International Business Machines Co. (NYSE:IBM) Shares Acquired by Convergence Investment Partners LLC4 min read
Convergence Investment Partners LLC lifted its holdings in International Business Machines Co. (NYSE:IBM – Get Rating) by 22.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,517 shares of the technology company’s stock after acquiring an additional 3,737 shares during the quarter. International Business Machines accounts for 1.4% of Convergence Investment Partners LLC’s holdings, making the stock its 12th biggest position. Convergence Investment Partners LLC’s holdings in International Business Machines were worth $2,742,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB boosted its holdings in International Business Machines by 92.8% in the 3rd quarter. Nordea Investment Management AB now owns 6,834,777 shares of the technology company’s stock valued at $956,458,000 after purchasing an additional 3,290,542 shares during the last quarter. BlackRock Inc. increased its stake in International Business Machines by 1.1% during the third quarter. BlackRock Inc. now owns 64,528,194 shares of the technology company’s stock worth $8,964,901,000 after acquiring an additional 722,962 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in shares of International Business Machines by 490.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 758,286 shares of the technology company’s stock valued at $58,434,000 after purchasing an additional 629,916 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of International Business Machines by 10.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,610,624 shares of the technology company’s stock worth $640,574,000 after purchasing an additional 439,743 shares during the period. Finally, Deutsche Bank AG raised its holdings in International Business Machines by 13.7% in the 3rd quarter. Deutsche Bank AG now owns 3,413,011 shares of the technology company’s stock valued at $474,169,000 after buying an additional 412,405 shares during the period. Institutional investors own 54.91% of the company’s stock.
NYSE IBM traded up $2.11 on Friday, hitting $131.36. 215,023 shares of the company’s stock were exchanged, compared to its average volume of 5,678,574. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.88 and a quick ratio of 0.83. International Business Machines Co. has a fifty-two week low of $114.56 and a fifty-two week high of $152.84. The firm has a market cap of $118.13 billion, a price-to-earnings ratio of 20.35, a P/E/G ratio of 1.18 and a beta of 1.10. The firm’s 50-day moving average price is $129.26 and its two-hundred day moving average price is $129.85.
International Business Machines (NYSE:IBM – Get Rating) last released its quarterly earnings data on Monday, January 24th. The technology company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.04). International Business Machines had a return on equity of 42.49% and a net margin of 8.11%. The company had revenue of $16.70 billion for the quarter, compared to analysts’ expectations of $15.96 billion. During the same period in the prior year, the firm posted $2.07 EPS. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. On average, research analysts predict that International Business Machines Co. will post 10.09 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 10th. Investors of record on Friday, February 11th were issued a dividend of $1.64 per share. The ex-dividend date was Thursday, February 10th. This represents a $6.56 annualized dividend and a yield of 4.99%. International Business Machines’s dividend payout ratio is presently 103.31%.
A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of International Business Machines in a research note on Sunday, January 9th. They issued a “neutral” rating and a $140.00 price target on the stock. Evercore ISI started coverage on International Business Machines in a research report on Thursday, December 2nd. They set a “positive” rating and a $125.00 price target for the company. Stifel Nicolaus decreased their target price on International Business Machines from $151.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, December 15th. BMO Capital Markets lifted their target price on International Business Machines from $153.00 to $155.00 and gave the company a “market perform” rating in a research report on Tuesday, January 25th. Finally, UBS Group lowered their price objective on shares of International Business Machines from $124.00 to $118.00 in a research note on Tuesday, January 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $146.45.
International Business Machines Company Profile (Get Rating)
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: Cloud and Cognitive Software, Global Business Services, Global Technology Services, Systems, and Global Financing.
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