Arthur M. Cohen & Associates LLC Makes New $940,000 Investment in International Business Machines Corporation $IBM

Arthur M. Cohen & Associates LLC acquired a new stake in International Business Machines Corporation (NYSE:IBM) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 3,331 shares of the technology company’s stock, valued at approximately $940,000.

A number of other hedge funds have also modified their holdings of the stock. Norges Bank acquired a new position in International Business Machines during the second quarter worth $2,011,122,000. Vanguard Group Inc. grew its holdings in shares of International Business Machines by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 95,051,475 shares of the technology company’s stock worth $28,019,274,000 after purchasing an additional 1,913,708 shares during the last quarter. Laurel Wealth Advisors LLC grew its holdings in shares of International Business Machines by 27,928.2% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,903,116 shares of the technology company’s stock worth $561,001,000 after purchasing an additional 1,896,326 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of International Business Machines by 6.5% during the 1st 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 worth $2,147,608,000 after purchasing an additional 524,633 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in International Business Machines during the 2nd quarter valued at about $133,771,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on IBM shares. Wall Street Zen cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Saturday. Stifel Nicolaus boosted their target price on International Business Machines from $295.00 to $325.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. Weiss Ratings raised International Business Machines from a “hold (c+)” rating to a “buy (b)” rating in a report on Saturday, October 25th. Oppenheimer began coverage on International Business Machines in a research report on Friday, November 21st. They issued an “outperform” rating and a $360.00 price objective for the company. Finally, Jefferies Financial Group increased their target price on International Business Machines from $280.00 to $305.00 and gave the stock a “hold” rating in a report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $293.38.

International Business Machines Stock Up 0.2%

Shares of IBM opened at $300.94 on Monday. The business’s fifty day moving average price is $301.03 and its two-hundred day moving average price is $279.76. The firm has a market capitalization of $281.30 billion, a price-to-earnings ratio of 36.00, a PEG ratio of 3.00 and a beta of 0.69. International Business Machines Corporation has a 52 week low of $214.50 and a 52 week high of $324.90. 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 issued its quarterly earnings results on Wednesday, October 22nd. The technology company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.20. The business had revenue of $16.33 billion for 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 firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.30 earnings per share. On average, analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

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

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.