Novem Group Has $1.68 Million Stock Holdings in International Business Machines Corporation (NYSE:IBM)

Novem Group boosted its stake in International Business Machines Corporation (NYSE:IBM) by 7.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,737 shares of the technology company’s stock after purchasing an additional 461 shares during the period. Novem Group’s holdings in International Business Machines were worth $1,675,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its holdings in International Business Machines by 12.4% in the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock worth $4,619,000 after purchasing an additional 2,323 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of International Business Machines by 18.6% during the fourth quarter. Fisher Asset Management LLC now owns 18,292 shares of the technology company’s stock worth $4,021,000 after purchasing an additional 2,872 shares during the last quarter. WoodTrust Financial Corp increased its stake in shares of International Business Machines by 8.6% in the fourth quarter. WoodTrust Financial Corp now owns 6,434 shares of the technology company’s stock valued at $1,414,000 after buying an additional 510 shares during the period. J.Safra Asset Management Corp raised its holdings in International Business Machines by 189.2% in the 4th quarter. J.Safra Asset Management Corp now owns 1,608 shares of the technology company’s stock valued at $354,000 after buying an additional 1,052 shares during the last quarter. Finally, Assetmark Inc. raised its holdings in International Business Machines by 5.7% in the 4th quarter. Assetmark Inc. now owns 40,688 shares of the technology company’s stock valued at $8,944,000 after buying an additional 2,210 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Down 1.2%

NYSE IBM opened at $287.79 on Thursday. The stock has a market capitalization of $267.47 billion, a P/E ratio of 49.53, a P/E/G ratio of 6.11 and a beta of 0.69. The business has a 50 day simple moving average of $265.93 and a 200 day simple moving average of $248.79. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97. International Business Machines Corporation has a one year low of $173.95 and a one year high of $296.16.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.18. The firm had revenue of $14.54 billion for the quarter, compared to analysts’ expectations of $14.41 billion. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.68 EPS. Research analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were paid a dividend of $1.68 per share. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.34%. International Business Machines’s dividend payout ratio is currently 115.66%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Wedbush upped their price target on shares of International Business Machines from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, June 20th. Wall Street Zen cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st. KGI Securities set a $242.00 price objective on International Business Machines and gave the company a “hold” rating in a report on Thursday, April 24th. The Goldman Sachs Group lifted their target price on International Business Machines from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Citigroup reissued an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and an average target price of $257.50.

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.