Garner Asset Management Corp Has $2.24 Million Holdings in International Business Machines Co. (NYSE:IBM)

Garner Asset Management Corp lifted its position in shares of International Business Machines Co. (NYSE:IBM) by 5.5% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 12,970 shares of the technology company’s stock after purchasing an additional 673 shares during the quarter. International Business Machines accounts for about 1.1% of Garner Asset Management Corp’s investment portfolio, making the stock its 25th biggest holding. Garner Asset Management Corp’s holdings in International Business Machines were worth $2,243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. FPC Investment Advisory Inc. bought a new position in shares of International Business Machines in the 1st quarter valued at about $26,000. ESL Trust Services LLC acquired a new position in shares of International Business Machines during the 1st quarter worth approximately $28,000. Creekmur Asset Management LLC acquired a new position in shares of International Business Machines in the fourth quarter valued at $29,000. Ables Iannone Moore & Associates Inc. acquired a new position in International Business Machines in the 4th quarter valued at about $31,000. Finally, Financial Synergies Wealth Advisors Inc. increased its stake in shares of International Business Machines by 164.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after purchasing an additional 123 shares during the period. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Performance

Shares of IBM opened at $214.86 on Thursday. 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 one year low of $135.87 and a one year high of $218.84. The stock has a 50-day moving average of $195.11 and a 200-day moving average of $184.00. The company has a market cap of $197.37 billion, a PE ratio of 24.33, a P/E/G ratio of 4.67 and a beta of 0.70.

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

International Business Machines Dividend Announcement

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

Analyst Ratings Changes

IBM has been the subject of several analyst reports. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. UBS Group lifted their target price on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. BMO Capital Markets upped their price target 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 raised their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Finally, Jefferies Financial Group raised their target price on 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 investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average 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.