Bridgeway Capital Management LLC Makes New $20.51 Million Investment in International Business Machines Corporation $IBM

Bridgeway Capital Management LLC bought a new position in shares of International Business Machines Corporation (NYSE:IBM) during the second quarter, Holdings Channel.com reports. The fund bought 69,579 shares of the technology company’s stock, valued at approximately $20,510,000. International Business Machines accounts for approximately 0.5% of Bridgeway Capital Management LLC’s portfolio, making the stock its 29th biggest holding.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in International Business Machines by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 95,051,475 shares of the technology company’s stock worth $28,019,274,000 after buying an additional 1,913,708 shares during the last quarter. State Street Corp boosted its holdings in shares of International Business Machines by 0.3% in the second quarter. State Street Corp now owns 54,536,963 shares of the technology company’s stock valued at $16,076,406,000 after acquiring an additional 147,721 shares during the period. Geode Capital Management LLC grew its position in shares of International Business Machines by 1.9% during the second quarter. Geode Capital Management LLC now owns 21,936,235 shares of the technology company’s stock worth $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 holdings in shares of International Business Machines by 6.5% in 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 period. Finally, Legal & General Group Plc increased its holdings in shares of International Business Machines by 3.4% in the 2nd quarter. Legal & General Group Plc now owns 7,126,503 shares of the technology company’s stock valued at $2,100,751,000 after acquiring an additional 234,318 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Trading Down 0.5%

Shares of International Business Machines stock opened at $309.33 on Friday. International Business Machines Corporation has a fifty-two week low of $214.50 and a fifty-two week high of $324.90. The business’s fifty day moving average is $299.47 and its two-hundred day moving average is $278.09. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 1.97. The firm has a market cap of $289.14 billion, a PE ratio of 37.00, a P/E/G ratio of 3.09 and a beta of 0.69.

International Business Machines (NYSE:IBM) last released its earnings results 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 firm had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.10 billion. During the same period in the prior year, the firm posted $2.30 earnings per share. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. Analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th were paid a dividend of $1.68 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.2%. International Business Machines’s dividend payout ratio is currently 80.38%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Oppenheimer initiated coverage on shares of International Business Machines in a research report on Friday, November 21st. They set an “outperform” rating and a $360.00 price objective on the stock. Erste Group Bank raised International Business Machines from a “hold” rating to a “buy” rating in a report on Friday, December 5th. Weiss Ratings upgraded International Business Machines from a “hold (c+)” rating to a “buy (b)” rating in a research report on Saturday, October 25th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of International Business Machines in a research report on Wednesday. Finally, Morgan Stanley dropped their target price on International Business Machines from $256.00 to $252.00 and set an “equal weight” rating on the stock in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, International Business Machines has a consensus rating of “Moderate Buy” and a consensus target price of $293.38.

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.