Mirador Capital Partners LP, a hedge fund, recently increased its stake in International Business Machines Co. by 16.7% in the first quarter, according to their latest filing with the SEC. They purchased an additional 891 shares, bringing their total to 6,220 shares valued at $1,188,000. Other institutional investors have also adjusted their positions in IBM, such as Bank of Nova Scotia, Schonfeld Strategic Advisors LLC, Caisse DE Depot ET Placement DU Quebec, Waverly Advisors LLC, and Logan Capital Management Inc.
On Monday, IBM’s stock traded at $174.11, reflecting a positive change of $1.16. The stock has a 50-day simple moving average of $169.95 and a 200-day simple moving average of $176.57. With a market capitalization of $159.94 billion, IBM has a price-to-earnings ratio of 19.59 and a beta of 0.71. The company’s recent quarterly earnings report exceeded expectations, with earnings per share of $1.68. Analysts forecast earnings per share of $9.90 for the current fiscal year.
IBM also increased its quarterly dividend to $1.67 per share, representing an annualized dividend of $6.68 and a yield of 3.84%. Wall Street analysts have varied opinions on IBM’s stock, with price targets adjusted by firms like JPMorgan Chase & Co., Sanford C. Bernstein, Jefferies Financial Group, and Morgan Stanley. The consensus rating is currently “Hold” with a price target of $182.53.
International Business Machines Corporation provides solutions and services globally through segments like Software, Consulting, Infrastructure, and Finance. Their offerings include hybrid cloud and AI platforms to help customers with digital and AI transformations across various applications and data environments.
Overall, IBM’s stock performance and financial outlook reflect a mix of positive moves and analyst opinions. Institutional investors like Mirador Capital Partners LP continue to show confidence in the company by increasing their stake. IBM’s focus on technology solutions and dividends also appeal to investors looking for stable returns in the tech sector.
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https://www.defenseworld.net/2024/07/01/mirador-capital-partners-lp-buys-891-shares-of-international-business-machines-co-nyseibm.html