Mackenzie Financial Corp Raises Stock Holdings in International Business Machines Corporation (NYSE:IBM)

Mackenzie Financial Corp raised its stake in shares of International Business Machines Corporation (NYSE:IBM) by 134.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,038,427 shares of the technology company’s stock after purchasing an additional 595,194 shares during the quarter. Mackenzie Financial Corp owned 0.11% of International Business Machines worth $258,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Christopher J. Hasenberg Inc bought a new position in International Business Machines in the first quarter valued at $27,000. Measured Risk Portfolios Inc. purchased a new position in shares of International Business Machines in the 4th quarter worth about $43,000. Park Square Financial Group LLC bought a new stake in International Business Machines in the 4th quarter worth approximately $43,000. Mascagni Wealth Management Inc. purchased a new stake in International Business Machines in the fourth quarter worth approximately $43,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in International Business Machines during the first quarter valued at approximately $45,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $259.70 on Monday. International Business Machines Corporation has a 1 year low of $181.81 and a 1 year high of $296.16. The firm’s 50-day moving average is $277.69 and its 200 day moving average is $256.27. The stock has a market cap of $241.36 billion, a price-to-earnings ratio of 42.16, a PEG ratio of 4.01 and a beta of 0.69. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.15. The firm had revenue of $16.98 billion for the quarter, compared to the consensus estimate of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The business’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.43 earnings per share. Sell-side 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. Shareholders of record on Friday, May 9th were given a $1.68 dividend. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a yield of 2.59%. International Business Machines’s payout ratio is 109.09%.

Analysts Set New Price Targets

Several equities analysts recently commented on IBM shares. Jefferies Financial Group reaffirmed a “hold” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Royal Bank Of Canada increased their target price on International Business Machines from $285.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday, July 17th. Stifel Nicolaus raised their price target on shares of International Business Machines from $290.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the company a “hold” rating in a research note on Thursday, April 24th. Finally, Morgan Stanley dropped their target price on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $268.75.

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.