Twelve Points Wealth Management LLC Has $2.72 Million Stake in International Business Machines Co. (NYSE:IBM)

Twelve Points Wealth Management LLC boosted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 9.6% during the third quarter, Holdings Channel reports. The institutional investor owned 12,279 shares of the technology company’s stock after acquiring an additional 1,076 shares during the quarter. International Business Machines comprises about 0.9% of Twelve Points Wealth Management LLC’s investment portfolio, making the stock its 23rd biggest position. Twelve Points Wealth Management LLC’s holdings in International Business Machines were worth $2,715,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in International Business Machines by 6.7% in the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after acquiring an additional 5,546,855 shares during the period. Legal & General Group Plc grew its stake in shares of International Business Machines by 4.1% in the 2nd quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock valued at $1,467,974,000 after purchasing an additional 330,694 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of International Business Machines by 6.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock worth $1,274,074,000 after buying an additional 444,698 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of International Business Machines by 6.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock worth $829,431,000 after buying an additional 304,390 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of International Business Machines by 151.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after buying an additional 2,118,165 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Up 0.3 %

NYSE:IBM opened at $233.64 on Thursday. The company has a market cap of $214.62 billion, a PE ratio of 26.46, a PEG ratio of 5.21 and a beta of 0.70. The stock has a 50-day simple moving average of $210.57 and a 200 day simple moving average of $188.54. 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 Co. has a 52-week low of $135.87 and a 52-week high of $237.37.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $15.62 billion. During the same period last year, the company earned $2.18 earnings per share. The firm’s revenue was up 1.9% compared to the same quarter last year. On average, sell-side analysts expect that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s payout ratio is 75.65%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Jefferies Financial Group increased their target price on shares of International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Stifel Nicolaus lifted their target price on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a research report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $200.82.

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.