2,504 Shares in International Business Machines Corporation $IBM Acquired by Tripletail Wealth Management LLC

Tripletail Wealth Management LLC purchased a new stake in International Business Machines Corporation (NYSE:IBM) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 2,504 shares of the technology company’s stock, valued at approximately $738,000. International Business Machines comprises about 1.1% of Tripletail Wealth Management LLC’s portfolio, making the stock its 23rd largest holding.

Several other hedge funds have also made changes to their positions in IBM. Vanguard Group Inc. increased its stake in International Business Machines by 2.1% in the second quarter. Vanguard Group Inc. now owns 95,051,475 shares of the technology company’s stock valued at $28,019,274,000 after purchasing an additional 1,913,708 shares during the last quarter. State Street Corp grew its holdings in International Business Machines by 0.3% in the 2nd quarter. State Street Corp now owns 54,536,963 shares of the technology company’s stock valued at $16,076,406,000 after buying an additional 147,721 shares during the period. Geode Capital Management LLC increased its stake in shares of International Business Machines by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 21,936,235 shares of the technology company’s stock valued at $6,444,527,000 after acquiring an additional 400,131 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of International Business Machines by 6.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,636,725 shares of the technology company’s stock valued at $2,147,608,000 after acquiring an additional 524,633 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of International Business Machines by 3.4% during the 2nd quarter. Legal & General Group Plc now owns 7,126,503 shares of the technology company’s stock worth $2,100,751,000 after acquiring an additional 234,318 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on IBM shares. Wall Street Zen upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Sunday, October 26th. Sanford C. Bernstein began coverage on shares of International Business Machines in a report on Monday, September 15th. They issued a “market perform” rating and a $280.00 price target on the stock. Royal Bank Of Canada dropped their price objective on International Business Machines from $315.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday, October 23rd. Morgan Stanley cut their target price on International Business Machines from $256.00 to $252.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 23rd. Finally, Erste Group Bank raised International Business Machines from a “hold” rating to a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $293.38.

International Business Machines Stock Performance

NYSE:IBM opened at $309.26 on Tuesday. The firm’s fifty day simple moving average is $297.50 and its 200 day simple moving average is $276.90. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 1.97. International Business Machines Corporation has a twelve month low of $214.50 and a twelve month high of $324.90. The firm has a market capitalization of $289.07 billion, a price-to-earnings ratio of 36.99, a PEG ratio of 3.07 and a beta of 0.69.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 22nd. The technology company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.45 by $0.20. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.The company had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.10 billion. During the same period last year, the company posted $2.30 earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year. As a group, equities research analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th will be issued a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Monday, November 10th. International Business Machines’s dividend payout ratio is currently 80.38%.

International Business Machines 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.