Profund Advisors LLC Grows Holdings in International Business Machines Co. (NYSE:IBM)

Profund Advisors LLC increased its stake in International Business Machines Co. (NYSE:IBM) by 4.9% in the second quarter, Holdings Channel reports. The institutional investor owned 22,699 shares of the technology company’s stock after acquiring an additional 1,065 shares during the quarter. Profund Advisors LLC’s holdings in International Business Machines were worth $3,926,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. bought a new stake in shares of International Business Machines in the 1st quarter worth about $26,000. ESL Trust Services LLC bought a new stake in International Business Machines in the first quarter valued at about $28,000. Creekmur Asset Management LLC bought a new stake in International Business Machines in the fourth quarter valued at about $29,000. Ables Iannone Moore & Associates Inc. bought a new position in International Business Machines during the 4th quarter worth approximately $31,000. Finally, Financial Synergies Wealth Advisors Inc. grew its position in shares of International Business Machines by 164.0% in the 1st 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 in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Price Performance

Shares of IBM opened at $217.70 on Friday. International Business Machines Co. has a one year low of $135.87 and a one year high of $218.84. The stock’s fifty day moving average is $196.52 and its 200-day moving average is $184.33. 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 firm has a market capitalization of $199.98 billion, a price-to-earnings ratio of 24.65, a price-to-earnings-growth 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 EPS for the quarter, beating the consensus estimate of $2.16 by $0.27. The firm had revenue of $15.77 billion for 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%. International Business Machines’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the company earned $2.18 EPS. Equities analysts anticipate that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s payout ratio is currently 75.65%.

Analyst Ratings Changes

IBM has been the topic of several research reports. Jefferies Financial Group upped their price target on International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Royal Bank of Canada raised their price target on shares of International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Evercore ISI increased their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. 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 note on Thursday, July 25th. Finally, The Goldman Sachs Group assumed coverage on International Business Machines in a research report on Monday, June 24th. They set a “buy” rating and a $200.00 price target on the stock. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, International Business Machines presently has an average rating of “Hold” and a consensus price target 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.