DoubleLine ETF Adviser LP purchased a new position in shares of International Business Machines Co. (NYSE:IBM – Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,808 shares of the technology company’s stock, valued at approximately $892,000.
A number of other hedge funds also recently made changes to their positions in IBM. Live Oak Investment Partners acquired a new position in International Business Machines in the fourth quarter valued at $30,000. GW&K Investment Management LLC purchased a new position in International Business Machines in the first quarter valued at approximately $33,000. First Command Advisory Services Inc. acquired a new position in International Business Machines during the first quarter valued at approximately $37,000. Kepos Capital LP purchased a new stake in International Business Machines during the fourth quarter worth approximately $42,000. Finally, ZRC Wealth Management LLC purchased a new position in shares of International Business Machines in the 1st quarter valued at $43,000. Institutional investors and hedge funds own 56.16% of the company’s stock.
International Business Machines Stock Up 0.3 %
Shares of IBM traded up $0.40 during midday trading on Monday, hitting $148.08. The company had a trading volume of 1,680,293 shares, compared to its average volume of 4,557,344. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.28. International Business Machines Co. has a 52 week low of $115.54 and a 52 week high of $153.21. The company’s 50 day moving average price is $141.21 and its 200 day moving average price is $133.10. The stock has a market cap of $134.90 billion, a price-to-earnings ratio of 68.48, a PEG ratio of 3.75 and a beta of 0.85.
International Business Machines Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Saturday, September 9th. Shareholders of record on Thursday, August 10th were issued a dividend of $1.66 per share. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $6.64 dividend on an annualized basis and a dividend yield of 4.48%. International Business Machines’s dividend payout ratio (DPR) is 307.41%.
Analyst Ratings Changes
IBM has been the subject of several recent research reports. Wedbush reiterated a “neutral” rating and issued a $140.00 price target on shares of International Business Machines in a report on Thursday, July 20th. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. JPMorgan Chase & Co. assumed coverage on shares of International Business Machines in a research report on Friday, July 7th. They issued a “neutral” rating and a $145.00 price objective for the company. Bank of America lifted their price objective on shares of International Business Machines from $152.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, July 20th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $135.00 price target on shares of International Business Machines in a report on Thursday, July 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and a consensus price target of $141.75.
International Business Machines Profile
International Business Machines Corporation, together with its subsidiaries, 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; 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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