Posted by AM Reporter Staff on Jul 15th, 2022

Adell Harriman & Carpenter Inc. raised its holdings in shares of International Business Machines Co. (NYSE:IBM – Get Rating) by 29.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 38,500 shares of the technology company’s stock after purchasing an additional 8,721 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in International Business Machines were worth $5,006,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in IBM. Whittier Trust Co. boosted its stake in International Business Machines by 5.2% during the 4th quarter. Whittier Trust Co. now owns 56,534 shares of the technology company’s stock valued at $7,556,000 after purchasing an additional 2,784 shares during the last quarter. Edge Capital Group LLC boosted its stake in International Business Machines by 32.3% during the 4th quarter. Edge Capital Group LLC now owns 4,563 shares of the technology company’s stock valued at $610,000 after purchasing an additional 1,113 shares during the last quarter. Archford Capital Strategies LLC boosted its stake in shares of International Business Machines by 32.9% in the 4th quarter. Archford Capital Strategies LLC now owns 4,276 shares of the technology company’s stock worth $572,000 after buying an additional 1,059 shares during the last quarter. AE Wealth Management LLC boosted its stake in shares of International Business Machines by 9.9% in the 4th quarter. AE Wealth Management LLC now owns 156,654 shares of the technology company’s stock worth $20,938,000 after buying an additional 14,064 shares during the last quarter. Finally, Patron Partners LLC boosted its stake in shares of International Business Machines by 23.2% in the 4th quarter. Patron Partners LLC now owns 1,861 shares of the technology company’s stock worth $249,000 after buying an additional 350 shares during the last quarter. 55.22% of the stock is currently owned by hedge funds and other institutional investors.

In other news, major shareholder Business Machine International sold 22,301,536 shares of International Business Machines stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of $13.95, for a total value of $311,106,427.20. Following the sale, the insider now directly owns 22,301,536 shares of the company’s stock, valued at $311,106,427.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.04% of the company’s stock.

NYSE:IBM traded up $0.78 on Friday, reaching $139.84. 39,707 shares of the company’s stock traded hands, compared to its average volume of 4,565,696. The company has a quick ratio of 0.87, a current ratio of 0.92 and a debt-to-equity ratio of 2.44. The stock has a 50-day simple moving average of $137.39 and a 200-day simple moving average of $133.13. The firm has a market cap of $125.78 billion, a PE ratio of 22.90, a P/E/G ratio of 1.56 and a beta of 0.93. International Business Machines Co. has a 12 month low of $114.56 and a 12 month high of $146.00.

International Business Machines (NYSE:IBM – Get Rating) last posted its quarterly earnings results on Tuesday, April 19th. The technology company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The business had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $13.84 billion. International Business Machines had a return on equity of 42.14% and a net margin of 8.21%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the firm earned $1.77 earnings per share. Equities research analysts forecast that International Business Machines Co. will post 9.87 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Tuesday, May 10th were issued a $1.65 dividend. This represents a $6.60 annualized dividend and a dividend yield of 4.72%. This is a boost from International Business Machines’s previous quarterly dividend of $1.64. The ex-dividend date was Monday, May 9th. International Business Machines’s payout ratio is 108.20%.

A number of equities analysts have recently issued reports on IBM shares. Credit Suisse Group raised their price target on International Business Machines from $165.00 to $166.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 20th. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday. Bank of America raised their price target on International Business Machines from $162.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, April 20th. Morgan Stanley raised their price target on International Business Machines from $150.00 to $157.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 20th. Finally, Tigress Financial lifted their target price on International Business Machines from $133.00 to $139.00 and gave the company a “neutral” rating in a research report on Thursday, April 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average target price of $147.25.

International Business Machines Corporation provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions, such as Red Hat, an enterprise open-source solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.

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