Abner Herrman & Brock LLC Acquires 4,881 Shares of International Business Machines Co. (NYSE:IBM)

Abner Herrman & Brock LLC increased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 3.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,108 shares of the technology company’s stock after acquiring an additional 4,881 shares during the period. International Business Machines makes up 2.9% of Abner Herrman & Brock LLC’s investment portfolio, making the stock its 12th largest holding. Abner Herrman & Brock LLC’s holdings in International Business Machines were worth $19,684,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Symmetry Partners LLC grew its holdings in shares of International Business Machines by 52.8% during the second quarter. Symmetry Partners LLC now owns 12,931 shares of the technology company’s stock valued at $1,730,000 after buying an additional 4,466 shares during the last quarter. Cedar Brook Financial Partners LLC grew its holdings in shares of International Business Machines by 5.6% during the second quarter. Cedar Brook Financial Partners LLC now owns 9,247 shares of the technology company’s stock valued at $1,237,000 after buying an additional 492 shares during the last quarter. New England Research & Management Inc. grew its holdings in shares of International Business Machines by 33.4% during the second quarter. New England Research & Management Inc. now owns 18,192 shares of the technology company’s stock valued at $2,434,000 after buying an additional 4,550 shares during the last quarter. AMF Tjanstepension AB grew its holdings in shares of International Business Machines by 10.9% during the second quarter. AMF Tjanstepension AB now owns 347,103 shares of the technology company’s stock valued at $46,499,000 after buying an additional 34,000 shares during the last quarter. Finally, Cacti Asset Management LLC grew its holdings in shares of International Business Machines by 9.3% during the second quarter. Cacti Asset Management LLC now owns 18,150 shares of the technology company’s stock valued at $2,429,000 after buying an additional 1,550 shares during the last quarter. Institutional investors own 56.16% of the company’s stock.

International Business Machines Price Performance

Shares of IBM stock traded up $0.60 on Thursday, hitting $147.15. 471,224 shares of the stock traded hands, compared to its average volume of 4,531,681. The firm has a market cap of $134.05 billion, a price-to-earnings ratio of 68.19, a PEG ratio of 3.75 and a beta of 0.85. International Business Machines Co. has a 52 week low of $115.54 and a 52 week high of $153.21. The firm has a 50 day simple moving average of $141.76 and a two-hundred day simple moving average of $133.34. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.06 and a quick ratio of 1.01.

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

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, September 9th. Shareholders of record on Thursday, August 10th were issued a $1.66 dividend. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $6.64 dividend on an annualized basis and a yield of 4.51%. International Business Machines’s dividend payout ratio is currently 307.41%.

Analysts Set New Price Targets

Several research firms have weighed in on IBM. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. JPMorgan Chase & Co. began 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 target on the stock. Stifel Nicolaus increased their price target on shares of International Business Machines from $140.00 to $144.00 and gave the stock a “buy” rating in a research report on Thursday, July 20th. BMO Capital Markets increased their price target on shares of International Business Machines from $145.00 to $150.00 and gave the stock a “market perform” rating in a research report on Monday, July 17th. Finally, Wedbush reiterated a “neutral” rating and issued a $140.00 price target on shares of International Business Machines in a research report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $142.91.

International Business Machines Company 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.