los Angeles Capital Management LLC Has $39.09 Million Position in International Business Machines Co. (NYSE:IBM)

Los Angeles Capital Management LLC raised its stake in International Business Machines Co. (NYSE:IBM) by 149.8% in the 1st quarter, Holdings Channel.com reports. The fund owned 204,709 shares of the technology company’s stock after buying an additional 122,764 shares during the quarter. Los Angeles Capital Management LLC’s holdings in International Business Machines were worth $39,091,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of IBM. CWM LLC lifted its position in International Business Machines by 2.7% during the first quarter. CWM LLC now owns 113,524 shares of the technology company’s stock worth $21,679,000 after purchasing an additional 3,019 shares during the period. Cullen Investment Group LTD. raised its position in shares of International Business Machines by 21.3% in the 1st quarter. Cullen Investment Group LTD. now owns 3,642 shares of the technology company’s stock valued at $688,000 after buying an additional 639 shares in the last quarter. Moseley Investment Management Inc. lifted its holdings in shares of International Business Machines by 34.6% during the 1st quarter. Moseley Investment Management Inc. now owns 2,013 shares of the technology company’s stock worth $384,000 after acquiring an additional 517 shares during the period. Advance Capital Management Inc. boosted its position in shares of International Business Machines by 2.9% during the 1st quarter. Advance Capital Management Inc. now owns 2,502 shares of the technology company’s stock worth $478,000 after acquiring an additional 71 shares in the last quarter. Finally, Trust Co. of Toledo NA OH increased its stake in International Business Machines by 15.3% in the first quarter. Trust Co. of Toledo NA OH now owns 16,925 shares of the technology company’s stock valued at $3,232,000 after acquiring an additional 2,252 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday. BMO Capital Markets reduced their price objective on International Business Machines from $210.00 to $190.00 and set a “market perform” rating on the stock in a research note on Thursday, April 25th. Sanford C. Bernstein raised their price target on shares of International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a research note on Thursday, March 7th. Stifel Nicolaus reiterated a “buy” rating and set a $190.00 price objective on shares of International Business Machines in a research report on Thursday, May 16th. Finally, UBS Group raised their target price on shares of International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a research report on Monday, April 22nd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $181.29.

International Business Machines Stock Performance

NYSE IBM opened at $170.55 on Thursday. The company has a market capitalization of $156.67 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 4.21 and a beta of 0.72. International Business Machines Co. has a twelve month low of $129.18 and a twelve month high of $199.18. The stock has a fifty day simple moving average of $171.35 and a 200 day simple moving average of $175.95. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. During the same quarter in the prior year, the firm posted $1.36 earnings per share. The business’s quarterly revenue was up 1.5% on a year-over-year basis. Sell-side analysts expect that International Business Machines Co. will post 9.9 EPS for the current year.

International Business Machines Increases Dividend

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

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.