Van ECK Associates Corp Purchases 43,804 Shares of International Business Machines Co. (NYSE:IBM)

Van ECK Associates Corp increased its position in shares of International Business Machines Co. (NYSE:IBM) by 28.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 199,960 shares of the technology company’s stock after acquiring an additional 43,804 shares during the period. Van ECK Associates Corp’s holdings in International Business Machines were worth $46,541,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in IBM. Nordea Investment Management AB boosted its stake in International Business Machines by 3.3% in the first quarter. Nordea Investment Management AB now owns 66,975 shares of the technology company’s stock valued at $12,790,000 after buying an additional 2,125 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of International Business Machines by 28.1% in the 1st quarter. Jennison Associates LLC now owns 447,609 shares of the technology company’s stock valued at $85,475,000 after purchasing an additional 98,297 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of International Business Machines by 1.4% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 29,292 shares of the technology company’s stock valued at $5,594,000 after purchasing an additional 393 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in International Business Machines in the 1st quarter valued at approximately $226,000. Finally, Comprehensive Financial Consultants Institutional Inc. acquired a new stake in International Business Machines in the first quarter valued at approximately $222,000. 58.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

IBM has been the subject of several research analyst reports. The Goldman Sachs Group upped their price target on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a research report on Wednesday, October 2nd. Morgan Stanley reduced their price target on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Bank of America upped their price objective on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $208.12.

International Business Machines Stock Up 0.7 %

Shares of NYSE:IBM opened at $208.25 on Monday. The business’s 50-day moving average is $216.84 and its 200-day moving average is $191.35. International Business Machines Co. has a 1 year low of $144.84 and a 1 year high of $237.37. The company has a market capitalization of $192.56 billion, a price-to-earnings ratio of 30.31, a P/E/G ratio of 4.64 and a beta of 0.71. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The firm had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.20 EPS. Equities research analysts predict that International Business Machines Co. will post 10.11 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be paid a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 3.21%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is currently 97.23%.

About International Business Machines

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.