1,630 Shares in International Business Machines Co. (NYSE:IBM) Bought by Norway Savings Bank

Norway Savings Bank acquired a new position in shares of International Business Machines Co. (NYSE:IBM) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,630 shares of the technology company’s stock, valued at approximately $218,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of International Business Machines by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,701,925 shares of the technology company’s stock worth $2,626,331,000 after acquiring an additional 270,201 shares in the last quarter. Morgan Stanley raised its holdings in shares of International Business Machines by 22.8% during the fourth quarter. Morgan Stanley now owns 16,592,094 shares of the technology company’s stock worth $2,337,660,000 after acquiring an additional 3,084,458 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of International Business Machines by 1.5% during the first quarter. Geode Capital Management LLC now owns 16,209,322 shares of the technology company’s stock worth $2,120,034,000 after acquiring an additional 235,143 shares in the last quarter. Moneta Group Investment Advisors LLC raised its holdings in International Business Machines by 98,797.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 11,029,001 shares of the technology company’s stock valued at $1,553,876,000 after buying an additional 11,017,849 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in International Business Machines by 1.0% during the third quarter. Bank of New York Mellon Corp now owns 8,130,808 shares of the technology company’s stock valued at $966,020,000 after buying an additional 77,916 shares in the last quarter. 56.16% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

IBM stock traded down $1.36 during trading on Friday, reaching $145.99. 6,234,033 shares of the stock were exchanged, compared to its average volume of 4,554,644. International Business Machines Co. has a twelve month low of $115.54 and a twelve month high of $153.21. The company has a market capitalization of $133.00 billion, a P/E ratio of 67.59, a price-to-earnings-growth ratio of 3.72 and a beta of 0.85. The stock has a 50 day simple moving average of $142.59 and a 200-day simple moving average of $133.67. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.28.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, July 19th. The technology company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.00 by $0.18. International Business Machines had a return on equity of 38.10% and a net margin of 3.35%. The business had revenue of $15.48 billion for the quarter, compared to the consensus estimate of $15.58 billion. During the same period last year, the business earned $2.31 earnings per share. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, sell-side analysts anticipate that International Business Machines Co. will post 9.43 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently disclosed 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. This represents a $6.64 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date of this dividend was Wednesday, August 9th. International Business Machines’s payout ratio is 307.41%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on IBM shares. Morgan Stanley restated an “equal weight” rating and set a $135.00 target price 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. started coverage on International Business Machines in a report on Friday, July 7th. They set a “neutral” rating and a $145.00 target price on the stock. Bank of America raised their target price on International Business Machines from $152.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, July 20th. Finally, BMO Capital Markets raised their target price on International Business Machines from $145.00 to $150.00 and gave the company a “market perform” rating in a report on Monday, July 17th. One investment 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 MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $142.91.

International Business Machines Company 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.