Lifeworks Advisors LLC Purchases 2,561 Shares of International Business Machines Corporation (NYSE:IBM)

Lifeworks Advisors LLC increased its stake in International Business Machines Corporation (NYSE:IBM) by 7.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,887 shares of the technology company’s stock after buying an additional 2,561 shares during the quarter. International Business Machines comprises approximately 1.5% of Lifeworks Advisors LLC’s holdings, making the stock its 13th largest holding. Lifeworks Advisors LLC’s holdings in International Business Machines were worth $8,924,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Capital World Investors increased its stake 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 valued at $2,634,577,000 after buying an additional 9,650,534 shares during the period. Norges Bank purchased a new position in International Business Machines in the fourth quarter valued at about $1,236,176,000. GAMMA Investing LLC grew its stake in International Business Machines by 29,564.2% in the first quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company’s stock valued at $10,940,520,000 after purchasing an additional 4,384,958 shares during the last quarter. Northern Trust Corp grew its stake in International Business Machines by 18.6% in the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock valued at $2,384,275,000 after purchasing an additional 1,704,209 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC acquired a new stake in International Business Machines in the fourth quarter worth about $302,564,000. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Trading Down 8.5%

IBM opened at $258.00 on Thursday. The company has a market cap of $239.79 billion, a P/E ratio of 44.41, a PEG ratio of 6.01 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 Corporation has a one year low of $181.81 and a one year high of $296.16. The business’s 50-day simple moving average is $277.95 and its 200-day simple moving average is $255.30.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.65 by $0.15. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The firm had revenue of $16.98 billion during the quarter, compared to analysts’ expectations of $16.58 billion. During the same period in the prior year, the firm earned $2.43 EPS. The business’s revenue was up 7.7% on a year-over-year basis. As a group, equities research analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were given a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.60%. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio (DPR) is presently 115.66%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Melius Research raised International Business Machines to a “strong-buy” rating in a report on Monday, July 7th. Citigroup reaffirmed an “outperform” rating on shares of International Business Machines in a report on Saturday, May 10th. 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. Bank of America decreased their target price on International Business Machines from $320.00 to $310.00 and set a “buy” rating for the company in a report on Thursday. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. 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 two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $265.56.

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.