Means Investment CO. Inc. boosted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 1.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,583 shares of the technology company’s stock after purchasing an additional 134 shares during the quarter. Means Investment CO. Inc.’s holdings in International Business Machines were worth $1,011,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the business. Security National Bank purchased a new position in International Business Machines during the first quarter worth approximately $216,000. Jacobs & Co. CA boosted its position in International Business Machines by 10.2% during the first quarter. Jacobs & Co. CA now owns 64,105 shares of the technology company’s stock worth $8,542,000 after purchasing an additional 5,918 shares in the last quarter. Fulton Bank N.A. boosted its position in International Business Machines by 11.3% during the first quarter. Fulton Bank N.A. now owns 32,839 shares of the technology company’s stock worth $4,376,000 after purchasing an additional 3,340 shares in the last quarter. Thomasville National Bank lifted its position in shares of International Business Machines by 31.3% in the first quarter. Thomasville National Bank now owns 3,308 shares of the technology company’s stock valued at $367,000 after acquiring an additional 788 shares in the last quarter. Finally, Pensionfund DSM Netherlands lifted its position in shares of International Business Machines by 23.9% in the first quarter. Pensionfund DSM Netherlands now owns 36,300 shares of the technology company’s stock valued at $4,837,000 after acquiring an additional 7,000 shares in the last quarter. Institutional investors own 55.67% of the company’s stock.
Shares of NYSE:IBM traded down $0.24 during midday trading on Thursday, hitting $134.69. The company had a trading volume of 74,010 shares, compared to its average volume of 6,569,584. The business’s 50-day simple moving average is $126.88 and its 200-day simple moving average is $123.18. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.05 and a quick ratio of 1.00. The stock has a market cap of $120.36 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 3.36 and a beta of 1.25. International Business Machines Co. has a twelve month low of $105.92 and a twelve month high of $137.07.
International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 20th. The technology company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.28. The company had revenue of $20.37 billion during the quarter, compared to analysts’ expectations of $20.59 billion. International Business Machines had a return on equity of 48.69% and a net margin of 10.53%. During the same quarter last year, the firm earned $4.71 earnings per share. As a group, sell-side analysts forecast that International Business Machines Co. will post 8.73 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 10th. Shareholders of record on Wednesday, February 10th were paid a dividend of $1.63 per share. The ex-dividend date was Tuesday, February 9th. This represents a $6.52 annualized dividend and a yield of 4.84%. International Business Machines’s dividend payout ratio (DPR) is 50.90%.
Separately, Morgan Stanley raised their target price on International Business Machines from $140.00 to $150.00 and gave the company an “equal weight” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $139.77.
About International Business Machines
International Business Machines Corporation provides integrated solutions and services worldwide. Its Cloud & Cognitive Software segment offers software for vertical and domain-specific solutions in health, financial services, supply chain, and asset management, weather, and security software and services application areas; and customer information control system and storage, and analytics and integration software solutions to support client mission critical on-premise workloads in banking, airline, and retail industries.
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