Federated Hermes Inc. Purchases 2,671 Shares of International Business Machines Corporation $IBM

Federated Hermes Inc. increased its position in International Business Machines Corporation (NYSE:IBM) by 2.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 109,813 shares of the technology company’s stock after purchasing an additional 2,671 shares during the quarter. Federated Hermes Inc.’s holdings in International Business Machines were worth $32,371,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of IBM. Lifestyle Asset Management Inc. raised its stake in International Business Machines by 1.7% in the second quarter. Lifestyle Asset Management Inc. now owns 2,144 shares of the technology company’s stock valued at $632,000 after buying an additional 36 shares during the period. Whelan Financial raised its stake in International Business Machines by 2.4% in the 2nd quarter. Whelan Financial now owns 1,525 shares of the technology company’s stock valued at $450,000 after acquiring an additional 36 shares during the period. Ignite Planners LLC lifted its holdings in International Business Machines by 0.9% during the 2nd quarter. Ignite Planners LLC now owns 3,964 shares of the technology company’s stock valued at $1,133,000 after purchasing an additional 36 shares during the last quarter. Blue Edge Capital LLC boosted its position in International Business Machines by 0.6% during the first quarter. Blue Edge Capital LLC now owns 6,776 shares of the technology company’s stock worth $1,685,000 after purchasing an additional 39 shares during the period. Finally, Johnson Bixby & Associates LLC raised its position in shares of International Business Machines by 3.3% in the second quarter. Johnson Bixby & Associates LLC now owns 1,208 shares of the technology company’s stock valued at $356,000 after purchasing an additional 39 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Trading Up 0.3%

Shares of NYSE IBM opened at $310.17 on Wednesday. International Business Machines Corporation has a 52-week low of $214.50 and a 52-week high of $324.90. The company has a market cap of $289.93 billion, a PE ratio of 37.10, a P/E/G ratio of 3.08 and a beta of 0.69. The firm’s 50 day moving average price is $298.06 and its 200-day moving average price is $277.26. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.89 and a current ratio of 0.93.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, October 22nd. The technology company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.20. The business had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.10 billion. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.30 EPS. On average, equities research analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th will be paid a dividend of $1.68 per share. The ex-dividend date is Monday, November 10th. This represents a $6.72 annualized dividend and a yield of 2.2%. International Business Machines’s dividend payout ratio is currently 80.38%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on IBM. Royal Bank Of Canada reduced their target price on shares of International Business Machines from $315.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday, October 23rd. BMO Capital Markets lifted their price target on International Business Machines from $300.00 to $305.00 and gave the stock a “market perform” rating in a report on Thursday, October 23rd. Erste Group Bank upgraded International Business Machines from a “hold” rating to a “buy” rating in a research note on Friday, December 5th. Oppenheimer started coverage on International Business Machines in a report on Friday, November 21st. They set an “outperform” rating and a $360.00 target price for the company. Finally, UBS Group reaffirmed a “sell” rating on shares of International Business Machines in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $293.38.

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.