Federated Hermes Inc. Boosts Stake in International Business Machines Co. (NYSE:IBM)

Federated Hermes Inc. lifted its position in shares of International Business Machines Co. (NYSE:IBM) by 39.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 183,544 shares of the technology company’s stock after acquiring an additional 52,385 shares during the quarter. Federated Hermes Inc.’s holdings in International Business Machines were worth $31,744,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. GHP Investment Advisors Inc. boosted its stake in shares of International Business Machines by 1.8% during the 2nd quarter. GHP Investment Advisors Inc. now owns 77,200 shares of the technology company’s stock worth $13,352,000 after acquiring an additional 1,364 shares in the last quarter. Meeder Advisory Services Inc. increased its holdings in shares of International Business Machines by 34.3% in the second quarter. Meeder Advisory Services Inc. now owns 15,061 shares of the technology company’s stock valued at $2,605,000 after purchasing an additional 3,846 shares during the last quarter. Ullmann Wealth Partners Group LLC boosted its stake in International Business Machines by 5.9% during the second quarter. Ullmann Wealth Partners Group LLC now owns 2,984 shares of the technology company’s stock worth $516,000 after buying an additional 166 shares during the last quarter. Main Street Financial Solutions LLC increased its stake in shares of International Business Machines by 3.5% in the 2nd quarter. Main Street Financial Solutions LLC now owns 10,035 shares of the technology company’s stock worth $1,735,000 after acquiring an additional 335 shares during the last quarter. Finally, Vest Financial LLC raised its holdings in shares of International Business Machines by 12.7% during the 2nd quarter. Vest Financial LLC now owns 263,467 shares of the technology company’s stock worth $45,567,000 after acquiring an additional 29,626 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Up 1.5 %

IBM stock opened at $214.79 on Friday. The company’s 50 day moving average price is $192.83 and its 200 day moving average price is $183.39. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. International Business Machines Co. has a fifty-two week low of $135.87 and a fifty-two week high of $216.09. The firm has a market capitalization of $197.85 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 4.67 and a beta of 0.70.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same period in the prior year, the firm earned $2.18 earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities research analysts anticipate that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a dividend of $1.67 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.11%. International Business Machines’s payout ratio is 75.65%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of International Business Machines in a research report on Monday, June 24th. They set a “buy” rating and a $200.00 price objective for the company. Evercore ISI increased their price objective on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday. Stifel Nicolaus lifted their target price on International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Finally, Jefferies Financial Group increased their price objective on shares of International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $188.60.

International Business Machines Company 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.