Catalina Capital Group LLC Makes New $445,000 Investment in International Business Machines Co. (NYSE:IBM)

Catalina Capital Group LLC acquired a new stake in International Business Machines Co. (NYSE:IBM) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 2,330 shares of the technology company’s stock, valued at approximately $445,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in International Business Machines by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 82,076,195 shares of the technology company’s stock worth $11,515,290,000 after buying an additional 365,388 shares during the period. Charles Schwab Investment Management Inc. raised its stake in International Business Machines by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,465,214 shares of the technology company’s stock worth $1,048,631,000 after buying an additional 61,028 shares during the period. Norges Bank acquired a new position in International Business Machines during the 4th quarter worth approximately $1,019,009,000. Dimensional Fund Advisors LP increased its holdings in International Business Machines by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,500,184 shares of the technology company’s stock worth $736,015,000 after purchasing an additional 97,482 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in International Business Machines by 15,439.1% during the 4th quarter. International Assets Investment Management LLC now owns 2,653,462 shares of the technology company’s stock worth $433,974,000 after purchasing an additional 2,636,386 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on IBM. Jefferies Financial Group decreased their price objective on International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a report on Tuesday, April 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 target price on shares of International Business Machines in a report on Wednesday, May 22nd. Wedbush upped their target price on International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. BMO Capital Markets reduced their target price on International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a report on Thursday, April 25th. Finally, BNP Paribas started coverage on International Business Machines in a report on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 target price for the company. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $182.53.

International Business Machines Price Performance

IBM traded up $1.38 during trading on Wednesday, reaching $177.86. The stock had a trading volume of 3,461,517 shares, compared to its average volume of 4,463,182. The stock has a market cap of $163.38 billion, a PE ratio of 20.14, a PEG ratio of 4.38 and a beta of 0.71. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13. International Business Machines Co. has a one year low of $132.57 and a one year high of $199.18. The business has a 50-day moving average of $170.27 and a 200-day moving average of $177.29.

International Business Machines (NYSE:IBM) last released its earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The firm’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.36 earnings per share. As a group, equities research analysts anticipate that International Business Machines Co. will post 9.9 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were paid a dividend of $1.67 per share. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date of this dividend was Thursday, May 9th. International Business Machines’s dividend payout ratio (DPR) is 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.