Berger Financial Group Inc reduced its position in shares of International Business Machines Co. (NYSE:IBM – Free Report) by 1.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 36,454 shares of the technology company’s stock after selling 530 shares during the quarter. Berger Financial Group Inc’s holdings in International Business Machines were worth $4,878,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. Cetera Advisors LLC increased its stake in International Business Machines by 1.1% during the 2nd quarter. Cetera Advisors LLC now owns 82,083 shares of the technology company’s stock worth $10,983,000 after purchasing an additional 928 shares in the last quarter. King Wealth increased its position in shares of International Business Machines by 26.0% during the second quarter. King Wealth now owns 4,035 shares of the technology company’s stock worth $540,000 after acquiring an additional 833 shares in the last quarter. Cetera Advisor Networks LLC increased its position in shares of International Business Machines by 5.9% during the second quarter. Cetera Advisor Networks LLC now owns 137,633 shares of the technology company’s stock worth $18,417,000 after acquiring an additional 7,727 shares in the last quarter. Beverly Hills Private Wealth LLC raised its holdings in shares of International Business Machines by 46.5% during the second quarter. Beverly Hills Private Wealth LLC now owns 12,163 shares of the technology company’s stock worth $1,754,000 after acquiring an additional 3,860 shares during the period. Finally, Financial Architects Inc lifted its position in International Business Machines by 2.2% in the 2nd quarter. Financial Architects Inc now owns 11,337 shares of the technology company’s stock valued at $1,517,000 after acquiring an additional 241 shares in the last quarter. 56.16% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several analysts have issued reports on the company. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research note on Friday, October 13th. Wedbush restated a “neutral” rating and issued a $140.00 target price on shares of International Business Machines in a research note on Monday. BMO Capital Markets raised their price target on shares of International Business Machines from $152.00 to $155.00 and gave the stock a “market perform” rating in a research note on Thursday, October 26th. Morgan Stanley cut their price objective on shares of International Business Machines from $135.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 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 report on Thursday, July 20th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $149.09.
International Business Machines Stock Performance
IBM stock traded up $1.60 during midday trading on Wednesday, reaching $152.01. 670,579 shares of the company were exchanged, compared to its average volume of 4,479,758. International Business Machines Co. has a one year low of $120.55 and a one year high of $153.21. The firm has a market capitalization of $138.80 billion, a price-to-earnings ratio of 19.95, a price-to-earnings-growth ratio of 4.07 and a beta of 0.76. The business has a 50-day moving average price of $144.02 and a two-hundred day moving average price of $138.38. The company has a debt-to-equity ratio of 2.11, a current ratio of 0.91 and a quick ratio of 0.86.
International Business Machines (NYSE:IBM – Get Free Report) last announced its quarterly earnings results on Wednesday, October 25th. The technology company reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.08. The business had revenue of $14.75 billion for the quarter, compared to analyst estimates of $14.73 billion. International Business Machines had a net margin of 11.32% and a return on equity of 38.51%. International Business Machines’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.81 EPS. Equities research analysts forecast that International Business Machines Co. will post 9.37 EPS for the current year.
International Business Machines Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Saturday, December 9th. Investors of record on Friday, November 10th will be issued a dividend of $1.66 per share. The ex-dividend date is Thursday, November 9th. This represents a $6.64 annualized dividend and a yield of 4.37%. International Business Machines’s payout ratio is currently 88.06%.
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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