Cedar Brook Financial Partners LLC raised its position in shares of International Business Machines Co. (NYSE:IBM – Free Report) by 5.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,247 shares of the technology company’s stock after purchasing an additional 492 shares during the period. Cedar Brook Financial Partners LLC’s holdings in International Business Machines were worth $1,237,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of IBM. Live Oak Investment Partners bought a new stake in International Business Machines during the fourth quarter worth approximately $30,000. GW&K Investment Management LLC purchased a new stake in International Business Machines in the 1st quarter worth approximately $33,000. First Command Advisory Services Inc. purchased a new stake in International Business Machines in the 1st quarter worth approximately $37,000. Pacific Center for Financial Services bought a new position in shares of International Business Machines during the 1st quarter valued at $41,000. Finally, Kepos Capital LP bought a new position in shares of International Business Machines during the 4th quarter valued at $42,000. 56.16% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
IBM has been the topic of a number of recent research reports. JPMorgan Chase & Co. initiated coverage on shares of International Business Machines in a report on Friday, July 7th. They set a “neutral” rating and a $145.00 price target on the stock. Wedbush restated a “neutral” rating and set a $140.00 price target on shares of International Business Machines in a report on Thursday, July 20th. Morgan Stanley restated an “equal weight” rating and set a $135.00 price target on shares of International Business Machines in a report on Thursday, July 20th. BMO Capital Markets raised their target price on shares of International Business Machines from $145.00 to $150.00 and gave the company a “market perform” rating in a research note on Monday, July 17th. Finally, Bank of America raised their target price 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $142.91.
International Business Machines Stock Performance
NYSE IBM traded up $0.47 during midday trading on Thursday, hitting $147.02. The company had a trading volume of 273,594 shares, compared to its average volume of 4,530,500. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.28. The stock has a market cap of $133.94 billion, a price-to-earnings ratio of 67.85, a P/E/G ratio of 3.75 and a beta of 0.85. The firm has a fifty day simple moving average of $141.76 and a two-hundred day simple moving average of $133.34. International Business Machines Co. has a fifty-two week low of $115.54 and a fifty-two week high of $153.21.
International Business Machines (NYSE:IBM – Get Free Report) last issued its earnings results on Wednesday, July 19th. The technology company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.18. International Business Machines had a net margin of 3.35% and a return on equity of 38.10%. The business had revenue of $15.48 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same period in the previous year, the business earned $2.31 EPS. The firm’s revenue was down .4% on a year-over-year basis. Equities analysts forecast that International Business Machines Co. will post 9.43 earnings per share for the current fiscal year.
International Business Machines Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Saturday, September 9th. Investors of record on Thursday, August 10th were issued a dividend of $1.66 per share. This represents a $6.64 annualized dividend and a yield of 4.52%. The ex-dividend date was Wednesday, August 9th. International Business Machines’s dividend payout ratio is currently 307.41%.
About International Business Machines
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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