Wells Fargo & Company MN Purchases 139,187 Shares of International Business Machines Corporation $IBM

Wells Fargo & Company MN lifted its position in International Business Machines Corporation (NYSE:IBM) by 3.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,717,735 shares of the technology company’s stock after purchasing an additional 139,187 shares during the quarter. Wells Fargo & Company MN’s holdings in International Business Machines were worth $1,397,440,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in IBM. Family CFO Inc bought a new stake in shares of International Business Machines in the fourth quarter worth about $25,000. Basepoint Wealth LLC bought a new stake in shares of International Business Machines in the fourth quarter worth about $25,000. SWAN Capital LLC bought a new stake in shares of International Business Machines in the third quarter worth about $28,000. Joseph Group Capital Management bought a new stake in shares of International Business Machines in the fourth quarter worth about $28,000. Finally, DecisionPoint Financial LLC increased its holdings in shares of International Business Machines by 1,666.7% in the fourth quarter. DecisionPoint Financial LLC now owns 106 shares of the technology company’s stock worth $31,000 after purchasing an additional 100 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Down 1.1%

Shares of NYSE IBM opened at $271.77 on Friday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.80. The firm has a market capitalization of $255.43 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 2.85 and a beta of 0.67. The stock has a 50 day moving average price of $250.02 and a 200 day moving average price of $270.34. International Business Machines Corporation has a 52-week low of $212.34 and a 52-week high of $332.46.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.10. The firm had revenue of $15.92 billion during the quarter, compared to analyst estimates of $15.60 billion. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.International Business Machines’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.60 earnings per share. Sell-side analysts expect that International Business Machines Corporation will post 12.38 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 8th were issued a $1.69 dividend. The ex-dividend date was Friday, May 8th. This is a positive change from International Business Machines’s previous quarterly dividend of $1.68. This represents a $6.76 dividend on an annualized basis and a dividend yield of 2.5%. International Business Machines’s dividend payout ratio (DPR) is presently 59.77%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on IBM. Erste Group Bank cut International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, February 18th. UBS Group raised International Business Machines from a “sell” rating to a “neutral” rating and set a $236.00 price objective on the stock in a research note on Wednesday, February 25th. Stifel Nicolaus set a $290.00 price objective on International Business Machines in a research note on Friday, May 22nd. Jefferies Financial Group reduced their price objective on International Business Machines from $370.00 to $320.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Finally, Weiss Ratings raised International Business Machines from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, International Business Machines has an average rating of “Moderate Buy” and an average target price of $304.17.

International Business Machines Company Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.