Icon Wealth Partners LLC grew its holdings in International Business Machines Co. (NYSE:IBM – Get Rating) by 46.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 13,433 shares of the technology company’s stock after buying an additional 4,258 shares during the quarter. Icon Wealth Partners LLC’s holdings in International Business Machines were worth $1,747,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in shares of International Business Machines by 1.4% in the 4th quarter. BlackRock Inc. now owns 65,452,374 shares of the technology company’s stock valued at $8,748,364,000 after purchasing an additional 924,180 shares during the period. State Street Corp lifted its stake in shares of 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 valued at $7,090,487,000 after purchasing an additional 1,687,122 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of International Business Machines by 6.7% in 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 during the period. Geode Capital Management LLC lifted its stake in shares of International Business Machines by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 15,018,006 shares of the technology company’s stock valued at $2,001,895,000 after purchasing an additional 261,118 shares during the period. Finally, Norges Bank purchased a new position in shares of International Business Machines in the 4th quarter valued at approximately $1,025,028,000. Institutional investors and hedge funds own 55.22% of the company’s stock.
IBM has been the subject of a number of analyst reports. Tigress Financial raised their price objective on International Business Machines from $133.00 to $139.00 and gave the company a “neutral” rating in a research report on Thursday, April 21st. Bank of America raised their price objective on International Business Machines from $162.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, April 20th. StockNews.com initiated coverage on International Business Machines in a research report on Thursday, March 31st. They set a “buy” rating for the company. Credit Suisse Group raised their price objective on International Business Machines from $165.00 to $166.00 and gave the company an “outperform” rating in a research report on Wednesday, April 20th. Finally, BMO Capital Markets raised their price objective on International Business Machines from $148.00 to $152.00 and gave the company a “market perform” rating in a research report on Wednesday, April 20th. One equity research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $147.25.
In other International Business Machines news, major shareholder Business Machine International sold 22,301,536 shares of the business’s stock in a transaction that occurred on Thursday, May 19th. The stock was sold at an average price of $13.95, for a total transaction of $311,106,427.20. Following the sale, the insider now directly owns 22,301,536 shares of the company’s stock, valued at $311,106,427.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.04% of the company’s stock.
Shares of International Business Machines stock opened at $140.71 on Thursday. The stock’s 50-day simple moving average is $136.55 and its 200-day simple moving average is $132.19. International Business Machines Co. has a 52 week low of $114.56 and a 52 week high of $147.50. The company has a market capitalization of $126.56 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 1.59 and a beta of 1.00. The company has a quick ratio of 0.87, a current ratio of 0.92 and a debt-to-equity ratio of 2.44.
International Business Machines (NYSE:IBM – Get Rating) last posted its earnings results on Tuesday, April 19th. The technology company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The company had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $13.84 billion. International Business Machines had a return on equity of 42.14% and a net margin of 8.21%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.77 earnings per share. On average, equities analysts expect that International Business Machines Co. will post 9.89 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Tuesday, May 10th were paid a dividend of $1.65 per share. This is a boost from International Business Machines’ previous quarterly dividend of $1.64. This represents a $6.60 annualized dividend and a yield of 4.69%. The ex-dividend date was Monday, May 9th. International Business Machines’s payout ratio is currently 108.20%.
International Business Machines Profile: (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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