International Business Machines Corporation (NYSE:IBM) Shares Bought by Terra Nova Asset Management LLC

Terra Nova Asset Management LLC raised its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 6.3% during the first quarter, HoldingsChannel.com reports. The firm owned 11,531 shares of the technology company’s stock after buying an additional 687 shares during the period. International Business Machines accounts for 2.3% of Terra Nova Asset Management LLC’s portfolio, making the stock its 14th biggest position. Terra Nova Asset Management LLC’s holdings in International Business Machines were worth $2,867,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in IBM. Vision Financial Markets LLC acquired a new position in International Business Machines during the 4th quarter valued at about $31,000. Rialto Wealth Management LLC acquired a new position in shares of International Business Machines during the fourth quarter valued at about $35,000. Tacita Capital Inc raised its position in shares of International Business Machines by 174.3% in the 4th quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock valued at $42,000 after purchasing an additional 122 shares during the last quarter. Measured Risk Portfolios Inc. acquired a new stake in International Business Machines in the 4th quarter worth approximately $43,000. Finally, Park Square Financial Group LLC acquired a new stake in International Business Machines in the 4th quarter worth approximately $43,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Citigroup restated an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. BMO Capital Markets reissued a “market perform” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Bank of America lifted their price target on International Business Machines from $290.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, June 18th. UBS Group reissued a “sell” rating and issued a $170.00 price objective (up from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, KGI Securities set a $242.00 target price on International Business Machines and gave the stock a “hold” rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $253.75.

International Business Machines Stock Down 0.8%

NYSE IBM opened at $291.38 on Thursday. The business’s fifty day simple moving average is $260.83 and its 200-day simple moving average is $246.71. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. The firm has a market cap of $270.81 billion, a PE ratio of 50.15, a P/E/G ratio of 6.17 and a beta of 0.66. International Business Machines Corporation has a 52 week low of $170.41 and a 52 week high of $296.16.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.18. The company had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. International Business Machines’s revenue was up .5% on a year-over-year basis. During the same period in the previous year, the business posted $1.68 EPS. As a group, equities analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a dividend of $1.68 per share. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.31%. International Business Machines’s dividend payout ratio (DPR) is 115.66%.

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.