M&G Plc Takes $16.33 Million Position in International Business Machines Co. (NYSE:IBM)

M&G Plc purchased a new position in International Business Machines Co. (NYSE:IBM) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 85,493 shares of the technology company’s stock, valued at approximately $16,329,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IBM. FPC Investment Advisory Inc. bought a new position in shares of International Business Machines during the first quarter valued at $26,000. Naples Money Management LLC purchased a new position in International Business Machines in the fourth quarter worth about $28,000. Creekmur Asset Management LLC bought a new position in shares of International Business Machines in the fourth quarter worth approximately $29,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of International Business Machines during the fourth quarter valued at approximately $31,000. Finally, Financial Synergies Wealth Advisors Inc. increased 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 acquiring an additional 123 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

International Business Machines stock traded down $1.97 during trading on Friday, reaching $183.25. The company had a trading volume of 3,816,039 shares, compared to its average volume of 3,452,805. The firm’s 50-day simple moving average is $172.83 and its 200 day simple moving average is $178.30. International Business Machines Co. has a 52 week low of $135.87 and a 52 week high of $199.18. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32. The firm has a market capitalization of $168.33 billion, a price-to-earnings ratio of 20.75, a price-to-earnings-growth ratio of 4.52 and a beta of 0.71.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. The firm 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 business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.36 EPS. Sell-side analysts forecast that International Business Machines Co. will post 9.89 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors 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. The ex-dividend date was Thursday, May 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.65%. International Business Machines’s payout ratio is 75.65%.

Analyst Ratings Changes

Several equities analysts recently issued reports on IBM shares. Jefferies Financial Group lowered their price objective on International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a research report on Tuesday, April 23rd. Morgan Stanley lowered their price target on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of International Business Machines in a research note on Wednesday, May 22nd. Finally, Wedbush lifted their price target on shares of International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $182.53.

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.