RPG Investment Advisory LLC Has $10.43 Million Holdings in International Business Machines Co. (NYSE:IBM)

RPG Investment Advisory LLC grew its position in shares of International Business Machines Co. (NYSE:IBM) by 0.2% in the second quarter, HoldingsChannel reports. The fund owned 60,277 shares of the technology company’s stock after acquiring an additional 123 shares during the period. International Business Machines makes up 1.5% of RPG Investment Advisory LLC’s portfolio, making the stock its 28th largest position. RPG Investment Advisory LLC’s holdings in International Business Machines were worth $10,425,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Arden Trust Co increased its position in shares of International Business Machines by 2.8% during the 1st quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock worth $377,000 after purchasing an additional 54 shares during the last quarter. Armbruster Capital Management Inc. lifted its holdings in shares of International Business Machines by 2.3% during the second quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company’s stock worth $432,000 after buying an additional 56 shares in the last quarter. CVA Family Office LLC boosted its holdings in International Business Machines by 3.3% in the 2nd 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 during the period. Chicago Partners Investment Group LLC increased 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 worth $1,309,000 after purchasing an additional 58 shares during the period. Finally, Peddock Capital Advisors LLC raised its position in shares of International Business Machines by 0.6% in the second quarter. Peddock Capital Advisors LLC now owns 10,040 shares of the technology company’s stock valued at $1,736,000 after buying an additional 58 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $203.53 on Tuesday. International Business Machines Co. has a fifty-two week low of $135.87 and a fifty-two week high of $205.95. The firm has a market capitalization of $187.48 billion, a P/E ratio of 23.05, a P/E/G ratio of 4.47 and a beta of 0.70. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The company’s 50 day moving average price is $190.09 and its two-hundred day moving average price is $182.66.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same quarter in the prior year, the firm earned $2.18 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities analysts forecast that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be given a dividend of $1.67 per share. The ex-dividend date is Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 3.28%. International Business Machines’s dividend payout ratio is presently 75.65%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on IBM shares. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. BMO Capital Markets raised their price target on International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Royal Bank of Canada upped their price objective on shares of International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Stifel Nicolaus raised their target price on shares of International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, UBS Group increased their price target on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, International Business Machines presently has an average rating of “Hold” and an average target price of $185.93.

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.