Grandfield & Dodd LLC Increases Position in International Business Machines Corporation (NYSE:IBM)

Grandfield & Dodd LLC lifted its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 2.0% during the first quarter, Holdings Channel reports. The fund owned 2,277 shares of the technology company’s stock after purchasing an additional 45 shares during the quarter. Grandfield & Dodd LLC’s holdings in International Business Machines were worth $566,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of IBM. Capital World Investors increased its position in shares of International Business Machines by 413.5% during the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock worth $2,634,577,000 after acquiring an additional 9,650,534 shares during the last quarter. Norges Bank acquired a new position in shares of International Business Machines during the fourth quarter worth approximately $1,236,176,000. GAMMA Investing LLC boosted its position in shares of International Business Machines by 29,564.2% during the first quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company’s stock worth $10,940,520,000 after buying an additional 4,384,958 shares during the period. Northern Trust Corp boosted its position in shares of International Business Machines by 18.6% during the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock worth $2,384,275,000 after buying an additional 1,704,209 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of International Business Machines by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock worth $20,189,023,000 after buying an additional 1,539,888 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IBM has been the subject of several analyst reports. KGI Securities set a $242.00 price objective on International Business Machines and gave the stock a “hold” rating in a research report on Thursday, April 24th. Citigroup reiterated an “outperform” rating on shares of International Business Machines in a research report on Saturday, May 10th. Melius Research upgraded International Business Machines to a “strong-buy” rating in a research report on Monday, July 7th. BMO Capital Markets reiterated a “market perform” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Finally, UBS Group restated a “sell” rating and issued a $195.00 target price (up from $170.00) on shares of International Business Machines in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $259.06.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $282.62 on Wednesday. International Business Machines Corporation has a one year low of $181.81 and a one year high of $296.16. The stock has a fifty day moving average of $274.53 and a 200-day moving average of $252.94. The company has a market capitalization of $262.67 billion, a PE ratio of 48.64, a price-to-earnings-growth ratio of 5.96 and a beta of 0.69. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.18. The company had revenue of $14.54 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.68 earnings per share. As a group, equities analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.38%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio is presently 115.66%.

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.