Resources Management Corp CT ADV Boosts Position in International Business Machines Corporation $IBM

Resources Management Corp CT ADV raised its position in International Business Machines Corporation (NYSE:IBM) by 1,759.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,749 shares of the technology company’s stock after acquiring an additional 23,418 shares during the quarter. International Business Machines accounts for about 0.9% of Resources Management Corp CT ADV’s investment portfolio, making the stock its 29th largest holding. Resources Management Corp CT ADV’s holdings in International Business Machines were worth $7,331,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in International Business Machines by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 97,216,131 shares of the technology company’s stock valued at $28,796,390,000 after acquiring an additional 1,439,824 shares in the last quarter. State Street Corp grew its position in International Business Machines by 1.0% in the fourth quarter. State Street Corp now owns 54,996,293 shares of the technology company’s stock valued at $16,290,452,000 after acquiring an additional 518,321 shares in the last quarter. Geode Capital Management LLC grew its position in International Business Machines by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 22,605,083 shares of the technology company’s stock valued at $6,679,105,000 after acquiring an additional 336,069 shares in the last quarter. Capital World Investors grew its position in International Business Machines by 29.2% in the fourth quarter. Capital World Investors now owns 22,021,912 shares of the technology company’s stock valued at $6,523,720,000 after acquiring an additional 4,976,756 shares in the last quarter. Finally, Norges Bank acquired a new stake in International Business Machines in the fourth quarter valued at approximately $2,446,429,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wall Street Zen downgraded shares of International Business Machines from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings raised shares of International Business Machines from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, June 9th. Stifel Nicolaus set a $290.00 price objective on shares of International Business Machines in a research report on Friday, May 22nd. Roth Mkm restated a “buy” rating on shares of International Business Machines in a research note on Wednesday, June 3rd. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of International Business Machines in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $304.17.

International Business Machines Stock Down 0.2%

Shares of NYSE:IBM opened at $271.77 on Monday. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75. The company has a fifty day simple moving average of $250.02 and a 200 day simple moving average of $270.10. The firm has a market cap of $255.43 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 2.82 and a beta of 0.66. International Business Machines Corporation has a 12-month low of $212.34 and a 12-month high of $332.46.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, April 22nd. The technology company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.10. The firm had revenue of $15.92 billion during the quarter, compared to the consensus estimate of $15.60 billion. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The firm’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.60 earnings per share. On average, equities research analysts anticipate that International Business Machines Corporation will post 12.38 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th were issued a $1.69 dividend. This is a boost from International Business Machines’s previous quarterly dividend of $1.68. This represents a $6.76 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Friday, May 8th. International Business Machines’s dividend payout ratio is presently 59.77%.

International Business Machines 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.