TD Asset Management Inc Buys 24,818 Shares of International Business Machines Co. (NYSE:IBM)

TD Asset Management Inc lifted its stake in shares of International Business Machines Co. (NYSE:IBM) by 4.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 620,636 shares of the technology company’s stock after buying an additional 24,818 shares during the period. TD Asset Management Inc owned about 0.07% of International Business Machines worth $107,339,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Arbor Trust Wealth Advisors LLC raised its position in International Business Machines by 3.4% in the second quarter. Arbor Trust Wealth Advisors LLC now owns 4,634 shares of the technology company’s stock valued at $801,000 after purchasing an additional 154 shares during the last quarter. Stablepoint Partners LLC increased its stake in shares of International Business Machines by 7.5% in the second quarter. Stablepoint Partners LLC now owns 5,252 shares of the technology company’s stock valued at $1,006,000 after buying an additional 368 shares during the period. New World Advisors LLC raised its holdings in International Business Machines by 10.2% in the 2nd quarter. New World Advisors LLC now owns 1,432 shares of the technology company’s stock valued at $248,000 after buying an additional 132 shares during the last quarter. Belpointe Asset Management LLC boosted its position in International Business Machines by 5.9% during the 2nd quarter. Belpointe Asset Management LLC now owns 9,588 shares of the technology company’s stock worth $1,658,000 after buying an additional 531 shares during the period. Finally, Larson Financial Group LLC grew its holdings in International Business Machines by 211.6% during the 2nd quarter. Larson Financial Group LLC now owns 9,022 shares of the technology company’s stock worth $1,560,000 after acquiring an additional 6,127 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of recent research reports. Stifel Nicolaus lifted their price target on shares of International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. BMO Capital Markets lifted their target price on International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. UBS Group increased their price target on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday. Jefferies Financial Group lifted their price objective on International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Finally, The Goldman Sachs Group started coverage on International Business Machines in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 target price on the stock. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, International Business Machines has an average rating of “Hold” and an average target price of $185.93.

International Business Machines Trading Down 0.7 %

NYSE IBM opened at $202.59 on Friday. The firm has a market capitalization of $186.10 billion, a P/E ratio of 22.94, a PEG ratio of 4.50 and a beta of 0.71. The business has a fifty day simple moving average of $188.97 and a 200 day simple moving average of $182.42. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $205.95. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. The business had revenue of $15.77 billion during 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%. International Business Machines’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.18 EPS. On average, analysts predict that International Business Machines Co. will post 10.09 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend is Friday, August 9th. International Business Machines’s payout ratio is currently 75.65%.

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.