Metis Global Partners LLC Acquires 8,384 Shares of International Business Machines Corporation (NYSE:IBM)

Metis Global Partners LLC increased its holdings in International Business Machines Corporation (NYSE:IBM) by 13.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,348 shares of the technology company’s stock after purchasing an additional 8,384 shares during the period. International Business Machines makes up 0.5% of Metis Global Partners LLC’s investment portfolio, making the stock its 28th biggest holding. Metis Global Partners LLC’s holdings in International Business Machines were worth $17,493,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of IBM. Christopher J. Hasenberg Inc acquired a new position in shares of International Business Machines during the 1st quarter valued at about $27,000. Measured Risk Portfolios Inc. bought a new stake in International Business Machines during the fourth quarter worth approximately $43,000. Park Square Financial Group LLC acquired a new position in International Business Machines during the fourth quarter valued at approximately $43,000. Mascagni Wealth Management Inc. bought a new position in shares of International Business Machines in the fourth quarter valued at approximately $43,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of International Business Machines in the first quarter worth $45,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Trading Down 0.3%

Shares of International Business Machines stock opened at $259.70 on Friday. The company’s fifty day moving average price is $277.69 and its two-hundred day moving average price is $256.04. The firm has a market capitalization of $241.36 billion, a PE ratio of 42.16, a price-to-earnings-growth ratio of 5.50 and a beta of 0.69. International Business Machines Corporation has a 52-week low of $181.81 and a 52-week high of $296.16. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.97.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.65 by $0.15. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The business had revenue of $16.98 billion for the quarter, compared to analysts’ expectations of $16.58 billion. During the same quarter in the previous year, the firm posted $2.43 earnings per share. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, analysts expect that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The business 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 is a boost from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.59%. International Business Machines’s dividend payout ratio is presently 109.09%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on IBM shares. Bank of America lowered their target price on shares of International Business Machines from $320.00 to $310.00 and set a “buy” rating on the stock in a research note on Thursday. 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 report on Friday, June 20th. Wall Street Zen upgraded International Business Machines from a “hold” rating to a “buy” rating in a research note on Saturday. Royal Bank Of Canada boosted their price objective on International Business Machines from $285.00 to $315.00 and gave the stock an “outperform” rating in a research report on Thursday, July 17th. Finally, BMO Capital Markets raised their target price on International Business Machines from $260.00 to $300.00 and gave the company a “market perform” rating in a report on Friday, July 18th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $268.75.

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.