SRS Capital Advisors Inc. cut its stake in shares of International Business Machines Corp. (NYSE:IBM) by 20.7% in the 3rd quarter, Holdings Channel reports. The fund owned 2,589 shares of the technology company’s stock after selling 674 shares during the quarter. SRS Capital Advisors Inc.’s holdings in International Business Machines were worth $375,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in International Business Machines by 3.7% during the 2nd quarter. Vanguard Group Inc. now owns 62,228,040 shares of the technology company’s stock worth $9,572,538,000 after purchasing an additional 2,241,818 shares during the period. BlackRock Inc. grew its holdings in shares of International Business Machines by 2.4% in the 2nd quarter. BlackRock Inc. now owns 52,936,360 shares of the technology company’s stock worth $8,143,204,000 after acquiring an additional 1,241,441 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of International Business Machines by 4.3% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,242,553 shares of the technology company’s stock worth $763,790,000 after acquiring an additional 216,212 shares during the period. Legal & General Group Plc grew its holdings in shares of International Business Machines by 2.5% in the 3rd quarter. Legal & General Group Plc now owns 4,929,973 shares of the technology company’s stock worth $715,252,000 after acquiring an additional 119,747 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of International Business Machines by 3.8% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 4,826,502 shares of the technology company’s stock worth $700,229,000 after acquiring an additional 175,289 shares during the period. 57.08% of the stock is owned by hedge funds and other institutional investors.
In other International Business Machines news, Director Frederick H. Waddell purchased 610 shares of International Business Machines stock in a transaction on Wednesday, January 31st. The shares were bought at an average price of $163.38 per share, with a total value of $99,661.80. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.23% of the company’s stock.
A number of equities research analysts recently weighed in on IBM shares. UBS Group restated a “neutral” rating and issued a $160.00 price target (up previously from $152.00) on shares of International Business Machines in a report on Wednesday, October 18th. Morgan Stanley cut International Business Machines from an “equal weight” rating to an “underweight” rating and upped their price target for the stock from $200.00 to $205.00 in a report on Tuesday, January 23rd. Societe Generale set a $149.00 price target on International Business Machines and gave the stock a “sell” rating in a report on Friday, January 19th. Vetr upgraded International Business Machines from a “buy” rating to a “strong-buy” rating and set a $173.45 price target on the stock in a report on Wednesday, December 6th. Finally, BMO Capital Markets restated a “hold” rating and issued a $175.00 price target on shares of International Business Machines in a report on Thursday, January 11th. They noted that the move was a valuation call. Seven research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $164.37.
International Business Machines Corp. (IBM) opened at $150.75 on Wednesday. International Business Machines Corp. has a 52 week low of $139.13 and a 52 week high of $182.79. The firm has a market capitalization of $139,560.00, a price-to-earnings ratio of 24.67, a price-to-earnings-growth ratio of 2.21 and a beta of 0.94. The company has a current ratio of 1.33, a quick ratio of 1.29 and a debt-to-equity ratio of 2.25.
International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Thursday, January 18th. The technology company reported $5.18 earnings per share for the quarter, topping analysts’ consensus estimates of $5.17 by $0.01. International Business Machines had a return on equity of 69.48% and a net margin of 7.27%. The company had revenue of $22.54 billion for the quarter, compared to analyst estimates of $22.03 billion. During the same quarter in the prior year, the company posted $5.01 EPS. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. sell-side analysts expect that International Business Machines Corp. will post 13.82 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 10th. Shareholders of record on Friday, February 9th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date is Thursday, February 8th. International Business Machines’s dividend payout ratio is presently 98.20%.
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International Business Machines Profile
International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.
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