Quent Capital LLC Increases Position in International Business Machines Co. (NYSE:IBM)

Quent Capital LLC lifted its holdings in International Business Machines Co. (NYSE:IBM) by 4.9% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,506 shares of the technology company’s stock after buying an additional 163 shares during the period. Quent Capital LLC’s holdings in International Business Machines were worth $469,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Pitcairn Co. lifted its stake in International Business Machines by 33.8% in the first quarter. Pitcairn Co. now owns 5,888 shares of the technology company’s stock valued at $772,000 after purchasing an additional 1,488 shares during the last quarter. Skba Capital Management LLC lifted its position in shares of International Business Machines by 4.5% during the first quarter. Skba Capital Management LLC now owns 123,800 shares of the technology company’s stock worth $16,229,000 after acquiring an additional 5,320 shares in the last quarter. American National Bank lifted its position in shares of International Business Machines by 4.8% during the first quarter. American National Bank now owns 3,054 shares of the technology company’s stock worth $400,000 after acquiring an additional 141 shares in the last quarter. TIAA FSB lifted its position in shares of International Business Machines by 72.2% during the first quarter. TIAA FSB now owns 169,994 shares of the technology company’s stock worth $22,285,000 after acquiring an additional 71,263 shares in the last quarter. Finally, Argent Trust Co lifted its position in shares of International Business Machines by 8.6% during the first quarter. Argent Trust Co now owns 100,122 shares of the technology company’s stock worth $13,125,000 after acquiring an additional 7,889 shares in the last quarter. Hedge funds and other institutional investors own 56.16% of the company’s stock.

International Business Machines Stock Down 0.9 %

IBM opened at $145.99 on Friday. The stock has a market cap of $133.00 billion, a PE ratio of 67.59, a P/E/G ratio of 3.72 and a beta of 0.85. 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 business’s fifty day simple moving average is $142.59 and its 200 day simple moving average is $133.67.

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

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, September 9th. Shareholders of record on Thursday, August 10th were given a dividend of $1.66 per share. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $6.64 annualized dividend and a yield of 4.55%. International Business Machines’s payout ratio is 307.41%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Bank of America increased their target price on International Business Machines from $152.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, July 20th. Stifel Nicolaus increased their target price on International Business Machines from $140.00 to $144.00 and gave the stock a “buy” rating in a research report on Thursday, July 20th. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. JPMorgan Chase & Co. assumed coverage on shares of International Business Machines in a report on Friday, July 7th. They issued a “neutral” rating and a $145.00 price target on the stock. Finally, BMO Capital Markets upped 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 report on Monday, July 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and a consensus price target of $142.91.

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.