Rakuten Investment Management Inc. Raises Position in International Business Machines Corporation $IBM

Rakuten Investment Management Inc. raised its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 1,977.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 122,828 shares of the technology company’s stock after acquiring an additional 116,916 shares during the quarter. Rakuten Investment Management Inc.’s holdings in International Business Machines were worth $37,553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. CVA Family Office LLC boosted its stake in shares of International Business Machines by 1.4% during the 4th quarter. CVA Family Office LLC now owns 2,389 shares of the technology company’s stock worth $708,000 after acquiring an additional 33 shares during the last quarter. Foster Group Inc. lifted its stake in shares of International Business Machines by 1.3% during the 4th quarter. Foster Group Inc. now owns 2,507 shares of the technology company’s stock valued at $742,000 after buying an additional 33 shares in the last quarter. New Covenant Trust Company N.A. lifted its stake in shares of International Business Machines by 3.8% during the 4th quarter. New Covenant Trust Company N.A. now owns 905 shares of the technology company’s stock valued at $264,000 after buying an additional 33 shares in the last quarter. McGowan Group Asset Management Inc. lifted its stake in shares of International Business Machines by 1.2% during the 4th quarter. McGowan Group Asset Management Inc. now owns 2,693 shares of the technology company’s stock valued at $798,000 after buying an additional 33 shares in the last quarter. Finally, Altman Advisors Inc. lifted its stake in shares of International Business Machines by 0.3% during the 3rd quarter. Altman Advisors Inc. now owns 9,929 shares of the technology company’s stock valued at $2,802,000 after buying an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on IBM shares. Barclays started coverage on shares of International Business Machines in a research note on Monday, June 1st. They set an “overweight” rating and a $350.00 target price on the stock. Erste Group Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Roth Mkm reiterated a “buy” rating on shares of International Business Machines in a report on Wednesday, June 3rd. UBS Group upgraded shares of International Business Machines from a “sell” rating to a “neutral” rating and set a $236.00 price target on the stock in a report on Wednesday, February 25th. Finally, Wall Street Zen downgraded shares of International Business Machines from a “hold” rating to a “sell” rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $304.17.

International Business Machines Stock Performance

Shares of NYSE:IBM opened at $268.19 on Tuesday. The company has a market capitalization of $252.07 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 2.82 and a beta of 0.66. International Business Machines Corporation has a 12 month low of $212.34 and a 12 month high of $332.46. The firm’s 50-day moving average is $250.42 and its 200 day moving average is $269.84. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, April 22nd. The technology company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.10. The business had revenue of $15.92 billion for the quarter, compared to the consensus estimate of $15.60 billion. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.60 EPS. Research analysts predict that International Business Machines Corporation will post 12.38 EPS for the current year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 8th were given a $1.69 dividend. This represents a $6.76 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from International Business Machines’s previous quarterly dividend of $1.68. International Business Machines’s payout ratio is currently 59.77%.

International Business Machines Company Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.