International Business Machines Co. (NYSE:IBM) Shares Purchased by Van Hulzen Asset Management LLC

Van Hulzen Asset Management LLC raised its position in International Business Machines Co. (NYSE:IBM) by 44.8% in the second quarter, HoldingsChannel reports. The fund owned 261,410 shares of the technology company’s stock after purchasing an additional 80,905 shares during the quarter. International Business Machines makes up approximately 3.0% of Van Hulzen Asset Management LLC’s holdings, making the stock its 5th largest holding. Van Hulzen Asset Management LLC’s holdings in International Business Machines were worth $45,211,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in IBM. FPC Investment Advisory Inc. acquired a new stake in International Business Machines in the first quarter valued at approximately $26,000. ESL Trust Services LLC purchased a new position in shares of International Business Machines during the first quarter valued at approximately $28,000. Creekmur Asset Management LLC purchased a new position in shares of International Business Machines during the fourth quarter valued at approximately $29,000. Ables Iannone Moore & Associates Inc. purchased a new position in shares of International Business Machines during the fourth quarter valued at approximately $31,000. Finally, Financial Synergies Wealth Advisors Inc. boosted its position in shares of International Business Machines by 164.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after buying an additional 123 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analysts Set New Price Targets

IBM has been the topic of several analyst reports. BMO Capital Markets lifted 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. UBS Group lifted their target price on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. Royal Bank of Canada lifted their target price on International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. The Goldman Sachs Group initiated coverage on International Business Machines in a research report on Monday, June 24th. They set a “buy” rating and a $200.00 target price on the stock. Finally, Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, International Business Machines has an average rating of “Hold” and an average target price of $185.93.

International Business Machines Stock Performance

Shares of IBM opened at $203.53 on Tuesday. The firm has a market cap of $187.48 billion, a PE ratio of 23.05, a PEG ratio of 4.47 and a beta of 0.70. The stock’s fifty day moving average price is $190.09 and its two-hundred day moving average price is $182.66. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. International Business Machines Co. has a 1 year low of $135.87 and a 1 year high of $205.95.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.27. The firm had revenue of $15.77 billion for 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 business’s revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.18 earnings per share. On average, equities research analysts forecast that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be paid a $1.67 dividend. The ex-dividend date is Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.28%. International Business Machines’s payout ratio is presently 75.65%.

International Business Machines 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.