Geneos Wealth Management Inc. grew its holdings in shares of International Business Machines Co. (NYSE:IBM – Get Rating) by 5.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 29,275 shares of the technology company’s stock after acquiring an additional 1,510 shares during the period. Geneos Wealth Management Inc.’s holdings in International Business Machines were worth $3,806,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the business. Harvest Volatility Management LLC raised its stake in shares of International Business Machines by 85.5% during the first quarter. Harvest Volatility Management LLC now owns 5,885 shares of the technology company’s stock valued at $765,000 after acquiring an additional 2,712 shares during the last quarter. 1832 Asset Management L.P. increased its position in shares of International Business Machines by 260.5% during the first quarter. 1832 Asset Management L.P. now owns 3,847 shares of the technology company’s stock worth $493,000 after buying an additional 2,780 shares during the period. Journey Strategic Wealth LLC increased its position in shares of International Business Machines by 6.6% during the first quarter. Journey Strategic Wealth LLC now owns 3,555 shares of the technology company’s stock worth $462,000 after buying an additional 221 shares during the period. Maverick Capital Ltd. acquired a new stake in shares of International Business Machines during the first quarter worth $1,511,000. Finally, Brinker Capital Investments LLC increased its position in shares of International Business Machines by 35.9% during the first quarter. Brinker Capital Investments LLC now owns 43,454 shares of the technology company’s stock worth $5,650,000 after buying an additional 11,469 shares during the period. Institutional investors own 55.52% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on IBM shares. BMO Capital Markets decreased their price objective on shares of International Business Machines from $152.00 to $148.00 in a research report on Tuesday, July 19th. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, August 31st. Credit Suisse Group increased their price objective on shares of International Business Machines from $156.00 to $163.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 17th. Finally, Morgan Stanley reduced their price target on shares of International Business Machines from $157.00 to $155.00 and set an “overweight” rating for the company in a report on Tuesday, July 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, International Business Machines has an average rating of “Hold” and a consensus target price of $146.80.
International Business Machines Trading Up 1.1 %
International Business Machines (NYSE:IBM – Get Rating) last issued its quarterly earnings data on Monday, July 18th. The technology company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.02. The firm had revenue of $15.54 billion during the quarter, compared to analysts’ expectations of $15.18 billion. International Business Machines had a net margin of 8.72% and a return on equity of 43.52%. The business’s revenue was up 9.3% on a year-over-year basis. During the same period last year, the company earned $2.33 earnings per share. Analysts expect that International Business Machines Co. will post 9.47 EPS for the current fiscal year.
International Business Machines Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, September 10th. Stockholders of record on Wednesday, August 10th were issued a dividend of $1.65 per share. This represents a $6.60 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date was Tuesday, August 9th. International Business Machines’s dividend payout ratio is currently 107.14%.
About International Business Machines
International Business Machines Corporation provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions, such as Red Hat, an enterprise open-source solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.
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