Carnegie Investment Counsel Raises Stock Holdings in International Business Machines Co. (NYSE:IBM)

Carnegie Investment Counsel lifted its holdings in International Business Machines Co. (NYSE:IBM) by 4.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,446 shares of the technology company’s stock after buying an additional 1,406 shares during the quarter. Carnegie Investment Counsel’s holdings in International Business Machines were worth $8,057,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of IBM. Vanguard Group Inc. grew its stake in International Business Machines by 6.7% in the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after purchasing an additional 5,546,855 shares in the last quarter. Legal & General Group Plc grew its stake in International Business Machines by 4.1% in the second quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock worth $1,467,974,000 after purchasing an additional 330,694 shares in the last quarter. Ameriprise Financial Inc. grew its stake in International Business Machines by 6.4% in the second quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock worth $1,274,074,000 after purchasing an additional 444,698 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in International Business Machines by 6.8% in the second quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock worth $829,431,000 after purchasing an additional 304,390 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in International Business Machines by 151.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after purchasing an additional 2,118,165 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

NYSE IBM opened at $233.26 on Friday. The stock has a 50-day simple moving average of $207.67 and a two-hundred day simple moving average of $187.64. The firm has a market capitalization of $214.27 billion, a P/E ratio of 26.42, a PEG ratio of 5.21 and a beta of 0.70. International Business Machines Co. has a fifty-two week low of $135.87 and a fifty-two week high of $235.83. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. The business had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The company’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the business posted $2.18 EPS. On average, equities analysts forecast that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Analyst Ratings Changes

IBM has been the topic of several research analyst reports. Bernstein Bank increased their price objective on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. Stifel Nicolaus increased their target price on International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. BMO Capital Markets increased their target price on International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Bank of America increased their target price on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $198.41.

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.