Keudell Morrison Wealth Management raised its stake in shares of International Business Machines Co. (NYSE: IBM – Get Rating) by 23.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 6,742 shares of the technology company stock after purchasing an additional 1,261 shares during the quarter. Keudell Morrison Wealth Management’s holdings in International Business Machines were worth $ 877,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. IFS Advisors LLC acquired a new stake in shares of International Business Machines during the 4th quarter valued at about $ 28,000. Total Clarity Wealth Management Inc. boosted its position in shares of International Business Machines by 537.5% during the 4th quarter. Total Clarity Wealth Management Inc. now owns 255 shares of the technology company stock valued at $ 34,000 after acquiring an additional 215 shares in the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new stake in shares of International Business Machines during the 4th quarter valued at about $ 37,000. Claremont Financial Group Inc. acquired a new stake in shares of International Business Machines during the 4th quarter valued at about $ 38,000. Finally, Bray Capital Advisors boosted its position in shares of International Business Machines by 100.0% during the 4th quarter. Bray Capital Advisors now owns 402 shares of the technology company stock valued at $ 54,000 after acquiring an additional 201 shares in the last quarter. Institutional investors and hedge funds own 55.22% of the company stock.
In related 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 shares were sold at an average price of $ 13.95, for a total transaction of $ 311,106,427.20. Following the completion of the sale, the insider now directly owns 22,301,536 shares of the company stock, valued at $ 311,106,427.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.04% of the company stock.
Shares of IBM stock opened at $ 142.80 on Tuesday. International Business Machines Co. has a 1 year low of $ 114.56 and a 1 year high of $ 147.50. The firm’s 50 day moving average is $ 136.25 and its 200-day moving average is $ 132.07. The firm has a market capitalization of $ 128.44 billion, a price-to-earnings ratio of 23.41, 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 (NYSE: IBM – Get Rating) last announced its earnings results on Tuesday, April 19th. The technology company reported $ 1.40 earnings per share (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 analyst estimates of $ 13.84 billion. International Business Machines had a net margin of 8.21% and a return on equity of 42.14%. International Business Machines’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the business earned $ 1.77 earnings per share. On average, equities research analysts forecast that International Business Machines Co. will post 9.89 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Tuesday, May 10th were paid a dividend of $ 1.65 per share. This represents a $ 6.60 dividend on an annualized basis and a dividend yield of 4.62%. This is an increase from International Business Machines’s previous quarterly dividend of $ 1.64. The ex-dividend date was Monday, May 9th. International Business Machines’s payout ratio is 108.20%.
Several analysts have recently weighed in on the stock. Morgan Stanley lifted their target price on shares of International Business Machines from $ 150.00 to $ 157.00 and gave the company an “overweight” rating in a research report on Wednesday, April 20th. Bank of America boosted their price target on shares of International Business Machines from $ 162.00 to $ 165.00 and gave the company a “buy” rating in a research report on Wednesday, April 20th. Credit Suisse Group boosted their price target 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. BMO Capital Markets boosted their price target on shares of 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. Finally, Tigress Financial boosted their price target on shares of International Business Machines from $ 133.00 to $ 139.00 and gave the company a “neutral” rating in a research report on Thursday, April 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $ 147.25.
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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