Insight Folios Inc lifted its position in International Business Machines Co. (NYSE: IBM – Get Rating) by 8.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,986 shares of the technology company stock after purchasing an additional 3,150 shares during the quarter. International Business Machines comprises about 2.3% of Insight Folios Inc’s investment portfolio, making the stock its 29th biggest position. Insight Folios Inc’s holdings in International Business Machines were worth $ 5,070,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of IBM. TIAA FSB grew its position in International Business Machines by 13.7% in the fourth quarter. TIAA FSB now owns 115,187 shares of the technology company stock worth $ 15,369,000 after acquiring an additional 13,835 shares in the last quarter. CWM LLC purchased a new stake in shares of International Business Machines in the fourth quarter valued at approximately $ 6,798,000. Kestra Advisory Services LLC boosted its holdings in shares of International Business Machines by 12.9% in the fourth quarter. Kestra Advisory Services LLC now owns 117,880 shares of the technology company stock valued at $ 15,756,000 after purchasing an additional 13,478 shares during the period. Sciencast Management LP purchased a new stake in shares of International Business Machines in the fourth quarter valued at approximately $ 1,366,000. Finally, Wsfs Capital Management LLC purchased a new stake in shares of International Business Machines in the fourth quarter valued at approximately $ 251,000. 55.22% of the stock is currently owned by hedge funds and other institutional investors.
In other news, major shareholder Business Machine International sold 22,301,536 shares of the business’s stock in a transaction on Thursday, May 19th. The shares were 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 stock, valued at $ 311,106,427.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.04% of the stock is owned by insiders.
Shares of IBM stock opened at $ 142.06 on Monday. The business’s fifty day simple moving average is $ 135.92 and its 200-day simple moving average is $ 131.93. The company has a market cap of $ 127.77 billion, a PE ratio of 23.29, a PEG ratio of 1.59 and a beta of 1.00. The company has a current ratio of 0.92, a quick ratio of 0.87 and a debt-to-equity ratio of 2.44. International Business Machines Co. has a 12-month low of $ 114.56 and a 12-month high of $ 147.50.
International Business Machines (NYSE: IBM – Get Rating) last announced its quarterly earnings data on Tuesday, April 19th. The technology company reported $ 1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $ 1.34 by $ 0.06. The firm had revenue of $ 14.20 billion for the quarter, compared to analyst estimates of $ 13.84 billion. International Business Machines had a net margin of 8.21% and a return on equity of 42.14%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $ 1.77 earnings per share. On average, equities analysts forecast 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. Stockholders of record on Tuesday, May 10th were issued a dividend of $ 1.65 per share. The ex-dividend date was Monday, May 9th. This is a positive change from International Business Machines’s previous quarterly dividend of $ 1.64. This represents a $ 6.60 dividend on an annualized basis and a dividend yield of 4.65%. International Business Machines’s payout ratio is 108.20%.
A number of analysts recently issued reports on IBM shares. Credit Suisse Group boosted their price target on International Business Machines from $ 165.00 to $ 166.00 and gave the company an “outperform” rating in a report on Wednesday, April 20th. BMO Capital Markets boosted their price target on International Business Machines from $ 148.00 to $ 152.00 and gave the company a “market perform” rating in a report on Wednesday, April 20th. Morgan Stanley boosted their price target on International Business Machines from $ 150.00 to $ 157.00 and gave the company an “overweight” rating in a report on Wednesday, April 20th. Tigress Financial boosted their price objective on shares of International Business Machines from $ 133.00 to $ 139.00 and gave the stock a “neutral” rating in a research note on Thursday, April 21st. Finally, StockNews.com started coverage on shares of International Business Machines in a research note on Thursday, March 31st. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $ 147.25.
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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