Commonwealth Retirement Investments LLC Invests $2.55 Million in International Business Machines Co. (NYSE:IBM)

Commonwealth Retirement Investments LLC acquired a new stake in shares of International Business Machines Co. (NYSE:IBM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 14,770 shares of the technology company’s stock, valued at approximately $2,554,000. International Business Machines accounts for about 1.2% of Commonwealth Retirement Investments LLC’s holdings, making the stock its 24th largest holding.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of International Business Machines during the fourth quarter worth $1,019,009,000. Vanguard Group Inc. boosted its stake in International Business Machines by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after buying an additional 5,546,855 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in International Business Machines by 151.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock valued at $671,352,000 after purchasing an additional 2,118,165 shares during the period. Capital Wealth Planning LLC purchased a new stake in shares of International Business Machines during the 4th quarter valued at $172,887,000. Finally, National Bank of Canada FI grew its position in International Business Machines by 79.4% during the first quarter. National Bank of Canada FI now owns 922,496 shares of the technology company’s stock valued at $176,160,000 after acquiring an additional 408,230 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of IBM opened at $200.87 on Friday. International Business Machines Co. has a 52-week low of $135.87 and a 52-week high of $205.95. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The firm has a market cap of $184.52 billion, a price-to-earnings ratio of 22.75, a PEG ratio of 4.50 and a beta of 0.71. The business’s 50 day moving average is $189.52 and its two-hundred day moving average is $182.51.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data 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 firm had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm’s 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. Analysts forecast that International Business Machines Co. will post 10.09 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be paid a $1.67 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a yield of 3.33%. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on IBM shares. Stifel Nicolaus lifted their price objective on International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. 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 objective for the company. BMO Capital Markets lifted their target price on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Finally, Jefferies Financial Group increased their price target on International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $185.93.

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.