Nwam LLC raised its position in shares of International Business Machines Co. (NYSE:IBM – Free Report) by 108.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,613 shares of the technology company’s stock after purchasing an additional 8,131 shares during the quarter. Nwam LLC’s holdings in International Business Machines were worth $2,089,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of IBM. Fiduciary Alliance LLC bought a new stake in International Business Machines during the second quarter valued at about $25,000. Live Oak Investment Partners purchased a new stake in shares of International Business Machines during the fourth quarter worth about $30,000. GW&K Investment Management LLC bought a new stake in International Business Machines during the 1st quarter valued at approximately $33,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in International Business Machines in the 2nd quarter worth approximately $34,000. Finally, Pacific Center for Financial Services bought a new position in International Business Machines in the 1st quarter worth approximately $41,000. 56.16% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on IBM. Royal Bank of Canada lowered their target price on shares of International Business Machines from $188.00 to $179.00 and set an “outperform” rating on the stock in a report on Thursday, October 26th. BMO Capital Markets increased their price objective on shares of International Business Machines from $152.00 to $155.00 and gave the company a “market perform” rating in a report on Thursday, October 26th. Bank of America lifted their target price on International Business Machines from $152.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, July 20th. Morgan Stanley dropped their price target on International Business Machines from $135.00 to $130.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 17th. Finally, StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research note on Friday, October 13th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus target price of $149.09.
International Business Machines Trading Down 0.1 %
Shares of IBM traded down $0.08 during mid-day trading on Thursday, reaching $152.50. 411,094 shares of the company’s stock traded hands, compared to its average volume of 4,479,582. The company has a debt-to-equity ratio of 2.11, a current ratio of 0.91 and a quick ratio of 0.86. The stock’s 50-day moving average is $144.11 and its two-hundred day moving average is $138.48. International Business Machines Co. has a 12 month low of $120.55 and a 12 month high of $153.35. The stock has a market cap of $139.25 billion, a P/E ratio of 20.24, a P/E/G ratio of 4.07 and a beta of 0.76.
International Business Machines (NYSE:IBM – Get Free Report) last posted its quarterly earnings results on Wednesday, October 25th. The technology company reported $2.20 EPS for the quarter, topping the consensus estimate of $2.12 by $0.08. The company had revenue of $14.75 billion for the quarter, compared to the consensus estimate of $14.73 billion. International Business Machines had a net margin of 11.32% and a return on equity of 38.51%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.81 EPS. Research analysts forecast that International Business Machines Co. will post 9.37 earnings per share for the current fiscal year.
International Business Machines Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 9th. Shareholders 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 4.35%. International Business Machines’s payout ratio is currently 88.06%.
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.
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