Bridges Investment Management Inc. Raises Stake in International Business Machines Co. (NYSE:IBM)

Bridges Investment Management Inc. boosted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 46.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,438 shares of the technology company’s stock after buying an additional 3,936 shares during the quarter. Bridges Investment Management Inc.’s holdings in International Business Machines were worth $2,151,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of IBM. Benjamin F. Edwards & Company Inc. grew its position in International Business Machines by 0.5% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 87,392 shares of the technology company’s stock worth $15,114,000 after purchasing an additional 421 shares during the period. Retirement Investment Advisors Inc. purchased a new stake in shares of International Business Machines in the second quarter worth about $365,000. Trust Investment Advisors grew its holdings in International Business Machines by 4.1% during the second quarter. Trust Investment Advisors now owns 11,147 shares of the technology company’s stock worth $1,928,000 after acquiring an additional 442 shares during the period. Ieq Capital LLC raised its position in International Business Machines by 9.8% during the second quarter. Ieq Capital LLC now owns 40,278 shares of the technology company’s stock valued at $6,966,000 after acquiring an additional 3,600 shares in the last quarter. Finally, Brighton Jones LLC lifted its holdings in International Business Machines by 1.5% in the second quarter. Brighton Jones LLC now owns 17,766 shares of the technology company’s stock valued at $3,073,000 after acquiring an additional 260 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Price Performance

International Business Machines stock opened at $217.63 on Friday. The company has a fifty day simple moving average of $196.52 and a 200-day simple moving average of $184.38. The firm has a market capitalization of $199.92 billion, a price-to-earnings ratio of 24.65, a PEG ratio of 4.67 and a beta of 0.70. 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 Co. has a 52-week low of $135.87 and a 52-week high of $218.84.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.27. The company 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%. International Business Machines’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.18 EPS. On average, equities analysts anticipate that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a $1.67 dividend. This represents a $6.68 annualized dividend 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 subject of several recent research reports. The Goldman Sachs Group initiated coverage on shares of International Business Machines in a report on Monday, June 24th. They set a “buy” rating and a $200.00 target price for the company. Stifel Nicolaus lifted their price objective on shares of International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Finally, UBS Group increased their price target on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. 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. Based on data from MarketBeat, the company 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.