Watershed Asset Management L.L.C. Takes Position in International Business Machines Co. (NYSE:IBM)

Watershed Asset Management L.L.C. acquired a new stake in International Business Machines Co. (NYSE:IBM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,746 shares of the technology company’s stock, valued at approximately $286,000.

Several other hedge funds have also modified their holdings of IBM. Naples Money Management LLC acquired a new stake in International Business Machines in the fourth quarter valued at $28,000. Briaud Financial Planning Inc acquired a new stake in International Business Machines in the third quarter valued at $31,000. Stone House Investment Management LLC raised its stake in International Business Machines by 971.4% in the third quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after buying an additional 204 shares in the last quarter. Financial Gravity Asset Management Inc. raised its stake in International Business Machines by 67.9% in the third quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock valued at $32,000 after buying an additional 91 shares in the last quarter. Finally, Cordant Inc. raised its stake in International Business Machines by 753.3% in the fourth quarter. Cordant Inc. now owns 256 shares of the technology company’s stock valued at $42,000 after buying an additional 226 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Performance

Shares of NYSE IBM traded up $0.29 during midday trading on Tuesday, reaching $182.19. 5,921,450 shares of the company were exchanged, compared to its average volume of 4,773,702. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 2.22. International Business Machines Co. has a 1 year low of $120.55 and a 1 year high of $199.18. The stock has a fifty day simple moving average of $188.35 and a 200 day simple moving average of $169.88. The stock has a market cap of $167.02 billion, a P/E ratio of 22.41, a PEG ratio of 3.57 and a beta of 0.70.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, January 24th. The technology company reported $3.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.78 by $0.09. International Business Machines had a return on equity of 39.55% and a net margin of 12.13%. The firm had revenue of $17.38 billion for the quarter, compared to analyst estimates of $17.29 billion. During the same quarter last year, the company posted $3.60 earnings per share. The business’s revenue was up 4.1% on a year-over-year basis. On average, research analysts forecast that International Business Machines Co. will post 10.04 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, March 9th. Investors of record on Friday, February 9th were issued a dividend of $1.66 per share. This represents a $6.64 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date was Thursday, February 8th. International Business Machines’s dividend payout ratio is currently 81.67%.

Analyst Ratings Changes

A number of analysts have weighed in on IBM shares. BMO Capital Markets raised their price target on International Business Machines from $155.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, January 25th. Royal Bank of Canada raised their price target on International Business Machines from $179.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Sanford C. Bernstein lifted their target price on International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research report on Thursday, March 7th. Stifel Nicolaus reiterated a “buy” rating and set a $190.00 target price on shares of International Business Machines in a research report on Wednesday, April 17th. Finally, UBS Group lifted their target price on International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and an average price target of $177.23.

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.