Fairscale Capital LLC Acquires Shares of 390 International Business Machines Co. (NYSE:IBM)

Fairscale Capital LLC bought a new position in International Business Machines Co. (NYSE:IBM) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 390 shares of the technology company’s stock, valued at approximately $72,000.

Several other institutional investors and hedge funds have also made changes to their positions in IBM. Vanguard Group Inc. grew its holdings in International Business Machines by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after buying an additional 5,546,855 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of International Business Machines by 151.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock valued at $671,352,000 after purchasing an additional 2,118,165 shares during the period. Thrivent Financial for Lutherans increased its position in International Business Machines by 306.3% during the second quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock worth $242,441,000 after purchasing an additional 1,056,759 shares during the last quarter. Strategic Financial Concepts LLC raised its stake in International Business Machines by 12,282.2% during the second quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock worth $817,000 after purchasing an additional 468,567 shares during the period. Finally, National Bank of Canada FI grew its stake in shares of International Business Machines by 79.4% in the 1st quarter. National Bank of Canada FI now owns 922,496 shares of the technology company’s stock valued at $176,160,000 after buying an additional 408,230 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Trading Up 1.8 %

NYSE:IBM opened at $217.70 on Monday. The stock has a fifty day moving average price of $196.52 and a 200 day moving average price of $184.24. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. International Business Machines Co. has a 12-month low of $135.87 and a 12-month high of $218.84. The firm has a market cap of $199.98 billion, a PE 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 announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping 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 the consensus estimate of $15.62 billion. During the same period in the previous year, the company posted $2.18 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. Sell-side analysts anticipate that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders 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 3.07%. International Business Machines’s payout ratio is 75.65%.

Analysts Set New Price Targets

IBM has been the topic of a number of recent analyst reports. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. BMO Capital Markets increased their price target 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 initiated coverage on shares of International Business Machines in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 price objective on the stock. UBS Group lifted their price target on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. Finally, Evercore ISI upped their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $188.60.

International Business Machines Profile

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.