Meiji Yasuda Asset Management Co Ltd. Has $18.14 Million Stock Position in International Business Machines Co. (NYSE:IBM)

Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of International Business Machines Co. (NYSE:IBM) by 4.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 104,886 shares of the technology company’s stock after purchasing an additional 4,935 shares during the period. International Business Machines accounts for approximately 0.7% of Meiji Yasuda Asset Management Co Ltd.’s investment portfolio, making the stock its 24th biggest position. Meiji Yasuda Asset Management Co Ltd.’s holdings in International Business Machines were worth $18,140,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in IBM. Arden Trust Co lifted its stake in International Business Machines by 2.8% in the first quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock valued at $377,000 after buying an additional 54 shares during the period. Armbruster Capital Management Inc. grew its holdings in International Business Machines by 2.3% in the second quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company’s stock worth $432,000 after purchasing an additional 56 shares during the period. CVA Family Office LLC increased its stake in International Business Machines by 3.3% in the second quarter. CVA Family Office LLC now owns 1,796 shares of the technology company’s stock valued at $311,000 after purchasing an additional 57 shares in the last quarter. Chicago Partners Investment Group LLC raised its holdings in shares of International Business Machines by 0.8% during the fourth quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock valued at $1,309,000 after purchasing an additional 58 shares during the period. Finally, Peddock Capital Advisors LLC boosted its position in shares of International Business Machines by 0.6% during the 2nd quarter. Peddock Capital Advisors LLC now owns 10,040 shares of the technology company’s stock worth $1,736,000 after purchasing an additional 58 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

IBM has been the topic of a number of research reports. Royal Bank of Canada upped their price target on International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Stifel Nicolaus lifted their price target on shares of International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. The Goldman Sachs Group assumed coverage on shares of International Business Machines in a research report on Monday, June 24th. They issued a “buy” rating and a $200.00 price target on the stock. Finally, Jefferies Financial Group increased 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. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $188.60.

International Business Machines Stock Down 1.4 %

IBM stock opened at $214.13 on Wednesday. International Business Machines Co. has a fifty-two week low of $135.87 and a fifty-two week high of $218.84. The stock has a fifty day moving average of $194.37 and a 200-day moving average of $183.78. The company has a market capitalization of $196.70 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 4.67 and a beta of 0.70. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping the consensus estimate of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same period last year, the firm earned $2.18 EPS. International Business Machines’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, equities research analysts predict that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a dividend of $1.67 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a yield of 3.12%. 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.