DoubleLine ETF Adviser LP Buys New Shares in International Business Machines Co. (NYSE:IBM)

DoubleLine ETF Adviser LP purchased a new position in shares of International Business Machines Co. (NYSE:IBM) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,808 shares of the technology company’s stock, valued at approximately $892,000.

A number of other hedge funds also recently made changes to their positions in IBM. Live Oak Investment Partners acquired a new position in International Business Machines in the fourth quarter valued at $30,000. GW&K Investment Management LLC purchased a new position in International Business Machines in the first quarter valued at approximately $33,000. First Command Advisory Services Inc. acquired a new position in International Business Machines during the first quarter valued at approximately $37,000. Kepos Capital LP purchased a new stake in International Business Machines during the fourth quarter worth approximately $42,000. Finally, ZRC Wealth Management LLC purchased a new position in shares of International Business Machines in the 1st quarter valued at $43,000. Institutional investors and hedge funds own 56.16% of the company’s stock.

International Business Machines Stock Up 0.3 %

Shares of IBM traded up $0.40 during midday trading on Monday, hitting $148.08. The company had a trading volume of 1,680,293 shares, compared to its average volume of 4,557,344. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.28. International Business Machines Co. has a 52 week low of $115.54 and a 52 week high of $153.21. The company’s 50 day moving average price is $141.21 and its 200 day moving average price is $133.10. The stock has a market cap of $134.90 billion, a price-to-earnings ratio of 68.48, a PEG ratio of 3.75 and a beta of 0.85.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, July 19th. The technology company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.18. International Business Machines had a return on equity of 38.10% and a net margin of 3.35%. The firm had revenue of $15.48 billion for the quarter, compared to analysts’ expectations of $15.58 billion. During the same quarter in the prior year, the firm posted $2.31 earnings per share. International Business Machines’s revenue for the quarter was down .4% compared to the same quarter last year. On average, equities research analysts predict that International Business Machines Co. will post 9.43 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, September 9th. Shareholders of record on Thursday, August 10th were issued a dividend of $1.66 per share. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $6.64 dividend on an annualized basis and a dividend yield of 4.48%. International Business Machines’s dividend payout ratio (DPR) is 307.41%.

Analyst Ratings Changes

IBM has been the subject of several recent research reports. Wedbush reiterated a “neutral” rating and issued a $140.00 price target on shares of International Business Machines in a report on Thursday, July 20th. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. JPMorgan Chase & Co. assumed coverage on shares of International Business Machines in a research report on Friday, July 7th. They issued a “neutral” rating and a $145.00 price objective for the company. Bank of America lifted their price objective on shares of International Business Machines from $152.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, July 20th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $135.00 price target on shares of International Business Machines in a report on Thursday, July 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and a consensus price target of $141.75.

International Business Machines Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.