Kimelman & Baird LLC Makes New Investment in International Business Machines Co. (NYSE:IBM)

Kimelman & Baird LLC purchased a new position in shares of International Business Machines Co. (NYSE:IBM) in the second quarter, HoldingsChannel reports. The fund purchased 103,184 shares of the technology company’s stock, valued at approximately $17,846,000. International Business Machines comprises 1.5% of Kimelman & Baird LLC’s portfolio, making the stock its 26th biggest holding.

Other large investors have also recently bought and sold shares of the company. Mosley Wealth Management purchased a new stake in International Business Machines in the 4th quarter worth approximately $312,000. Hodges Capital Management Inc. lifted its position in shares of International Business Machines by 60.8% in the first quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock valued at $3,921,000 after acquiring an additional 7,768 shares in the last quarter. Burns J W & Co. Inc. NY increased its position in shares of International Business Machines by 10.8% during the first quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock worth $491,000 after purchasing an additional 250 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in International Business Machines in the 2nd quarter valued at $7,160,000. Finally, 1832 Asset Management L.P. purchased a new position in International Business Machines in the 4th quarter valued at $3,017,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

IBM stock opened at $220.84 on Monday. International Business Machines Co. has a 1 year low of $135.87 and a 1 year high of $224.15. The firm 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 company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The business’s 50-day moving average is $200.17 and its two-hundred day moving average is $185.15.

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, topping the consensus estimate of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the previous year, the company earned $2.18 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s payout ratio is 75.65%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on IBM shares. The Goldman Sachs Group assumed 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. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. BMO Capital Markets boosted their target price 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. Stifel Nicolaus lifted their price objective on International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and an average price target of $188.60.

International Business Machines Company 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.