Gyroscope Capital Management Group LLC grew its stake in International Business Machines Co. (NYSE:IBM – Get Rating) by 27.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,258 shares of the technology company’s stock after buying an additional 12,624 shares during the period. International Business Machines makes up about 2.6% of Gyroscope Capital Management Group LLC’s holdings, making the stock its 12th largest holding. Gyroscope Capital Management Group LLC’s holdings in International Business Machines were worth $7,705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently bought and sold shares of IBM. Norges Bank purchased a new position in shares of International Business Machines in the fourth quarter worth $1,025,028,000. State Street Corp lifted its holdings in International Business Machines by 3.3% in the 4th quarter. State Street Corp now owns 53,048,681 shares of the technology company’s stock worth $7,090,487,000 after buying an additional 1,687,122 shares during the period. Millennium Management LLC grew its position in shares of International Business Machines by 115.2% in the 4th quarter. Millennium Management LLC now owns 212,230 shares of the technology company’s stock worth $28,367,000 after buying an additional 1,610,410 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of International Business Machines by 6.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,192,375 shares of the technology company’s stock valued at $2,030,611,000 after purchasing an additional 951,417 shares in the last quarter. Finally, BlackRock Inc. lifted its position in International Business Machines by 1.4% during the fourth quarter. BlackRock Inc. now owns 65,452,374 shares of the technology company’s stock valued at $8,748,364,000 after buying an additional 924,180 shares during the period. Hedge funds and other institutional investors own 55.22% of the company’s stock.
IBM has been the topic of several recent analyst reports. Credit Suisse Group increased their price objective on shares of International Business Machines from $165.00 to $166.00 and gave the company an “outperform” rating in a research report on Wednesday, April 20th. Tigress Financial boosted their target price on shares of International Business Machines from $133.00 to $139.00 and gave the company a “neutral” rating in a research note on Thursday, April 21st. BMO Capital Markets raised their price objective on shares of International Business Machines from $148.00 to $152.00 and gave the stock a “market perform” rating in a report on Wednesday, April 20th. StockNews.com initiated coverage on International Business Machines in a report on Thursday, March 31st. They set a “buy” rating for the company. Finally, Bank of America lifted their price target on shares of International Business Machines from $162.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, April 20th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and an average price target of $147.25.
In other International Business Machines news, major shareholder Business Machine International sold 22,301,536 shares of International Business Machines stock in a transaction on Thursday, May 19th. The shares were sold at an average price of $13.95, for a total value of $311,106,427.20. Following the transaction, the insider now directly owns 22,301,536 shares of the company’s stock, valued at $311,106,427.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.04% of the stock is currently owned by insiders.
Shares of IBM opened at $141.12 on Friday. The firm has a market capitalization of $126.93 billion, a P/E ratio of 23.13, a P/E/G ratio of 1.58 and a beta of 0.93. International Business Machines Co. has a 12-month low of $114.56 and a 12-month high of $146.95. The company has a current ratio of 0.92, a quick ratio of 0.87 and a debt-to-equity ratio of 2.44. The firm has a fifty-day moving average price of $136.64 and a 200-day moving average price of $132.51.
International Business Machines (NYSE:IBM – Get Rating) last issued its earnings results on Tuesday, April 19th. The technology company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. International Business Machines had a net margin of 8.21% and a return on equity of 42.14%. The firm had revenue of $14.20 billion during the quarter, compared to analyst estimates of $13.84 billion. During the same period in the previous year, the firm earned $1.77 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis. Analysts predict that International Business Machines Co. will post 9.89 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Tuesday, May 10th were issued a $1.65 dividend. This is a boost from International Business Machines’ previous quarterly dividend of $1.64. This represents a $6.60 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date was Monday, May 9th. International Business Machines’s dividend payout ratio (DPR) is currently 108.20%.
About International Business Machines: (Get Rating)
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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