Northwest Investment Counselors LLC recently acquired a stake in International Business Machines Corp. The institutional investor purchased 712 shares of the technology company, valuing them at around $136,000. Other hedge funds have also been increasing their positions in IBM, with Naples Money Management LLC, Creekmur Asset Management LLC, and Ables Iannone Moore & Associates Inc. all acquiring new stakes in the company in the past year. Versant Capital Management Inc and Stone House Investment Management LLC also saw increases in their IBM holdings. Overall, 58.96% of shares belong to institutional investors and hedge funds.
On the stock market, IBM opened at $175.02 and has seen a range of $129.31 to $199.18 over the past year. It has a market capitalization of $160.77 billion and a price-to-earnings ratio of 19.82. The company recently posted earnings per share of $1.68 for the quarter, beating analyst estimates. IBM also announced a quarterly dividend of $1.67 per share, representing a yield of 3.82%.
Various research firms have provided ratings and price targets for IBM, with opinions ranging from “sell” to “buy.” Overall, the company has an average rating of “hold” and an average price target of $182.53. IBM is known for providing integrated solutions and services globally through its software, consulting, infrastructure, and financing segments. The company helps customers with their digital and AI transformations across different applications, data, and environments.
For more information and news on International Business Machines, MarketBeat.com offers a free daily email newsletter with updates on stock performance and analyst ratings. This information can help investors stay informed about IBM’s progress in the market.
Article Source
https://www.defenseworld.net/2024/06/25/712-shares-in-international-business-machines-co-nyseibm-purchased-by-northwest-investment-counselors-llc.html