Signature Wealth Management Group Grows Position in International Business Machines Co. (NYSE:IBM)

Signature Wealth Management Group grew its holdings in shares of International Business Machines Co. (NYSE:IBMGet Rating) by 0.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,013 shares of the technology company’s stock after purchasing an additional 209 shares during the quarter. International Business Machines makes up 1.7% of Signature Wealth Management Group’s investment portfolio, making the stock its 27th largest holding. Signature Wealth Management Group’s holdings in International Business Machines were worth $3,532,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of International Business Machines by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 77,002,099 shares of the technology company’s stock valued at $10,011,813,000 after purchasing an additional 1,448,444 shares during the last quarter. BlackRock Inc. increased its position in shares of International Business Machines by 1.7% during the 1st quarter. BlackRock Inc. now owns 66,591,742 shares of the technology company’s stock valued at $8,658,261,000 after purchasing an additional 1,139,368 shares during the last quarter. State Street Corp increased its position in shares of International Business Machines by 1.3% during the 1st quarter. State Street Corp now owns 53,755,675 shares of the technology company’s stock valued at $6,989,313,000 after purchasing an additional 706,994 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of International Business Machines by 7.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 16,297,545 shares of the technology company’s stock valued at $2,119,007,000 after purchasing an additional 1,105,170 shares during the last quarter. Finally, Norges Bank purchased a new stake in International Business Machines in the 4th quarter worth about $1,025,028,000. 55.52% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Trading Up 0.6 %

International Business Machines stock traded up $0.76 during trading hours on Thursday, reaching $125.69. The stock had a trading volume of 126,281 shares, compared to its average volume of 3,539,892. The company has a fifty day simple moving average of $131.13 and a 200-day simple moving average of $132.93. International Business Machines Co. has a 52 week low of $114.56 and a 52 week high of $146.00. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.88 and a quick ratio of 0.82. The stock has a market cap of $113.52 billion, a PE ratio of 20.28, a PEG ratio of 1.93 and a beta of 0.84.

International Business Machines (NYSE:IBMGet Rating) last posted its earnings results on Monday, July 18th. The technology company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.29 by $0.02. International Business Machines had a net margin of 8.72% and a return on equity of 43.52%. The firm had revenue of $15.54 billion during the quarter, compared to analysts’ expectations of $15.18 billion. During the same period last year, the company posted $2.33 EPS. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. Analysts forecast that International Business Machines Co. will post 9.39 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, September 10th. Investors of record on Wednesday, August 10th were given a dividend of $1.65 per share. The ex-dividend date of this dividend was Tuesday, August 9th. This represents a $6.60 dividend on an annualized basis and a yield of 5.25%. International Business Machines’s dividend payout ratio (DPR) is currently 107.14%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on IBM. Societe Generale decreased their price objective on International Business Machines to $129.00 in a report on Tuesday, September 13th. Morgan Stanley cut their target price on International Business Machines from $157.00 to $155.00 and set an “overweight” rating for the company in a research note on Tuesday, July 19th. BMO Capital Markets cut their target price on International Business Machines from $152.00 to $148.00 in a research note on Tuesday, July 19th. Credit Suisse Group raised their target price on International Business Machines from $156.00 to $163.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 17th. Finally, StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, August 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $145.18.

Insider Activity at International Business Machines

In other International Business Machines news, Director David N. Farr purchased 1,000 shares of the stock in a transaction that occurred on Thursday, September 15th. The stock was bought at an average cost of $125.00 per share, with a total value of $125,000.00. Following the transaction, the director now directly owns 1,000 shares in the company, valued at approximately $125,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.04% of the stock is currently owned by corporate insiders.

International Business Machines Profile

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International Business Machines Corporation 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, such as Red Hat, an enterprise open-source 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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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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