Martin & Co. Inc. TN trimmed its holdings in International Business Machines Co. (NYSE:IBM – Free Report) by 4.6% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 7,860 shares of the technology company’s stock after selling 383 shares during the quarter. Martin & Co. Inc. TN’s holdings in International Business Machines were worth $1,052,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the business. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of International Business Machines by 138,904.7% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 17,781,486 shares of the technology company’s stock valued at $2,379,341,000 after purchasing an additional 17,768,694 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in shares of International Business Machines by 98,797.1% during 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 buying an additional 11,017,849 shares during the period. Norges Bank purchased a new position in shares of International Business Machines in the 4th quarter worth $876,014,000. Morgan Stanley increased its position in International Business Machines by 22.8% during the fourth quarter. Morgan Stanley now owns 16,592,094 shares of the technology company’s stock valued at $2,337,660,000 after acquiring an additional 3,084,458 shares during the last quarter. Finally, Providence Capital Advisors LLC lifted its holdings 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 acquiring an additional 2,808,897 shares during the period. Hedge funds and other institutional investors own 56.16% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on the stock. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Friday, October 13th. Wedbush reiterated a “neutral” rating and issued a $140.00 price target on shares of International Business Machines in a research report on Monday, November 13th. Morgan Stanley cut their price objective on shares of 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 decreased their target price on International Business Machines from $188.00 to $179.00 and set an “outperform” rating on the stock in a report on Thursday, October 26th. Finally, BMO Capital Markets boosted their price target on International Business Machines from $152.00 to $155.00 and gave the company a “market perform” rating in a report on Thursday, October 26th. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $149.09.
International Business Machines Stock Performance
NYSE:IBM opened at $154.35 on Tuesday. The stock has a 50-day moving average price of $144.45 and a 200 day moving average price of $139.19. 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 Co. has a 12-month low of $120.55 and a 12-month high of $154.68. The stock has a market capitalization of $140.94 billion, a P/E ratio of 20.47, a P/E/G ratio of 4.16 and a beta of 0.76.
International Business Machines (NYSE:IBM – Get Free Report) last released its quarterly earnings data on Wednesday, October 25th. The technology company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.08. The firm had revenue of $14.75 billion for the quarter, compared to analysts’ expectations of $14.73 billion. International Business Machines had a net margin of 11.32% and a return on equity of 38.51%. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.81 earnings per share. Equities research analysts forecast that International Business Machines Co. will post 9.45 EPS for the current fiscal year.
International Business Machines Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Saturday, December 9th. Stockholders of record on Friday, November 10th will be given a dividend of $1.66 per share. The ex-dividend date is Thursday, November 9th. This represents a $6.64 dividend on an annualized basis and a dividend yield of 4.30%. 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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