CacheTech Inc. Invests $579,000 in International Business Machines Corporation $IBM

CacheTech Inc. purchased a new stake in International Business Machines Corporation (NYSE:IBM) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,965 shares of the technology company’s stock, valued at approximately $579,000.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of International Business Machines by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 95,051,475 shares of the technology company’s stock valued at $28,019,274,000 after purchasing an additional 1,913,708 shares during the last quarter. State Street Corp boosted its stake in International Business Machines by 0.3% during the second quarter. State Street Corp now owns 54,536,963 shares of the technology company’s stock worth $16,076,406,000 after buying an additional 147,721 shares during the period. Geode Capital Management LLC increased its position in International Business Machines by 1.9% during the second quarter. Geode Capital Management LLC now owns 21,936,235 shares of the technology company’s stock valued at $6,444,527,000 after acquiring an additional 400,131 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of International Business Machines by 6.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,636,725 shares of the technology company’s stock valued at $2,147,608,000 after acquiring an additional 524,633 shares during the period. Finally, Legal & General Group Plc lifted its holdings in shares of International Business Machines by 3.4% in the 2nd quarter. Legal & General Group Plc now owns 7,126,503 shares of the technology company’s stock worth $2,100,751,000 after acquiring an additional 234,318 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on IBM shares. UBS Group reissued a “sell” rating on shares of International Business Machines in a research report on Tuesday, December 9th. Erste Group Bank raised International Business Machines from a “hold” rating to a “buy” rating in a research note on Friday, December 5th. Sanford C. Bernstein reissued a “market perform” rating on shares of International Business Machines in a research note on Wednesday. Jefferies Financial Group upped their price objective on International Business Machines from $280.00 to $305.00 and gave the company a “hold” rating in a research report on Tuesday, October 21st. Finally, Oppenheimer assumed coverage on International Business Machines in a research report on Friday, November 21st. They set an “outperform” rating and a $360.00 target price for the company. One research 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $293.38.

International Business Machines Stock Down 0.5%

Shares of NYSE IBM opened at $309.33 on Monday. International Business Machines Corporation has a 12-month low of $214.50 and a 12-month high of $324.90. The stock has a market capitalization of $289.14 billion, a PE ratio of 37.00, a price-to-earnings-growth ratio of 3.08 and a beta of 0.69. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 1.97. The stock’s fifty day simple moving average is $299.47 and its two-hundred day simple moving average is $278.32.

International Business Machines (NYSE:IBM) last posted 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. International Business Machines had a net margin of 12.09% and a return on equity of 37.76%. The company had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.10 billion. During the same quarter in the prior year, the company posted $2.30 earnings per share. International Business Machines’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

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

About International Business Machines

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.