AQR Capital Management LLC Acquires 120,074 Shares of International Business Machines Corporation $IBM

AQR Capital Management LLC boosted its stake in International Business Machines Corporation (NYSE:IBM) by 14.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 948,589 shares of the technology company’s stock after purchasing an additional 120,074 shares during the quarter. AQR Capital Management LLC owned about 0.10% of International Business Machines worth $277,510,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lifestyle Asset Management Inc. raised its holdings in shares of International Business Machines by 1.7% in the 2nd quarter. Lifestyle Asset Management Inc. now owns 2,144 shares of the technology company’s stock worth $632,000 after acquiring an additional 36 shares during the last quarter. Whelan Financial lifted its stake in International Business Machines by 2.4% during 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 in the last quarter. Ignite Planners LLC lifted its stake 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 acquiring an additional 36 shares in the last quarter. Blue Edge Capital LLC boosted its holdings 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 last quarter. Finally, Johnson Bixby & Associates LLC grew its holdings 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 acquiring an additional 39 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

NYSE IBM opened at $309.33 on Friday. International Business Machines Corporation has a 52-week low of $214.50 and a 52-week high of $324.90. The company has a fifty day moving average of $299.47 and a 200-day moving average of $278.09. The company has a market capitalization of $289.14 billion, a P/E ratio of 37.00, a P/E/G ratio of 3.09 and a beta of 0.69. 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 released its earnings results on Wednesday, October 22nd. The technology company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.20. The business had revenue of $16.33 billion for the quarter, compared to analysts’ expectations of $16.10 billion. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.The firm’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.30 earnings per share. As a group, equities research analysts predict that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th were paid a $1.68 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $6.72 annualized dividend and a yield of 2.2%. International Business Machines’s payout ratio is currently 80.38%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on IBM shares. Stifel Nicolaus upped their price objective on International Business Machines from $295.00 to $325.00 and gave the company a “buy” rating in a research note on Tuesday. Wall Street Zen upgraded International Business Machines from a “hold” rating to a “buy” rating in a research note on Sunday, October 26th. Sanford C. Bernstein reiterated a “market perform” rating on shares of International Business Machines in a research report on Wednesday. Morgan Stanley reduced their price target on International Business Machines from $256.00 to $252.00 and set an “equal weight” rating for the company in a research report on Thursday, October 23rd. Finally, Oppenheimer started coverage on International Business Machines in a research report on Friday, November 21st. They set an “outperform” rating and a $360.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, International Business Machines has a consensus rating of “Moderate Buy” and an average price target of $293.38.

International Business Machines 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.