Brown Brothers Harriman & Co. Purchases 4,705 Shares of International Business Machines Co. (NYSE:IBM)

Brown Brothers Harriman & Co. boosted its position in International Business Machines Co. (NYSE:IBM) by 12.2% during the 2nd quarter, Holdings Channel reports. The fund owned 43,394 shares of the technology company’s stock after buying an additional 4,705 shares during the period. Brown Brothers Harriman & Co.’s holdings in International Business Machines were worth $7,505,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Arden Trust Co raised its holdings in International Business Machines by 2.8% in the first quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock worth $377,000 after buying an additional 54 shares during the last quarter. Armbruster Capital Management Inc. lifted its position in International Business Machines by 2.3% during the second quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company’s stock valued at $432,000 after purchasing an additional 56 shares during the period. CVA Family Office LLC boosted its holdings in International Business Machines by 3.3% in the second quarter. CVA Family Office LLC now owns 1,796 shares of the technology company’s stock worth $311,000 after purchasing an additional 57 shares during the last quarter. Chicago Partners Investment Group LLC raised its stake in International Business Machines by 0.8% during the 4th quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock valued at $1,309,000 after buying an additional 58 shares during the last quarter. Finally, Peddock Capital Advisors LLC lifted its holdings in shares of International Business Machines by 0.6% during the 2nd quarter. Peddock Capital Advisors LLC now owns 10,040 shares of the technology company’s stock valued at $1,736,000 after buying an additional 58 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of International Business Machines stock opened at $217.18 on Tuesday. The stock has a market cap of $200.06 billion, a price-to-earnings ratio of 24.60, a price-to-earnings-growth ratio of 4.67 and a beta of 0.70. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The stock has a 50 day moving average price of $193.62 and a 200-day moving average price of $183.60. International Business Machines Co. has a one year low of $135.87 and a one year high of $217.90.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping the consensus estimate 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 company had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. During the same period in the previous year, the firm earned $2.18 earnings per share. International Business Machines’s quarterly revenue was up 1.9% compared to the same quarter last year. Equities analysts expect that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s payout ratio is currently 75.65%.

Analysts Set New Price Targets

IBM has been the subject of several research analyst reports. The Goldman Sachs Group started coverage on International Business Machines in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 price objective for the company. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Stifel Nicolaus raised their target price on International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada increased their target price on shares of International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $188.60.

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.