AlphaCrest Capital Management LLC Buys 1,452 Shares of International Business Machines Co. (NYSE:IBM)

Posted by Defense World Staff on Mar 8th, 2023

AlphaCrest Capital Management LLC grew its stake in International Business Machines Co. (NYSE:IBM – Get Rating) by 32.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,879 shares of the technology company’s stock after acquiring an additional 1,452 shares during the quarter. AlphaCrest Capital Management LLC’s holdings in International Business Machines were worth $698,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in International Business Machines by 7.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 16,297,545 shares of the technology company’s stock worth $2,119,007,000 after purchasing an additional 1,105,170 shares in the last quarter. Northern Trust Corp lifted its stake in shares of International Business Machines by 0.9% in the second quarter. Northern Trust Corp now owns 10,658,062 shares of the technology company’s stock worth $1,504,812,000 after buying an additional 93,773 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of International Business Machines by 3.8% during the second quarter. Legal & General Group Plc now owns 6,935,532 shares of the technology company’s stock valued at $979,235,000 after buying an additional 255,499 shares during the last quarter. FMR LLC raised its holdings in International Business Machines by 31.4% in the 2nd quarter. FMR LLC now owns 5,107,664 shares of the technology company’s stock worth $721,150,000 after acquiring an additional 1,221,837 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in International Business Machines by 9.9% in the 3rd quarter. California Public Employees Retirement System now owns 5,028,199 shares of the technology company’s stock valued at $597,400,000 after acquiring an additional 453,519 shares in the last quarter. 55.90% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

Shares of IBM opened at $128.25 on Wednesday. International Business Machines Co. has a 52 week low of $115.54 and a 52 week high of $153.21. The stock has a market cap of $115.95 billion, a price-to-earnings ratio of 72.87, a PEG ratio of 3.35 and a beta of 0.85. The business has a 50-day simple moving average of $137.26 and a two-hundred day simple moving average of $135.54. The company has a quick ratio of 0.87, a current ratio of 0.92 and a debt-to-equity ratio of 2.10.

International Business Machines (NYSE:IBM – Get Rating) last released its earnings results on Wednesday, January 25th. The technology company reported $3.60 EPS for the quarter, missing the consensus estimate of $3.61 by ($0.01). International Business Machines had a return on equity of 41.24% and a net margin of 2.71%. The company had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $16.38 billion. During the same period last year, the firm posted $3.35 EPS. International Business Machines’s quarterly revenue was up .0% compared to the same quarter last year. On average, analysts expect that International Business Machines Co. will post 9.46 EPS for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 10th. Shareholders of record on Friday, February 10th will be given a dividend of $1.65 per share. This represents a $6.60 dividend on an annualized basis and a yield of 5.15%. The ex-dividend date is Thursday, February 9th. International Business Machines’s dividend payout ratio (DPR) is 375.00%.

Analysts Set New Price Targets

A number of analysts have commented on IBM shares. Evercore ISI lifted their target price on International Business Machines from $135.00 to $150.00 in a report on Tuesday, January 17th. Moffett Nathanson raised International Business Machines from an “underperform” rating to a “market perform” rating and set a $140.00 target price for the company in a research report on Tuesday, January 24th. Edward Jones downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Monday, February 6th. Citigroup boosted their price objective on shares of International Business Machines from $140.00 to $145.00 and gave the company a “neutral” rating in a report on Thursday, January 26th. Finally, Stifel Nicolaus raised their target price on shares of International Business Machines from $140.00 to $158.00 and gave the stock a “buy” rating in a report on Monday, January 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $142.73.

International Business Machines Profile

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International Business Machines Corp. is an information technology company, which provides integrated solutions that leverage information technology and knowledge of business processes. It operates through the following segments: Software, Consulting, Infrastructure, Financing, and Other. The Software segment combines hybrid cloud platform and software solutions to help clients become more data-driven, and to automate, secure and modernize their environments.