Reynders McVeigh Capital Management LLC Acquires 4,047 Shares of International Business Machines Corporation $IBM

Reynders McVeigh Capital Management LLC lifted its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 3.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 125,244 shares of the technology company’s stock after acquiring an additional 4,047 shares during the quarter. International Business Machines makes up 1.8% of Reynders McVeigh Capital Management LLC’s portfolio, making the stock its 19th biggest position. Reynders McVeigh Capital Management LLC’s holdings in International Business Machines were worth $36,919,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Lifestyle Asset Management Inc. lifted its position in shares of International Business Machines by 1.7% in the 2nd quarter. Lifestyle Asset Management Inc. now owns 2,144 shares of the technology company’s stock worth $632,000 after purchasing an additional 36 shares during the period. Whelan Financial raised its stake in International Business Machines by 2.4% in the second quarter. Whelan Financial now owns 1,525 shares of the technology company’s stock worth $450,000 after buying an additional 36 shares in the last quarter. Ignite Planners LLC lifted its holdings in International Business Machines by 0.9% in the second quarter. Ignite Planners LLC now owns 3,964 shares of the technology company’s stock worth $1,133,000 after buying an additional 36 shares during the period. Blue Edge Capital LLC boosted its position in International Business Machines by 0.6% during the 1st quarter. Blue Edge Capital LLC now owns 6,776 shares of the technology company’s stock valued at $1,685,000 after acquiring an additional 39 shares in the last quarter. Finally, Johnson Bixby & Associates LLC grew its holdings in shares of International Business Machines by 3.3% during the 2nd quarter. Johnson Bixby & Associates LLC now owns 1,208 shares of the technology company’s stock worth $356,000 after acquiring an additional 39 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

NYSE:IBM opened at $309.33 on Monday. The stock’s 50 day simple moving average is $299.47 and its two-hundred day simple moving average is $278.32. International Business Machines Corporation has a 1 year low of $214.50 and a 1 year high of $324.90. The company has a market cap of $289.14 billion, a price-to-earnings ratio of 37.00, a PEG ratio of 3.08 and a beta of 0.69. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.93 and a quick ratio of 0.89.

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

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Monday, November 10th were issued a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.2%. The ex-dividend date was Monday, November 10th. International Business Machines’s dividend payout ratio is presently 80.38%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on IBM shares. Stifel Nicolaus raised their target price on International Business Machines from $295.00 to $325.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. Royal Bank Of Canada lowered their price target on International Business Machines from $315.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, October 23rd. Morgan Stanley reduced their price objective on International Business Machines from $256.00 to $252.00 and set an “equal weight” rating for the company in a research report on Thursday, October 23rd. UBS Group reiterated a “sell” rating on shares of International Business Machines in a research note on Tuesday, December 9th. Finally, Bank of America boosted their price target on International Business Machines from $310.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $293.38.

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.