Envestnet Asset Management Inc. Has $226.46 Million Stake in International Business Machines Co. (NYSE:IBM)

Envestnet Asset Management Inc. raised its stake in International Business Machines Co. (NYSE:IBM) by 5.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,309,420 shares of the technology company’s stock after purchasing an additional 68,198 shares during the period. Envestnet Asset Management Inc.’s holdings in International Business Machines were worth $226,464,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FPC Investment Advisory Inc. acquired a new position in shares of International Business Machines in the first quarter valued at $26,000. ESL Trust Services LLC bought a new stake in International Business Machines during the first quarter worth about $28,000. Creekmur Asset Management LLC bought a new stake in International Business Machines during the fourth quarter worth about $29,000. Ables Iannone Moore & Associates Inc. bought a new stake in International Business Machines during the fourth quarter worth about $31,000. Finally, Financial Synergies Wealth Advisors Inc. lifted its holdings in shares of International Business Machines by 164.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after acquiring an additional 123 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on IBM. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Stifel Nicolaus increased their target price on shares of International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. BMO Capital Markets increased their target price on shares of International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Evercore ISI increased their target price on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Finally, Jefferies Financial Group increased their target price on shares of International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and a consensus target price of $188.60.

International Business Machines Stock Performance

International Business Machines stock opened at $214.79 on Monday. The company has a market capitalization of $197.85 billion, a P/E ratio of 24.33, a P/E/G ratio of 4.67 and a beta of 0.70. The business has a 50 day moving average of $192.83 and a 200-day moving average of $183.37. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. International Business Machines Co. has a 1 year low of $135.87 and a 1 year high of $216.09.

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, beating analysts’ consensus estimates of $2.16 by $0.27. The business had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.18 EPS. On average, equities research analysts predict that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

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