Creative Planning Raises Stock Position in International Business Machines Co. (NYSE:IBM)

Creative Planning increased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 6.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 286,063 shares of the technology company’s stock after purchasing an additional 17,475 shares during the period. Creative Planning’s holdings in International Business Machines were worth $49,475,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Mosley Wealth Management purchased a new stake in shares of International Business Machines during the 4th quarter valued at about $312,000. Hodges Capital Management Inc. raised its stake in shares of International Business Machines by 60.8% during the first quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock valued at $3,921,000 after purchasing an additional 7,768 shares during the period. Burns J W & Co. Inc. NY boosted its stake in shares of International Business Machines by 10.8% in the first quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock valued at $491,000 after purchasing an additional 250 shares during the period. 1832 Asset Management L.P. acquired a new stake in International Business Machines during the 4th quarter valued at $3,017,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in International Business Machines during the 2nd quarter worth $7,160,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Performance

Shares of NYSE IBM opened at $220.84 on Monday. The stock has a market capitalization of $202.86 billion, a P/E ratio of 25.01, a P/E/G ratio of 4.90 and a beta of 0.70. The firm’s 50-day moving average price is $200.17 and its two-hundred day moving average price is $185.15. International Business Machines Co. has a 52-week low of $135.87 and a 52-week high of $224.15. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last released 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. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. During the same quarter in the previous year, the firm posted $2.18 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, sell-side analysts forecast that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a $1.67 dividend. 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 3.02%. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on IBM. UBS Group raised their target price on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. BMO Capital Markets lifted their price objective on International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. The Goldman Sachs Group started coverage on International Business Machines in a research note on Monday, June 24th. They set a “buy” rating and a $200.00 target price for the company. Royal Bank of Canada lifted 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 note on Thursday, July 25th. Finally, StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, International Business Machines presently has an average 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.