Sanctuary Advisors LLC Takes Position in International Business Machines Co. (NYSE:IBM)

Sanctuary Advisors LLC bought a new stake in International Business Machines Co. (NYSE:IBM) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 239,743 shares of the technology company’s stock, valued at approximately $40,068,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of IBM. CIBC Private Wealth Group LLC lifted its stake in shares of International Business Machines by 0.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 462,553 shares of the technology company’s stock valued at $75,651,000 after acquiring an additional 3,352 shares during the last quarter. Edge Capital Group LLC raised its position in International Business Machines by 4.0% during the 4th quarter. Edge Capital Group LLC now owns 19,422 shares of the technology company’s stock valued at $3,177,000 after purchasing an additional 740 shares during the last quarter. Lake Street Advisors Group LLC bought a new position in International Business Machines during the 4th quarter valued at approximately $579,000. Tower Research Capital LLC TRC raised its position in International Business Machines by 286.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 151,442 shares of the technology company’s stock valued at $24,768,000 after purchasing an additional 112,275 shares during the last quarter. Finally, Bedell Frazier Investment Counselling LLC raised its position in International Business Machines by 138.7% during the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 40,491 shares of the technology company’s stock valued at $6,622,000 after purchasing an additional 23,531 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

International Business Machines stock opened at $219.36 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The company has a market capitalization of $201.50 billion, a P/E ratio of 24.84, a PEG ratio of 4.90 and a beta of 0.70. The stock’s 50 day moving average is $201.62 and its 200 day moving average is $185.54. International Business Machines Co. has a twelve month low of $135.87 and a twelve month high of $224.15.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.27. The company had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.18 EPS. On average, equities research analysts predict that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a $1.67 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.05%. International Business Machines’s payout ratio is currently 75.65%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. The Goldman Sachs Group upped their price target on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday. 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. Evercore ISI upped their price target on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Finally, UBS Group upped their price target on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $191.93.

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.