E Fund Management Co. Ltd. Buys 3,705 Shares of International Business Machines Co. (NYSE:IBM)

E Fund Management Co. Ltd. raised its stake in International Business Machines Co. (NYSE:IBM) by 32.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 14,979 shares of the technology company’s stock after acquiring an additional 3,705 shares during the quarter. E Fund Management Co. Ltd.’s holdings in International Business Machines were worth $2,591,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FPC Investment Advisory Inc. bought a new stake in International Business Machines in the first quarter valued at $26,000. ESL Trust Services LLC bought a new stake in International Business Machines in the first quarter valued at $28,000. Creekmur Asset Management LLC bought a new stake in International Business Machines in the fourth quarter valued at $29,000. Ables Iannone Moore & Associates Inc. bought a new stake in International Business Machines in the fourth quarter valued at $31,000. Finally, Financial Synergies Wealth Advisors Inc. increased its position in shares of International Business Machines by 164.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after acquiring an additional 123 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Down 1.4 %

IBM opened at $214.13 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The stock has a market cap of $196.70 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 4.67 and a beta of 0.70. International Business Machines Co. has a twelve month low of $135.87 and a twelve month high of $218.84. The company’s 50-day moving average price is $194.37 and its two-hundred day moving average price is $183.78.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. The firm had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.18 earnings per share. As a group, equities analysts expect that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s payout ratio is 75.65%.

Analyst Ratings Changes

Several equities research analysts have recently commented on IBM shares. Evercore ISI boosted their target price on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. BMO Capital Markets boosted their target price on shares of International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Jefferies Financial Group boosted their target price on shares of International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Finally, Royal Bank of Canada boosted their target price on shares of International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $188.60.

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.