Oxford Financial Group Ltd. reduced its stake in International Business Machines Co. (NYSE:IBM – Free Report) by 6.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,657 shares of the technology company’s stock after selling 109 shares during the period. Oxford Financial Group Ltd.’s holdings in International Business Machines were worth $222,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of IBM. Bank Julius Baer & Co. Ltd Zurich lifted its stake in International Business Machines by 138,904.7% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 17,781,486 shares of the technology company’s stock worth $2,379,341,000 after acquiring an additional 17,768,694 shares during the last quarter. Moneta Group Investment Advisors LLC raised its holdings in shares of International Business Machines by 98,797.1% in the 4th 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 purchasing an additional 11,017,849 shares in the last quarter. Norges Bank purchased a new stake in shares of International Business Machines during the 4th quarter worth $876,014,000. Morgan Stanley increased its holdings in International Business Machines by 22.8% in the fourth quarter. Morgan Stanley now owns 16,592,094 shares of the technology company’s stock valued at $2,337,660,000 after buying an additional 3,084,458 shares during the last quarter. Finally, Providence Capital Advisors LLC raised its stake in International Business Machines by 13,609.0% in the first quarter. Providence Capital Advisors LLC now owns 2,829,537 shares of the technology company’s stock valued at $21,584,000 after buying an additional 2,808,897 shares in the last quarter. 56.16% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms have recently issued reports on IBM. Morgan Stanley lowered their price objective on International Business Machines from $135.00 to $130.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 17th. Royal Bank of Canada dropped their price target on shares of International Business Machines from $188.00 to $179.00 and set an “outperform” rating on the stock in a research note on Thursday, October 26th. Wedbush restated a “neutral” rating and set a $140.00 price objective on shares of International Business Machines in a research report on Monday, November 13th. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Friday, October 13th. Finally, BMO Capital Markets upped 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 research note on Thursday, October 26th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, International Business Machines presently has a consensus rating of “Hold” and an average price target of $149.09.
International Business Machines Stock Down 0.1 %
International Business Machines stock opened at $152.89 on Friday. The stock has a 50 day moving average of $144.33 and a two-hundred day moving average of $138.86. International Business Machines Co. has a twelve month low of $120.55 and a twelve month high of $153.50. The stock has a market capitalization of $139.61 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 4.16 and a beta of 0.76. The company has a current ratio of 0.91, a quick ratio of 0.86 and a debt-to-equity ratio of 2.11.
International Business Machines (NYSE:IBM – Get Free Report) last issued its quarterly earnings results on Wednesday, October 25th. The technology company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.08. The firm had revenue of $14.75 billion during the quarter, compared to the consensus estimate of $14.73 billion. International Business Machines had a return on equity of 38.51% and a net margin of 11.32%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period last year, the company earned $1.81 earnings per share. As a group, research analysts expect that International Business Machines Co. will post 9.45 earnings per share for the current year.
International Business Machines Dividend Announcement
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 4.34%. International Business Machines’s dividend 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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