Permanent Capital Management LP Invests $610,000 in International Business Machines Corporation $IBM

Permanent Capital Management LP bought a new stake in shares of International Business Machines Corporation (NYSE:IBM) during the 3rd quarter, according to its most recent filing with the SEC. The firm bought 2,161 shares of the technology company’s stock, valued at approximately $610,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of International Business Machines during the second quarter worth $2,011,122,000. Vanguard Group Inc. increased its stake in 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 worth $28,019,274,000 after buying an additional 1,913,708 shares during the period. Laurel Wealth Advisors LLC lifted its holdings in 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 buying an additional 1,896,326 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in International Business Machines by 6.5% in 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 valued at $2,147,608,000 after buying an additional 524,633 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of International Business Machines during the second quarter valued at about $133,771,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

IBM stock opened at $305.22 on Monday. The stock’s 50 day simple moving average is $303.62 and its 200 day simple moving average is $280.86. International Business Machines Corporation has a 12-month low of $214.50 and a 12-month high of $324.90. The firm has a market cap of $285.30 billion, a P/E ratio of 36.51, a P/E/G ratio of 3.04 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.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 22nd. The technology company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.20. The firm had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.10 billion. International Business Machines had a net margin of 12.09% and a return on equity of 37.76%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the previous 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 year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th were issued a $1.68 dividend. The ex-dividend date of this dividend 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 (DPR) is currently 80.38%.

Wall Street Analyst Weigh In

Several research firms recently commented on IBM. Morgan Stanley cut their price target on International Business Machines from $256.00 to $252.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 23rd. Royal Bank Of Canada cut their target price on International Business Machines from $315.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday, October 23rd. UBS Group reissued a “sell” rating on shares of International Business Machines in a research report on Tuesday, December 9th. BMO Capital Markets upped their price target on shares of International Business Machines from $300.00 to $305.00 and gave the company a “market perform” rating in a report on Thursday, October 23rd. Finally, Wall Street Zen downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, International Business Machines has an average rating of “Moderate Buy” and a consensus target price of $293.38.

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.