Signet Financial Management LLC Acquires 9,840 Shares of International Business Machines Co. (NYSE:IBM)

Signet Financial Management LLC raised its holdings in International Business Machines Co. (NYSE:IBM) by 796.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 11,076 shares of the technology company’s stock after purchasing an additional 9,840 shares during the quarter. Signet Financial Management LLC’s holdings in International Business Machines were worth $2,115,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of International Business Machines by 0.4% during the third quarter. Vanguard Group Inc. now owns 82,076,195 shares of the technology company’s stock worth $11,515,290,000 after purchasing an additional 365,388 shares during the period. Morgan Stanley increased its stake in shares of 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 period. Charles Schwab Investment Management Inc. increased its stake in shares of International Business Machines by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,465,214 shares of the technology company’s stock worth $1,048,631,000 after purchasing an additional 61,028 shares during the period. Norges Bank acquired a new stake in International Business Machines during the fourth quarter worth approximately $1,019,009,000. Finally, Dimensional Fund Advisors LP grew its position in International Business Machines by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,500,184 shares of the technology company’s stock worth $736,015,000 after buying an additional 97,482 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Down 0.6 %

Shares of NYSE:IBM opened at $170.88 on Friday. The firm has a market cap of $156.97 billion, a P/E ratio of 19.35, a P/E/G ratio of 4.24 and a beta of 0.72. 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 Co. has a 12-month low of $130.91 and a 12-month high of $199.18. The business has a fifty day simple moving average of $170.34 and a 200 day simple moving average of $176.37.

International Business Machines (NYSE:IBM) last announced its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping 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 business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. During the same period last year, the company earned $1.36 EPS. International Business Machines’s revenue for the quarter was up 1.5% compared to the same quarter last year. Analysts predict that International Business Machines Co. will post 9.9 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were given a $1.67 dividend. The ex-dividend date was Thursday, May 9th. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a dividend yield of 3.91%. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Stifel Nicolaus reissued a “buy” rating and set a $190.00 price target on shares of International Business Machines in a research report on Thursday, May 16th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price target on shares of International Business Machines in a research report on Wednesday, May 22nd. Sanford C. Bernstein increased their price target on International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research report on Thursday, March 7th. JPMorgan Chase & Co. reduced their price target on International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Finally, Wedbush increased 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 analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, International Business Machines currently has an average rating of “Hold” and an average target price of $182.53.

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.