Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of International Business Machines Co. (NYSE:IBM – Free Report) by 39.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,781 shares of the technology company’s stock after buying an additional 4,989 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in International Business Machines were worth $2,379,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in IBM. Fiduciary Alliance LLC purchased a new stake in shares of International Business Machines during the second quarter valued at $25,000. Live Oak Investment Partners purchased a new stake in shares of International Business Machines during the fourth quarter valued at $30,000. GW&K Investment Management LLC purchased a new stake in shares of International Business Machines during the first quarter valued at $33,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of International Business Machines during the second quarter valued at $34,000. Finally, First Command Advisory Services Inc. purchased a new stake in shares of International Business Machines during the first quarter valued at $37,000. 56.16% of the stock is owned by hedge funds and other institutional investors.
International Business Machines Trading Up 0.4 %
Shares of International Business Machines stock opened at $142.03 on Monday. The firm has a 50-day simple moving average of $144.57 and a two-hundred day simple moving average of $135.54. The company has a market cap of $129.39 billion, a P/E ratio of 65.75, a price-to-earnings-growth ratio of 3.61 and a beta of 0.85. International Business Machines Co. has a fifty-two week low of $115.54 and a fifty-two week high of $153.21. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.01 and a current ratio of 1.06.
International Business Machines Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Saturday, September 9th. Investors of record on Thursday, August 10th were given a dividend of $1.66 per share. The ex-dividend date was Wednesday, August 9th. This represents a $6.64 annualized dividend and a dividend yield of 4.68%. International Business Machines’s dividend payout ratio (DPR) is presently 307.41%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on IBM shares. Stifel Nicolaus boosted their price objective on shares of International Business Machines from $140.00 to $144.00 and gave the company a “buy” rating in a report on Thursday, July 20th. JPMorgan Chase & Co. started coverage on shares of International Business Machines in a research report on Friday, July 7th. They set a “neutral” rating and a $145.00 target price for the company. Morgan Stanley restated an “equal weight” rating and set a $135.00 target price on shares of International Business Machines in a research report on Thursday, July 20th. BMO Capital Markets boosted their target price on shares of International Business Machines from $145.00 to $150.00 and gave the company a “market perform” rating in a research report on Monday, July 17th. Finally, Bank of America boosted their target price on shares of International Business Machines from $152.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus target price of $146.67.
Get Our Latest Analysis on IBM
About International Business Machines
International Business Machines Corporation, together with its subsidiaries, 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; 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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