Morningstar Investment Management LLC Takes $521,000 Position in International Business Machines Co. (NYSE:IBM)

Posted by Simon Gomez on May 26th, 2023

Morningstar Investment Management LLC acquired a new position in shares of International Business Machines Co. (NYSE:IBM – Get Rating) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,700 shares of the technology company’s stock, valued at approximately $521,000.

Several other hedge funds have also bought and sold shares of the business. Cantor Fitzgerald Investment Advisor L.P raised its holdings in shares of International Business Machines by 97.6% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 257,335 shares of the technology company’s stock valued at $33,459,000 after purchasing an additional 127,093 shares during the last quarter. Roundview Capital LLC bought a new position in shares of International Business Machines during the first quarter worth $203,000. Sei Investments Co. lifted its position in International Business Machines by 35.7% during the first quarter. Sei Investments Co. now owns 177,599 shares of the technology company’s stock valued at $23,157,000 after purchasing an additional 46,756 shares during the last quarter. Candriam Luxembourg S.C.A. lifted its position in International Business Machines by 1.9% during the first quarter. Candriam Luxembourg S.C.A. now owns 95,662 shares of the technology company’s stock valued at $12,438,000 after purchasing an additional 1,821 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its position in International Business Machines by 1.5% during the first quarter. Baird Financial Group Inc. now owns 382,232 shares of the technology company’s stock valued at $49,698,000 after purchasing an additional 5,506 shares during the last quarter. Institutional investors own 55.90% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on IBM. StockNews.com began coverage on shares of International Business Machines in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Citigroup lifted their target price on shares of International Business Machines from $140.00 to $145.00 and gave the stock a “neutral” rating in a research note on Thursday, January 26th. BMO Capital Markets cut their target price on shares of International Business Machines from $155.00 to $145.00 and set a “market perform” rating for the company in a report on Thursday, April 20th. Evercore ISI cut their price target on shares of International Business Machines from $150.00 to $140.00 and set an “inline” rating for the company in a report on Thursday, April 20th. Finally, Stifel Nicolaus lowered their target price on shares of International Business Machines from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Thursday, April 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $139.20.

International Business Machines Stock Up 2.1 %

Shares of IBM stock traded up $2.65 during trading hours on Friday, reaching $129.41. 2,356,706 shares of the stock were exchanged, compared to its average volume of 4,760,180. The business’s fifty day moving average is $126.61 and its two-hundred day moving average is $134.98. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.16 and a quick ratio of 1.11. The firm has a market capitalization of $117.51 billion, a P/E ratio of 64.81, a P/E/G ratio of 3.32 and a beta of 0.85. International Business Machines Co. has a 12-month low of $115.54 and a 12-month high of $153.21.

International Business Machines (NYSE:IBM – Get Rating) last posted its quarterly earnings data on Wednesday, April 19th. The technology company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.09. The business had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.33 billion. International Business Machines had a return on equity of 39.86% and a net margin of 3.03%. The company’s revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.40 earnings per share. As a group, research analysts expect that International Business Machines Co. will post 9.3 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 10th. Investors of record on Wednesday, May 10th will be issued a dividend of $1.66 per share. The ex-dividend date of this dividend is Tuesday, May 9th. This is an increase from International Business Machines’s previous quarterly dividend of $1.65. This represents a $6.64 annualized dividend and a dividend yield of 5.13%. International Business Machines’s dividend payout ratio (DPR) is currently 337.06%.

About International Business Machines

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International Business Machines Corp. is an information technology company, which engages in the provision of integrated solutions that leverage information technology and knowledge of business processes. It operates through the following segments: Software, Consulting, Infrastructure, Financing, and Other.